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If a production function is given through the equation Q=12X+ 10x2- x3 where X= input and Q=output then provide the calculations for
a. average productb. marginal productc. point of diminishing average returnsd. point of diminishing marginal returns
Note : the ten is supposed to be x-squared and the next one is supposed x cubed. I don't know how to do these symbols on my computer
Given the data, please construct the demand estimation for soft drink consumption in the United States by a multiple-linear regression equation, and a log-linear (exponential) regression equation.
Two months before, the landlord of a car dealership significantly changed his sales manager's compensation plan. Under the old plan, the manager was paid a salary of $6000 every month
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The Alex Corporation uses two inputs, A and B, to produce boats. The production function for boats is given through
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David Ding advertises on a local radio station. For last 6-weeks, the manager has kept records of the number of minutes of advertising that were bought, and the sales for that week.
Business Week, in an article dealing with management, wrote, "When he took over furniture factory three years ago. Realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap.
Would the reward system vary among retailers, manufacturers, distributors, financial organizations? What other characteristics should good performance incentives have?
Estimate the coefficients of the demand model for the data given above. Provide an economic interpretation for each of the coefficients in the estimated demand equation you have compuated.
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