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The ABC Corporation produces just one product, widgets.
The company's new economist has calculated a short-run production function as follows:Q = 7L + 0.6L^2 - 0.1L^3 .
Where Q is the number of widgets produced per day and L is the number of production workers working an eight-hour day.
Develop a production schedule with L equaling 1 to 10.
Calculate Average and Marginal product.
The economy of Sonrisa has 1000 people in three income categories: poor, middle class, and rich. The poor ear $500 per year and have to spend it all to meet their consumption needs. The middle class earn $2,000 per year, of which $1,500 is spent a..
(Craft Unions) Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the difference in approaches and describe the impact these differences have on excess quantity of labor suppli..
Andrea, however, claims they do have a contract and wants to enforce said contract for the price of the car. What standard would the court use to determine whether there is a contract between the parties for the sale of the car.
Suppose a firm assesses its profit function as: X=profit X= -10-48Q+15Q^2-Q^3 a.) Compute the firm's profit for the output levels of (Q=2, 8, 14) b.) Drive an expression for the marginal profit. c.) Compute marginal profit at Q=2, 8, 14.
Charlie Cook was able to determine the activity times for constructing his chemical contaminant tracking machine. A) Cook would like to determine ES, EF, LS, and LF for each activity. Here are the activity times
china ia a major producer of grains, like wheat, corn, and rice. In 2008 the chinese gov. concerned that grain exports were driving up food costs for domestic consumers, imposed a tax on grain exports. a)Draw the graph that describes the market for..
Suppose that a pure altruist in the affected area had come into possession of a small amount of ice. Explain why he might have charged $50 per pound for it, even if he was completely unconcerned with his own welfare.
The given information is the quarterly sales of gasoline in the U.S. in millions of barrels during part of the 1980s and the 1990s. Determine the linear trend and use it to forecast sales for first quarter of 1992.
Lenny's, a national restaurant chain, conducted a study of factors affecting demand. The following variables were defined and examined for a random sample of thirty of its restaurants:
Suppose that the two years have elapsed since you purchased the security, and you hve recieved the first two payments of $600 each. Now suppose the market interest rate suddenly jumps to 10%. How much would another investor be willing to pay for y..
sales 1990 116 1991 105 1992 29 1993 59 1994 108 1995 94 1996 27 1997 119 1998 34 1999 34 2000 48 2001 ..
A family bought a house in October 1998 for $200,000. The house was financed by a mortgage where they paid 20% of the value and the bank financed the balance of the loan at 9% annual interest compounded monthly [.0075% monthly] over a 15-year peri..
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