Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question: Suppose that a firm uses both labor (L) and capital (K) as inputs and has the long-run production function
Q = F(L, K) = L x(√L + K).
Suppose its capital is fixed at K= 3 in the short run.
a. How much does the firm produce in the short run (using efficient production methods) if it hires one worker? units of output.
b. How much does it produce in the short run if it hires two workers?
c. How much does it produce in the short run if it hires three workers?
In a competitive industry the market-determined price is $12. A firm is currently producing 50 units of output; marginal cost is $15, average total cost is $10 and average variable cost is $7. In order to maximize profit, the firm should:
Explain the Efficiency of markets, Costs of taxation and Benefits of international trade concepts using the concept of consumer and producer surplus.
The government provides national dental insurance benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effects of this policy. First, there will be an increase in the number of consumers of dental servic..
Give an example of a pair of goods, e.g., all green beans and blue lake green beans, where one good has a more elastic demand than the other.
Watch Out for Rising Dry-Cleaning Bills In the past year, the price of dry-cleaning solvent doubled. More than 4,000 dry cleaners across the United States.
What qualities would ideally suit a monopolistic firm with regard to barriers to entry - Why would labor be treated as a variable cost?
Harte contracted with Connolly to install a new roof on Connolly’s house. It was agreed that the roofing shingles were to be “russet glow” a shade of brown. The roof was installed, and many of the shingles were discoloured showing streaks of yellow.
What is the maximum amount bank can expand its loans and what will happen to the M1 money supply if it makes the loans in (b) above and those funds are deposited into another bank by the borrowers?
With use of a graph,explain how these two programs affect cigarette consumption and explain the combined effect of these two programs on the price of cigarettes.
Suggest ways in which logistics can play a part in the marketing mix for a manufacturer of cleaning products like CleanCo (Case study 2.4);
What is the difference between federal purchases and federal expenditures? Are federal purchases higher today as a percentage of GDP than they were in 1960? Are federal expenditures as a percentage of GDP higher?
Write the equation of a straight-line model relating total area (y) to number of structurally de?cient bridges (x). The model, part a, was ?t to the data using Minitab as shown in the accompanying print- out. Find the least squares prediction equati..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd