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The cost function for gumballs is given by TC = q(2v+w), where q is the output of gumballs (in thousands), v is the hourly rental rate for gumball presses, and w is the hourly wage. What is the underlying production function and what sort of returns to scale does that production function have? Does the cost function show economies or diseconomies of scale? Show all work.
Supposing a products is produced both in the US and abroad what would be the effects of the US import quota on the good? Discuss some of the attributes of the new economy.
in january 1 2002 there were 15 member countries in the european union. twelve of those countries eliminated their own
Imagine that you are the manager of a gas station and your goal is to maximize profits. According to your past experience, the elasticity of demand by Texans for a car wash is -4,
a company makes widgets and has a fixed cost of 45000 per month and a variable cost of 45 per widget. if the selling
Does farming in the United States have the characteristics of perfect competition How does perfect competition in the farming industry help farmers and consumers? Hurt farmers and consumers
What is the value added at each stage? Calculate GDP using the „value-added" approach.
in 1970 lyle bought a hand calculator for 200. the calculator was more accurate in its four functions of addition
Eve bought defective ball bearings from Saginaw Corp. Alfred was the sole shareholder of the company and also its landlord. After Alfred sold all Saginaw's assets, he withheld enough money to cover the rent that Saginaw owed him. As a result Sagin..
gas prices are high at 3.30 in the year of 2008 compared the prices in 1979 of gas prices for 1.00. are nominal prices
What are the costs of making those "systematic mistakes"? Is it possible to act "irrationally," or is rationality defined by the individual's approach to decision making?
In the late 1990s, several East Asian economies had their currencies pegged to the U. S. dollar. Suppose there is an economic boom in the United States that leads to an increase in U. S. interest rates.
Presume demand and supply are given by Qd = 50 - P and Qs = 0.5P - 10. a. What are the equilibrium quantity and price in this market? What are the equilibrium quantity and price in this market? Decide the quantity supplied, the quantity demanded and ..
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