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Of the shirts produced by a company, 5% have loose threads, 9% have crooked stitching, and 3.5% have loose threads and crooked stitching. Find the probability that a randomly selected shirt has loose threads or has crooked stitching.
Name two examples of transfer-oriented industries with firms located in central cities today. Describe what they produce/sell. Use what we have covered in class to explain why their location decisions make economic sense.
A firm has a production function represented by: q=L^(.75)K^(.25). Find a function for how much capital and labor a firm should hire to produce a given level of production in terms of the price of labor, w, and the price capital, r.
If marshmallows and graham crackers are complements in consumption, an increase in the price of marshmallows causes a(n)__ for graham crackers.
Write a formula which describes the marginal product of labour in the short run as a function of the amount of labour used.
Essay: Explain the pros and cons of a flat taxation system for a state tax system.
question 1explain and illustrate with diagrams the differences between diminishing marginal returns and decreasing
Assume all markets are competitive, the product price is p = $2 per unit, the wage rate is w = $16 per hour and the firm's production function is q=E(36?E), where E is the level of employment and the firm's fixed costs are zero.
Illustrate what is the present equivalent of the overhaul expenses at time 0. Illustrate what is the yrly equivalent expense during only yrs 5-13.
A similar helicopter was purchased 4 years ago at a cost of 140,000$. At an interest rate of 7% per year. Illustrate what would be the equivalent value today of that 140,000$ expenditure.
Suppose a monopoly can produce any level of output it wishes at a constant marginal (and average) cost of $5 per unit. Assume the monopoly sells its goods in two different markets separated by some distance. The demand curve in the first market is..
What is the present worth (at 8%) of an inheritance that begins at $8000 per year next year and then falls by $500 per year over
The price you pay for labor depends on the amount that you hire, according to the schedule P = 10 + 4Q. What price do you pay for labor (per unit)?
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