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Suppose Goncalo hires workers at his supermarket at a wage of $12/hour. He also uses checkstands (i.e., capital) with a rental rate of $10/hour. Production of customers served (i.e., output) is determined by the hourly production function f (L, K) = 0.5L3/4K2 . If Goncalo wants to serve 400 customers per hour, how many workers and checkstands must he employ? How much will it cost to serve 400 customers per hour?
Midlands Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of £410,000 on sales of £2,000,000. The company’s average operating assets f..
How would the social gospel be the same as people who say that the bible is a book of morals and that the actual stories are fictitious to make a point.
Microeconomics - study of individual behaviour - individual industry like education, meat industry, tourism and agriculture. Choose any ONE industry in Australia from this list and discuss the reforms been done in that industry. Cost of production- i..
What are some recommendations and considerations that can be taken to accommodate fintech in the market?
A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5. Eleven sellers are also willing to sell at the same prices. What is the equi..
Assume that the low-calorie frozen, microwavable food company from Assignments 1 and 2 wants to expand and has to make some long-term capital budgeting decisions. The company is currently facing increases in the costs of major ingredients.
Evaluate the effectiveness of government regulations in achieving a reduction in the consumption of demerit goods
Discuss the confidence interval approach and the test of significance approach in hypothesis testing.
Why were smokestack in the US built as tall as they were? Did it reduce pollution?
What effect, if any, would consumers pulling money out of their checking accounts and putting it into home safes have on investment, interest rates, and GDP?
Four political candidates are deciding whether or not to enter a race for an elected office where the decision depends on who else is throwing his or her hat into the ring. If we assume that their choices are consistent with Nash equilibrium, who wil..
Aliyah purchased Verizon Communications stock in April 2015 for $48.90 per share. She sold the stock one-year later for $54.01 per share.
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