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Q1. Use the following information on a hypothetical short-run production function to answer questions a-c. Units of Labor/Day 5 6 7 8 9 Units of Output/Day 120 140 155 165 168 The price of labor is $20 per day. Ten units of capital are used each day, regardless of output level. The price of capital is $50 per unit. a. Calculate the marginal and average variable product of each unit of labor input. b. Calculate total, average total, average variable, and marginal costs. c. Can you tell where diminishing marginal returns sets in? Q2. Explain the difference between the short run and the long run as it relates to the firm's production function. Why is this distinction important to a firm''s manager? Q3. From the manager's perspective it is important to treat implicit costs as explicit in order to make sound strategic decisions. Explain why giving some examples.
1. david smith must decide whether to start a business renting beach umbrellas at an ocean resort during june july and
Suppose you are the manager in a market comprised of five companies, each of which has a 20% market share. In addition, each company has a strong financial position and is located within a 100-mile radius of its competitors.
What is the equilibrium price of wheat and what is the equilibrium quantity of wheat sold
Adriatic Company's stock had a required return of 11.50 percent last year, when the risk-free rate was 5.50% and the market risk premium was 4.75 percent.
neeed to prepare an cgi script that send mass emails.input fields sender name sender email subject message choose html
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When there are economies of scope in two products which are separately produced by two companies, merging into a single firm can
many social scientists say that poorer third world countries should reject models based on economic laws of universal
What is globalization, and what are some of the challenges that multinational corporations (MNCs) face that makes it them different from running a domestic company?
As the manager of exploration for Chieftain Oil & Gas, you are assessing a new offshore oil recovery method that will recover oil and gas deep in the Gulf of Mexico.
Prepare the sketch the Fourier transform of a rectangular pulse of amplitude 10 V and width 0.1 second that is centered on the zero time axis. Determine the autocorrelation function of a rectangular pulse.
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