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A gardener requires fertilizer to have a minimum of 80 units of nitrogen,15 units of potassium and 10 units of iron. Two fertilizer mixes are available.Brand X contains 20, 2 and 1 units of the minerals,while Brand Y contains 4, 1, 2 units of the minerals respectively.Brand X costs $18 per kg while Brand Y costs 6 per kg.(a) Write down the inequality constraints and the equation of the cost function.(b) Graph the inequality constraints, Hence determine the number of Kg of each brand which provide the minimum mineral requirements at minimum cost.(c) Confirm your answer in (b) algebraically.
According to comparative advantage, in which industries would you recommend the country to specialize. Has the country specialized in your suggested industries.
Say y store it as cash in a mayonnaise jar in kitchen cabinet. What would this do to circular flow of income and spending. How would businesses react to household hoarding.
Suppose apples also oranges are substitute. Presume apple growers launch a very successful advertising campaign that convinces consumers apples are a better product.
Explain how does the U.S. Government correct for this apparent market failure.
Illustrate what is now the effect on gold consumption also mining of an increased utilize of gold as money.
What amount of equity method income would Russell recognize in 2013 from its ownership interest in Thacker.
Discuss how the two cases in this chapter illustrate the major theme of this text: changes in the macro environment affect individual firms and industries.
her current consumption choice is four bottles of wine and 10 pounds of cheese. The price of wine is $10 per bottle, and the price of cheese is $4 per pound.
Elucidate the marginal revenue from the fourth worker
Assume to latest discoveries in biochemistry significantly lengthen our life expectancy. Illustrate what is the impact on the educational attainment of workers
A few years ago a construction manager earning $70,000 every year working for a regional home builder decided to open his own home building company.
How much profit will monopolist make if she maximizes her profit. llustrate what would be value of consumer surplus if market were perfectly competitive.
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