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A cost-minimizing firm's production function is Q = LK. The price of labor services is w and the price of capital services is r. Suppose that w = $10, r = $5, and the firm's total cost is $140.
(a) What are the firm's MPL, MPK?
(b) What is the firm's optimal input combination of L and K? What is Q?
(c) Suppose the wage rate is 0.5 times the rental rate and Q is the same. What is the firm's optimal input combination of L and K after the price change?
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Assume that a “leader country” has real GDP per capita of $50,000, whereas a “follower country” has real GDP per capita of $25,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 14 percen..
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Patient volumes for a radiology clinic are observed to have the following time-series data: Monday = 25, Tuesday = 28, Wednesday = 32, Thursday =26, and Friday= 30. Using a 5-day moving average and ignoring weekend volumes, what is the projection for..
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Discus about American Apparel? IDENTIFYING GLOBAL BUSINESS OPPORTUNITIES (Emmanolia)?
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