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Question: The production function for Q is given as Q = 4K1/2L1/2 where K is the amount of capital employed and L is the amount of labor employed. The price of capital is $18 and the price of labor is $2. Find the marginal cost of the 60th unit of output. Describe the shape of indifference curves and the shape of isoquants.
All else equal, what happen to the K, L and TC when there is an increase in wages? Explain using the isoquant-isocost line diagram.
Often building supply retail store employees become friendly with their customers (building contractors) and will do those favours. For example, they might charge customers for 90% of the flooring material being purchased, or they might hide the last..
1. Suppose that government policymakers decide that they will change taxes to raise aggregate output by $400 billion, and mpc=0.5. By how much will taxes have to be changed?
The Whitley Corporation's year-end is December 31, 2013. It is now October 1, 2013. The Whitley management team is taking a look at the prior nine months.
Describe the social variables and determinants that are impacted by economic inequality. Does any of this data surprise you? Do you agree with Wilkinson?
Determine what fiscal policy measure has a more direct impact to the economy, an increase in government spending or an equal decrease in taxes if consumer confidence is lower than the previous month. Explain your reasoning.
The quantity theory of money: What is the key endogenous variable in the quantity theory? Explain the effect on this key variable of the following changes.
Formulate as an LP problem, solve the problem and what is the difficulty with the answer - what constraint would you add?
If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same? What if productivity increases more than nominal wages
You will synthesize your understanding of leadership and apply this to the global environment. First, formulate a definition of globalization. Second, formulate your definition of leadership.
what are the different types of unemployment? how do they affect the economy? what is inflation? what is deflation?
economists use elasticity to measure consumer responsiveness to changes in the various determinants associated with
competitive dynamics in the banking sectorthe treasury presentation earlier in the week to the senate inquiry on
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