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1. A firm can manufacture a product according to production function
a. Calculate the average product of labour, APL,when the level of capital is fixed at 16 units and the firm uses 16 units of labour. How does the average product of labour change when the firm uses 81 units of labour?
b. Find an expression for the marginal product of labour, MPL, when the amount of capital is fixed at 16 units. Then, illustrate that the marginal product of labour depends on the amount of labour hired by calculating the marginal product of labour for 16 and 81 units of labour.
c. Suppose capital is fixed at 16 units. If the firm can sell its output at a price of $100 per unit and can hire labor at $25 per unit, how many units of labor should the firm hire in order to maximize profits?
Now suppose that the demand increases by 10 units at each price.fill in the new quanity demanded in table above5.determine the new equilibrium price and quanity 6.reproduce the graph tha u drew for question 4 and label oringinal demand and supply
Suppose there are two firms in a market who each simultaneously choose a quantity. Firm 1's quantity is q1, and firm 2's quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 60 - 4Q.
You know that different types of consumers value your two products differently, but you are unable to identify these consumers individually at the time of the sale. in particular, you know there are three types of consumers ( 1,000 of each type) w..
Prepare a two- to three-page analysis by answering the questions below. Be sure to cite your references using APA format. Assume that the Bank of Ecoville has the following balance sheet and the Fed has a 10% reserve requirement in place: BALANCE SHE..
Use the data to compute Marginal Cost (MC), Average Fixed Cost (AFC), Average Variable Cost (AVC) and Average Total Cost (ATC) as a function of the rate of output. a) Calculate the MC, AFC, AVC and ATC values
a city is spending $20 million on a new sewage system. The expected life of the system is 40 years, and it will have no market value at the end of its life. Operating and maintenance expenses for the system are projected to average $0.6 million pe..
A corporate bond has a face value of $10,000 with a bond rate of 10%. The interest of the bond will be paid quarterly. The bond will mature in 10 years. If the bond is sold at $8,500 on the market, what is the yield (return) on the bond
Planning, Siting, and Permitting of Landfills: Outline the steps for constructing a landfill. What factors can affect the volume requirement of the landfill over time? What are some examples of fatal flaws that should be considered in the construc..
Respond to the following question: Howard Becker states, "...social groups create deviance by making the rules whose infraction constitutes deviance, and by applying those rules to particular people and labeling them as outsiders. From this point ..
Given the following annual information about a hypothetical country, answer questions a through d. Billions of Dollars Personal consumption expenditures $200 Personal taxes 50 Exports 30
Net present value: Kingston, Inc., is looking to add a new machine at a cost of $4,133,250. The company expects this equipment will lead to cash flows of $814,322, $863,275, $937,250, $1,017,112, $1,212,960, and $1,225,000 over the next six years.
An electric switch manufacturing company has to choose one of the three different assembly methods. Method A will have a first cost of $40,000, an annual operating cost of 9,000 and a service life of 2 years. Method B will cost $80,000 to buy.
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