Refer to the table below. If the cost per unit of advertising is constant at $820, what is the level of advertising per week that maximizes the industry joint profit?
Suppose the dairy industry is made of up only by the three firms above; Cow Haven, Free Cows, and Happy Cows.
A) 1 B) 4 C) 2 D) 3
D) 3
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A change in the supply of one factor of production
a. can alter the earnings of all of the other factors. b. alters the earnings of capital and labor but not land. c. will not change the marginal productivities of other factors but may change their prices. d. alters the earnings of that factor only.
The portion of unemployment that is due to changes in the structure of the economy that result in a significant loss of jobs in certain industries is ________ unemployment.
A. frictional B. cyclical C. seasonal D. structural
What is Joseph Stiglitz' main criticism regarding intellectual property rights protection?
What will be an ideal response?
Suppose that Freedonia has GDP equal to 2000 million, the capital stock is 1700 million, and the number of employees equals 70 million. The production function is Y = AK0.25N0.75. Total factor productivity of the economy is approximately equal to
A) 0.09. B) 2.61. C) 4.19. D) 12.87.