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Consider the following short-run production function (where L = variable input, Q = output) Q = 6L2 - 0.4L3 (2 and 3 are not numbers, its like an exponent to L, sorry don't know how to type like an exponent)
a) Determine the marginal product function (MPL)
b) Determine the average product function (APL)
c) Find the value of L that maximizes Q.
d) Find the value of L at which the marginal product function takes on its maximum value.
e) Find the value of L at which the average product function takes on its maximum value.
Suppose the Federal Reserve is considering the applications of four different banks to merge with other banks. Given the level of the new HHI and the change in the HHI shown below, in which case could the Fed challenge the merger?
What does the president and congress do to stimulate the economy? What does the president and congress do to contract the economy? What does the Federal Reserve do to stimulate the economy? What does the Federal Reserve do to contract the economy? Wh..
A Canadian importer is contemplating an import of a high quality leather purse in large quantity from a first time exporter from India.
Supposed you are a project manager using a waterfall development-based methodology on a large and complex project.
What is the opportunity cost of producing a second unit of hospitals? What is the opportunity cost of producing a fifth unit of homeless shelters?
Assume that economy starts at equilibrium and mpc = 0.8. Illustrate what would be effect of a $500 increase in taxes once all rounds of multiplier process are complete.
According to the augmented expectations hypothesis, if the yield on both one year bonds and two year bonds are the same, would you expect the one year yield in one year’s time to be higher, lower, or the same? Explain your answer.
Hardee's and Carl's Jr. recently used a television commercial featuring a school teacher dancing on the top of her desk while a room full of buys performed a rap song entitled "I Like Flat Buns." The song seemed appropriate since the ad was for the P..
How large is the current U.S. budget deficit and how has it changed over the last few years? What is the total amount of U.S. debt and how has this changed in the last few years? Who holds this debt? What additional/different spending cuts would you ..
Determine the price elasticity of demand if, in response to an increase in price of 25 percent, quantity demanded decreases by 55 percent. Is demand elastic or inelastic?
Given: Inflation rate in Macroland was 4.5% in 2009, -2.7% in 2010, and -1.8% in 2011. Determine whether each of the following statements is true or false: In the Solow model, population growth determines:
Suppose you were appointed economic advisor to a less-developed nation in Africa. The nation seeks to encourage capital formation and wants to increase the rate of savings of its own residents as well as encourage foreigners to invest in their nation..
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