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A company uses 20 work units and 30 units of capital to produce 4,000 units of product. In this combination the marginal product of labor is 50 and the marginal product of capital is 40. The price of labor is $ 30 and the price of capital is $ 20. to.
How much is the MP per dollar of labor and the MP per dollar of capital? The company can raise capital by one unit and reduce how much units of work by keeping costs constant? This (increases or decreases) the production by how much units? To maximize production company pointed to the cost increase and reduce what until the MRTS is equal to w / r ?
Gordon also works 5 hours a week for the economics department to maintain that departments web page. Illustrate the economics department pays gordon $20 per hour.
A couple operate a pet sitting service on the side. They want to add a daily service of a photo placed online for pet owners who are travelling. The required equipment is expected to cost $636 to purchase and $16 per month to operate. Revenues are ex..
q. bud owen operates buds package store in a small college town. bud sells six packs for off-premises consumption. bud
Which of the following is a characteristic of a monopoly?
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
in march 2010 hertz pain relievers bought a message machine that provided a return of 8 percent. it was financed by
What is the difference between a free trade agreement and a preferential trade agreement? What is the difference between a free trade area and a free trade agreement?
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $12 million in withdrawals from other banks’ ATM machines. Based on this infor..
The economic theory of bureaucracy states that athletic directors: Relative to a perfectly-competitive labor market, a monopolized one: The marginal costs of effort tend to:
sketch a production indifference curve indicating that CCC can produce no more than 1,000 containers with this expenditure.
International firms can supply as much or as little steel as they want at a price of P = 80. Draw the supply and demand diagrams with and without international trade? What is the market clearing price and quantity if international firms can sell in t..
determine what product it could export and discuss why this product could be successful in that country. Make sure to explore and report the demographics of the country, as well as any transnational concerns listed.
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