EBK MACROECONOMICS
EBK MACROECONOMICS
10th Edition
ISBN: 9781259662447
Author: Colander
Publisher: YUZU
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Chapter 5, Problem 9QE
To determine

Impact of rent controls.

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Matthew grows wheat on his farm. One of his fields produced 66.8 bushels of wheat this year. If wheat is currently selling for $5.40 per bushel, how much will Matthew earn from this field?
You are looking for an apartment to rent. You know that searching for apartment to rent on the internet will help you find an apartment with a lower rental. The price you will pay with hours of internet search are given in the table below. If your hourly wage is $10, what is your optimal number of hours spent conducting internet search for apartment to rent?
A competitive, profit-maximizing firm pays its workers a wage of $500 per day.  The last worker they hired increased their production by 20 units per day. What must be the price that their product sells for?
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