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1. Critically discuss the law of diminishing marginal productivity? How does it differ from average productivity?
2. What is derived demand? What is the relationship between the productivity of an employee and his or her wages?
Microeconomics, Economics
Question: What were the main problems with the Articles of Confederation that led to the Constitutional Convention of 1787? How did the national government under the Constitution differ from the Articles of Confederation ...
Question: Two consumers hae identical utility functions, U(x,y) = Max(x,y). There are eight units of x and eight units of y. What are the pareto optimal allocations for this economy? Math not required (intuition question ...
Question: Consider an economy that only produces hamburger patties (H) and onions (O). There are two consumers Ron and Dave. Ron likes to consume his hamburger patties and onions in a 1:1 ratio, while Dave likes two onio ...
Assignment 1: Discussion-Cultural Differences and Ethical Standards Your Module 3 readings explained that understanding cultural differences are critical to success in international business. A country's culture reflects ...
Question: An equipment costs $800,000 and has a service-life of 10 years with a salvage value of $20,000. The equipment will bring a before tax income of $200,000 every year. Annual operations and maintenance will be $10 ...
Question: What are the highest and lowest payments from the writer that the beekeeper- farmer team will accept for the sixth day? Assuming that the farmer can dispose of $7 from the writer as she wishes, what range of pa ...
Question: If the removal of trade barriers is so beneficial to international economic growth, why would a nation continue to restrict trade on some imported or exported products? The response must be typed, single spaced ...
Question: Most lenders charge an up-front fee called origination fee, which is added to what borrower owes and is described as "points," e.g., 1 point is 1%. The lenders are required by law to account for the origination ...
Question: In the model of perfect competition, all firms are price-takers since they treat price as a market-determined constant. Firm Perfcomp's total revenue function is TR(Q) = P.Q, in which P equals the output price. ...
Question: Improved methods of inventory control were supposed to reduce fluctuations in inventory stocks. It is clear that these methods have helped reduce the equilibrium inventory/sales ratios in both the manufacturing ...
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