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Given the following production function
Q = F(K,L) = K^3/4 L^1/4
a) find an expression for the marginal product of labor, MPL, when the amount of capital is fixed at 16 units.
b) Assume capital is fixed at 16 units. If the company can sell its output at a price of $100 per unit and can hire labor at $25 per unit, how many units of labor should the firm hire in order to maximize profits?
Dell Computer Corporation, the world's biggest personal computer maker, is keenly aware of everything its rival PC manufacturers decide to do.
"A characteristic of oligopolistic market is that, once the general price level is established it tends to remain fixed for an extended period of time." Discuss the economic rationale underlying this phenomenon.
The table below demonstrate the demand for Fidgets over an eight month period. Calculate a four-period moving average forecast for September.
Draw the individual cost curves on one graph: marginal cost, average total cost, average ?xed cost, and average variable cost. Place costs ($) on the y-axis and quantity (Q) on the x-axis.
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.
The following table demonstrate yearly sales information for Landrover, Inc., over the ten-year 1998-2008 period:
Prepare the sketch the Fourier transform of a rectangular pulse of amplitude 10 V and width 0.1 second that is centered on the zero time axis. Determine the autocorrelation function of a rectangular pulse.
The following production function are given and solve this problem using an spreadsheet approach and then do the problem using the optimization procedure
Calculate a total cost function of transport services as a function of volume of production. How you can derive now the average cost and marginal cost of production?
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.
Describe critically growth maximisation model of morris - Grade Level : Post Graduate Level
Make some research on a topic known to economists as 'friction-free' or 'low-friction' economy. Early writers on this topic foresaw many of the seismic shifts that have occurred in the market place over last one to 2-decades.
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