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Given the Cobb-Douglas production function for Mabel's factory Q = (L0.4) * (K0.7)
a) Based on the function above, does Mabel's factory experiencing economies or diseconomies of scale? Explain.
b) If the manager wished to raise productivity by 50% and planned to increase capital by 25%, how much would she have to increase her labor to reach that desired production level?
A crew of mechanics at the Highway Department garage repair vehicles that break down at an average of λ = 8 vehicles per day (approximately Poisson in nature). The mechanic crew can service an average of μ= 11 vehicles per day with a repair time dist..
Briefly describe your own beliefs about the potential value of low-energy compact fluorescent light bulbs
List and explain the conditions under which the Oligopolistic firm achieves profit maximization and loss minimization. Be thorough. i. Using the MR MC approach, discuss how to determine when the oligopolistic firm maximizes profit or minimizes loss i..
How can domestic market be protected - In a two-period model of market entry with horizontally differentiated products and exogenous switching costs, it is demonstrated that the mere existence of switching costs and AD-rules may result in an anti-..
Compare another developed nation's model of healthcare to the model used in the United States. Identify and compare the three key service indicator
Some part of income inequality is likely to be the result of discrimination. But other factors responsible for inequality include (select as many as apply):
q. assume that the production function for all countries is given by y ak13. assume that the depreciation rate d and
Suppose that Charles, an economist from an AM talk radio program, and Dina, an economist from a university in Massachusetts, are arguing over government intervention. The following dialogue shows an excerpt from their debate:
q.suppose that we modify the solow growth model by allowing long-run technological progress. that is suppose that z 1
Consider a large country importing good X in the international market. The country is large enough to influence the international price for good X. Let the initial international price of good X be $100, where the country imports 100 units and produce..
What are the three reasons not to introduce more tax credits to businesses?
what is the value of the money multiplier given each of the following sets of values for CUR and RES? what would be the equilibrium value of total money stock assuming a monetary base of $10 trillion?
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