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Question: 1. A firm has the production function Q = K0.5L0.5 and buys input K at £12 a unit and input L at £3 a unit and has a budget of £600. Use the Lagrange method to find the input combination that will maximize output, checking that second-order conditions are satisfied by using the bordered Hessian.
2. A firm operates with the production function Q = 25K0.5L0.4 and buys input K at £20 a unit and input L at £8 a unit. Use the Lagrange method to find the input combination that will minimize the cost of producing 400 units of Q, using the bordered Hessian to check that second-order conditions are satisfied.
A Bend in the River, Nobel Prize winner V. S. Naipaul describes an underdeveloped country in which the government's constantly changing tax policies and vague laws regarding ownership of property cause entrepreneurs to become demoralized and unres..
Illustrate the above relationship between income and savings rate using a graph with income on the x-axis and total savings on the y-axis. B). Will a government policy to redistribute income to achieve less income inequality potentially help or hurt ..
Discuss the specific servant leadership principles you would apply, the methods you would use to apply principles, and the results you would anticipate seeing as a result of implementing these servant leadership principles.
assume that a national restaurant firm called bbq builds 10 new restaurants at a cost of 1 million per restaurant. it
Good News Letter - your company has just made a new hire. Prepare the person for the next steps in the process. You have just had to fire an employee.
Topics to elaborate: Economy (Economy stability/Managing economy resources effectively/Unemployment/Good control system):
a firm has two prodcuts and two customers. customer 1 is willing to pay 9 for product a and 4 for product b. customer
The Aggregate Demand for goods and services in an economy must at every moment equal the value of Real Gross Domestic Product because both are defined to be the sum of (C+I+G+X-IM).
During the last 7 years the US government has gengaged in mass amounts of fiscal stimulus to get the economy moving. Take either the classical or Keynesian point of view on the stimulus. Support your point of view using principles of Classical or Key..
Suppose both supply and demand decrease. What effect will this have on price and the government sets a price floor of $30 and agrees to purchase all surplus at $30 per unit
Consumer Buying Behavior
answer the following in at least 75 words each or more.what are the factors that would influence the federal reserve in
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