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Question: 1. If each input is paid the value of its marginal product, will this exhaust a firm's total revenue if the relevant production function is
(a) Q = 4K + 1.5L?
(b) Q = 8K0.4L0.3?
(c) Q = 3.5 K0.25 L0.35 R0.3?
2. If y = 40x0.4z0.3 and x = 5z0.25, find the total effect of a change in z on y.
Assume now that Firm1 has a constant marginal cost of 1 and Firm 2 has a constant marginal cost of 2. the new market demand is: Q = 15-P. If the firms merge and produce at the lower marginal cost, how do the equilibrium values changes
1. a study of the costs of electricity generation for a sample of 112 british firms innbsp 1946 - 1947 yielded the
Contain C, H, and O, is the main energy source for the body, protect and lubricate the cell, absorb water to lubricate skeletal joints, and participate in cell cell recognition and adhesion processes
Why is it not possible for the Fed to predict exactly how large an increase in the money supply (M1) will result from a given open market purchase.
the typical firm in a perfectly competitive market manufacturing an appliance part has long-run total cost of tc
now assume that the cigarette industry is perfectly competitive and that cigarettes are identical. we also assume that
On the graph, use the letters to represent the area of relevant parts of the graph: What is the pre-tax consumer surplus? What is the post-tax consumer surplus? What is the pre-tax producer surplus
Compare the political scientist's view of government and economic policymaking and the Public Choice conception of politicians, bureaucrats and special interest groups in the political process. Which do you consider to be more realistic for unders..
Calculate the maximum amount that we would be willing to pay to get rid of our loss. If we could buy an insurance policy for $30,000, which would completely pay for the medical treatment that we may need, should we purchase this insurance policy? Exp..
write a proposal of no more than 750 words outlining the research approach you will use for your strategic plan.
Comparative statics in Solow's Model
Examine the major implications for firms entering into a merger. Explain the criteria the U.S. Department of Justice and the Federal Trade Commission would follow when deciding on whether or not to approve a proposed merger.
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