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A firm uses capital and labor to produce output according to the pproduction function q = 4sqrt(KL), for which MPL = 2sqrt(K/L) and MPk = 2sqrt(L/K) a. If the wage w=$4 and the rental rate of capital r=$1,what is the least expensive way to produce 16 units of output? ?????? b. What is the minimum cost of producing 16 units? c. Show that for any level of output q, the minimum cost of producing q is $q. d. Explain how a 10% wage tax would a§ect the way in which the firm chooses to produce any given amount of output
Assume that over a range of prices, the price elasticity of demand varies, total revenue curve over these two ranges of the demand curve as price fall.
Expectations and consumer confidence are important in determining fluctuations in aggregate spending. In your opinion, what is the present status of consumer confidence.
during his first year at school, ximin buys eight new college textbooks at a cost of $50 each. Used books cost $30 each. Is ximing better off, the same, or worse off after the price change.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Illustrate what does the area EBCD represent. Provide a full explanation of the concept that is shown in that area.
What factors determine the intensity of rivalry in an industry. Is the intensity of rivalry in the PC industry high or low.
Why does the assumption of independence of risks matter in the examples of insurance.
Canon will receive payment from its dealers on August 28th, 2012. Assuming which Canon needs to cover its expenses in Japan
Explain what percentage change in the price of each of the three goods. Using a method similar to the consumer price index, compute the percentage change in the overall price level.
llustrate what happens to the money supply. Elucidate how would this change the incentive structure facing depository institutions.
As the Euro appreciates in value relative to the U.S. dollar, what happens to the price of U.S. goods in Europe. Elucidate what happens to the price of European goods in the U.S.
Describe perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings.
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