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Goleta Brewing Company hires only two types of labor, managers and brewing assistants (denoted by M and B, respectively). GBC has the following Cobb-Douglas production function F(M,B) = m5 B5 and wants to produce 10 barrels of pale ale this week. If the wage of managers is $50 per hour and the wage of brewing assistants is $10 per hour, how many managers and brewing assistants should the firm hire (round to nearest whole number)? How does your answer change when the wage of manager’s decreases to $30 per hour and the wage of brewing assistants remain constant? Is this result consistent with your intuition? Solve analytically.
Alan accepted an invitation from his friend Donald to attend a baseball game. The seats Donald had purchased were very good, a few rows up from the field, and just past first base. Alan actually knew nothing about baseball. Advise what arguments Alan..
An emissions fee is paid to the government, whereas an injurer, who issued and held liable, pays damages directly to the party harmed by an externality. What differences in the behavior of victims might you expect to arise under these two arrange..
Compare the market-wide result of the individual perfectly competitive firms' choices of profit-maximizing output level with the choice of the monopolist. Explain the implications of the break-up for the profitability of industry members
If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to 105, What is the percentage increase in nominal output? What is the percentage increase in the price index?
Your weekly costs to producing q units are given by the following equation: C(q)=7+10q+3.5q2 +q3. With this technology, AC is minimized at approximately q = 1.11. What is the long-run equilibrium price of in this market, given that there are no barri..
What do you think he would suggest as an economic plan for our economy. Would they agree or disagree with the current policies.
Describe how changes in the macro environment affect individual firms and industries through the micro economic factors of demand, production, cost and profitability.
The muffler on your car suddenly needs repair, also there are only two automobile repair shops in town.
You're the manager of xyz inc. also must decide Elucidate how much output to maximize your firm's profit.
What are lags in monetary policy? What causes inside and outside lags in monetary policy?
Illustrate what is the marketing concept recognizes that individuals pass through stages in the course of their lives in groups that are related to their age, period of mat¬uration, and environmental events.
Compute the incremental profit Electron Control would earn by customizing its instruments and marketing directly to end users.
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