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Suppose we now care about the long run decisions of a firm that has a production function of the form q = 4L^1/2 + K
Suppose w = 1 and r = 0.5
At the same input prices, the firm chooses now to produce 20 units of output.
(a) What are the optimal choices of inputs for this firm?
(b) Do you find something unusual what compared to the optimal choices for q = 10 in question 4a?
(c) What are the total costs?
Who has the same preferences as Bill?. Who has the same indifference curves as Bill? Explain why the answers to (a) and (b) differ.
change if buyers pay $8 every unit to the intermediary but sellers offer to rebate part of that expense to buyers.
Which of the following was responsible for slower economic growth before the Industrial Revolution? There was no instance of technological innovation.
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Discuss Fully. "Given that labor remains relatively immobile within Europe, the European Union's success in liberalizing its capital flows may have worked perversely to worsen the economic stability loss due to the process of monetary unification."
Scott Jensen owned two hundred acres of farmland in California. A creek flowed through the land, and Jensen used water from the creek to irrigate his crops. The water was adequate for his needs. apply stare decisis and divide the water rights because..
Describe the Taylor rule. If the Fed were following the rule, what would the nominal Fed funds rate be if inflation over the past year were 4% and output were 1% below its full-employment level?
Calculate the approximate total tax revenue if all of the coal burned in the United States was burned under a $100/ton carbon dioxide tax. Do this (a) for one year at the present rate and (b) for the total U.S proved reserves. Assume 100% carbon for ..
MPC = 0.75. Calculate the spending multiplier and the tax multiplier. Spending multiplier = 2.5. Calculate the MPC and the tax multiplier. Tax multiplier = 4.0. Calculate the MPC and the spending multiplier
What are the variable costs that Taco Bell faces? Consider the changes that the leadership in this article is seeking to make. What do you predict will be the effects on Taco Bell’s profits relative to its competitors if they are successful ahead of ..
q1. the precursors of todays engineers listed in the quotation from wickenden had no classes and few or no books from
The college has annual fixed costs of $10 million, and the variable cost for each additional student is $5,000. To continue operating, the college must receive payments equal to its total costs.
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