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A production function is given by F(K,L) =2L(K)^1/2 (note output q= F(K,L)). In the short run K=25, and r =5, and wages are given by w. Derive the average cost, the marginal costs, and the total cost of this production function. Does it possess the property of diminishing marginal productivity of labor?
one of the offenders cited in the article is the royal economic societys economic journal which charges about 50 more
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Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want to price the extended warranty at 2% of the product price?
What is the equilibrium quantity in this market and what is the equilibrium price in this market and what are the resulting output, revenue, cost, and profit of the typical firm?
1. identify the relationship between resources their cost and the project schedule. explain how resources should be
Using the firms marginal cost curve, compute the profit-maximization long-run supply curve for typical retailer. Compute the average total cost curve for the typical gasoline retailer, and determine that average total cost are less than price at the..
What are the difficulties in measuring this within one country and making comparisons of the standard of living of people in different countries?
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A portfolio manager owns a bond worth £ 2,000,000 that will mature in one year. The pound is currently worth $ 1.65, and the one- year future price is $ 1.61. If the value of the pound were to fall, the portfolio manager would sustain a loss.
define externalities in consumption and production of goods and services. why do they occur? what are examples of
a random sample of 10 economists produced the following forecasts forpercentage growth in real domestic
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