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Suppose that a semiconductor plant's production function is q = 5LK, where q is its output rate, L is the amount of labor it uses per period of time, and K is the amount of capital it uses per period of time. Suppose that the price of labor is $1 a unit and the price of capital is $2 a unit.
a. The firm's vice president for manufacturing hires you to figure out illustrate what combination of inputs the plant should use to produce 20 units of output per period. What advice would you give? Explain.
b. The same as in (a), but the plant needs to produce 40 units of output. Explain.
c. Compare your answers to part (a) and (b) and explain the scale effect. Explain.
d. The same as in (a) but the price of labor has risen to $2 a unit. Explain.
Assume a household receives a grant of $500 of food stamps every month. How will this household's budget line be affected.
Compute how this policy affects consumer surplus, and the cost of pollution. Would you recommend this policy.
Also during that first year, the cookie business incurred costs that required outlays of money amounting to $9,000. What was Zach's economic profit (loss) for the year.
You arranged the subsequent information to use in evaluating the financial feasibility of starting your own agency.
Compute the price elasticity also advertising elasticity. Interpret each one. Illustrate what is the predicted range of Demand for Sun workstations with 95 percent (%) confidence level.
Explain the steps that would be used to conduct a Benefit-Cost Analysis of a government policy to alleviate the problem.
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what is the size of the bank's actual reserves. Required reserves are 10 percent of transactions deposits under the assumptions of the simple multiplier formula, then eventually the money supply will increase by.
If the company has not paid dividends, discuss why think the company is not paying dividends or whether they should consider adopting a dividend policy.
The aggregate marginal cost function for the other manufacturers of polyglot. Illustrate what is the total market Demand for polyglot at the price established by Alchem in Part
You can suppose any single peaked preference which you want and Characterize the equilibria of the model.
What can you provide as advice to a manager concerning their choice on the quantity of labor and quantity of capital.
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