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We will find it simpler to work with a production function of one variable, the capital per labor ratio (k ≡ K/L). Define the production function in terms of the capital-labor ratio as f(k) = L1F(K,L) = F(K/L,1) = F(k,1). Derive this function for the Cobb-Douglas production function with constant returns to scale.
the u.s. cigarette industry has negotiated with congress and government agencies to settle liability claims against it.
Compare and contrast the advantages and disadvantages of instituting an import tariff, or an outright ban on the importation of certain goods into U.S. markets. Include in your research American trade agreements such as the NAFTA (North American Free..
All of us have our own perspective and how we look at things. What are some of the key elements you would consider when deciding how to approach an audience?
What are the trade-offs we make in financial decisions? Please explain.
Discuss whether there is a fundamental difference between bond portfolio evaluation in a high-interest market versus a low-interest one.
A leading organization, inspired by the Grameen bank, is attempting to provide loans to small farmers. it is leading to farmers in groups of two. Explain three reasons why a strategy of group leading may be better than a strategy of lending to indivi..
Fiscal policy consists of using government spending and/or taxes, to "manage" the economy. President Obama used almost $800 Billion in spending to try
The George Company produces chicken feed. When the feed has a price of $5 per unit, it produces 20,000 units; when the price falls to $4 per unit, it produces 15,000 units. Calculate price elasticity of supply for the chicken feed, using the techniqu..
Suppose that basketball players are, during any given game, in one of three states: Hot (they make 75% of their shots), Normal (they make 50% of their shots), or Cold (they make only 25% of their shots). Suppose Steph Curry is Hot. What is the probab..
a. Use the Monte Carlo method with n = 100 and n = 1000 to estimate integral top=1 bottom=0 cos(2px) dx. Compare the estimates to the exact answer.
What is the usefulness of the statement of cash flows? What does information contained in the statement of cash flows help investors?
If the firm currently has 10 units of capital (K) and 10 units of labor (L), then calculate the Marginal Rate of Technical Substitution (MRTSLK).
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