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Suppose a firm's production function is given by Q = 12L - L^2 for L = 0 to 6, where L is labour input per day and Q is output per day. Derive and draw the firm's demand for labour curve if the output sells for $10 in the competitive market. How many workers will the firm hire when the wage rate is $30 per day? (Hint: The marginal product of labour, MPL is 12 - 2L).
Suppose an economy of two firms and two consumers. The two firms pollute. Firm 1 has a marginal savings function of MS1(e) = 5-e where e is the quantity of emissions from the firm.
Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
you must identify a franchise that is relatively new (less than 10 years old and fewer than 25 locations in Canada). You must then evaluate the attractiveness of the franchise for an identified location. The evaluation should include: Presentation ..
Describe each of the subsequent using supply and demand diagrams.
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
Assignment on Supply, Demand & Taxes, Supply, Demand, and Taxes, The market for tennis shoes exhibits the following supply and demand schedules:
Describe the law of demand. Why does a demand curve slope downward? What are the determinants of demand? What happens to the demand curve when each of these determinants changes?
Here is the information you require to answer the question. This information is taken from the graph. So you will require to draw the graph to answer the questions. The best level of output for monopolist in short run is 500 units and is given by p..
Price elasticity of demand for two customer segments
The demand curve for the product X is given by Qdx = 460 - 4Px. How much consumer surplus do consumers receive when Px = $35?
Estimate the demand function
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