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The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function is given by and that capital is fixed at 1 unit.
a. Calculate the average product of labor when 9 units of labor are utilized.
b. Compute the marginal product of labor when 9 units of labor are utilized.
c. Suppose the firm can hire labor at a wage of $10 per hour and output can be sold at a price of $100 per unit. Determine the profit-maximizing levels of labor and output.
d. Illustrate what is the maximum price of capital at which the firm will still make nonnegative profits?
Illustrate what would you recommend that the firm do given this resource combination.
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Europe has leveled off at Illustrate what fraction of GDP every capita in the United States.
Illustrate what are the State's doing that is consistent with the constitution.
How could a company go about meeting those needs and thus motivate you to work better and harder.
MMM expects to generate $60,000 in earnings that will be retained for reinvestment in the firm this year.
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Explain how do you calculate the cost index using the nominal GDP to get the real GDP in billions
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