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Suppose that there is no fixed production input (i.e. long run.) With the production function above, the slope of the isoquant is given by MRTS = -(K/2L). Assume the firm chooses to hold costs C at $50.
a. If the wage rate, w, is $5 and the rental rate for capital, r, is $2, what is the optimal amount of labor and capital that should be hired?
b. If the wage rate increases to $10, how will the optimal amount of labor hired change?
Tangents as a trigonometric function will be applied in our conversion of the Consumption Function in the Macro section of this course.
the mainstream theory of the business cycle, is the most common source of reciession: a decrease in aggregate demand, a decrease in aggregate supply, or both.
q.use the following table to answer questions a-c.output q0 1 2 3 4 5 6total costtc36 45 52 61 74 91 110a. what is the
Illustrate what variables other than cost appear to have the biggest impact on the demand products
What is the new equilibrium price and output in the short run for both the industry and each firm.
how should he change his bundle to reach his optimum? Explain your answer using the marginal utility condition at the optimal choice.
The cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output.
How will this technological advance impact production and pricing plans. How it will impact BlackSpot's profit.
If an earthquake decreases cement supply by disabling a major cement plant and increases demand by necessitating repair jobs, what does the model of supply and demand definitely predict for the cement market?
In the absence of a binding and enforceable agreement, determine the dominant strategy for AMC. c. Determine the dominant strategy for SAMI. d. If the two firms can enter into a binding and enforceable agreement, determine the strategy that each fi..
Explore in particular how the firm responds to the macroeconomic conditions in terms of the stock performance, current also future sales revenue, current also future profits, and worker costs also hiring decisions.
As per the mathematical laws that govern the relationship between average total cost and marginal cost, where must these two curves intersect.
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