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A shoe company has developed the production function of Q=80 L^(0.5) K^(0.6) where L represents labor and K represents capital. If L is increased by 2% with K unchanged, what is the resulting percentage change in output? Describe the nature of returns to scale for this production function.
Elucidate briefly in what way the HOV, or factor content theorem, extends the standard HO model.
Domestic produces often base their claim for import protection on the fact that workers in country X are paid substandard t wages.
Why do you thing they each would work. Illustrate what would the benefits of each action be besides emissions reduction.
A sporting goods store has estimated the demand curve for a popular brand of running shoes as a function of price. Compute demand elasticity using the midpoint formula.
Smith has been trying to sell his house for six months, but so far, there are no buyers. Sketch the market for Smith's house.
Can Economic Analysis be used as a tool to discover truth and to assist in solution of concrete/major problems in an organization. How.
Compute the minimum rate of interest, and, therefore, the risk premium, at which you would lend $1000 on the informal market. Suppose you are risk-neutral.
Population growth in developing nations has proceeded at unprecedented rates ower the past few decades.
Suppose we randomly poll 500 Americans and ask them whether they believe that the parents are involved. What is the distribution of the sample mean.
Explain a way that your family interactsin factor market and a way that it interactsin products market. Discuss how circular flow relates to current economic situations.
Illustrate output quota q1 would the typical firm have to be limited. Explain how much would it like to produce.
Illustrate what is the equilibrium quantity of bananas and tomatoes consumed by Marilyn and Chen.
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