Hoover kept the federal government out of the hands in the economy that did not work well during a major depression. He included in his policies the voluntary action by business and labor but did not work as well. Eventually, Hoover came out of hand of solution for the depression and unemployment continued to soar in the country.
A trough is a low turning point or a local minimum of a business cycle. The time evolution of many variables of economics exhibit a wave like behaviour with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks.
Answer:
$10.
Explanation:
The key word here is a "monopolist", or an individual/company that has complete control over a certain amount of market. Marginal revenue, as defined, is an increase in revenue that results from the sale of one additional unit of output.
This is important to note, in that <em>usually when a price is raised, as long as there is comparable quality with competitors who have lower prices, an increase of price will typically lower demand for the product(s) from that individual supplier. </em>However, in holding a monopoly, <em>no matter how much or little they change the prices, as the product is in demand, the market demand would not change as much assuming all things stay the same</em> (i.e., natural demand is still the same amount as before the price change).
So, for example, that there is a natural demand for computer chips. You as well as your company, is the only company that makes computer chips, or at least you make the majority of the computer chips (>90%). This typically means that, if no other company or government has the means to be able to achieve adequate production of computer chips, and as computer chips are important in everyday products and a part of human life now, then an increase of price by $10 is justifiable under the Nature of Demand. The marginal revenue then, would be $10 (the amount increased).
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Answer:
These claims suggest that immigrants contribute to economic growth by increasing the supply of (or attracting) capital as well as the supply of labor. Rosenberg (1972: 32–33) concludes that immigrants to the United States also brought European technology that increased the productivity of American industry.
Explanation:
Answer:
because it was cheaper to pay kids than adults
Explanation:
