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We manufacturer automobiles given the production function q = 5KL where q is the number of autos assembled per eight-hour shift, K is the number of robots used on the assembly line (capital) and L is the number of workers hired per hour (labor). If we use K=10 robots and L=10 workers in order to produce q = 450 autos per shift, then we know that production is:
A) technologically efficient
B) technologically inefficient
C) maximized
D) optimal
Suppose that the price of Hershey’s chocolate increases. What would happen to equilibrium price and quantity in the market for Godiva chocolate? Be able to draw the graph that illustrates your answer.
Investors commonly use the standard deviation of the monthly percentage return for a mutual fund as a measure of the risk for the fund; in such cases, a fund that has a larger standard deviation is considered more risky than a fund with a lower stand..
Interest rate if no one else will give me a loan? Will I be better or worse off as a result of taking out this loan. How can you make a case for legalizing loan-sharking.
Illustrate what is the relation between marginal benefit and marginal cost at this level of the control variable.
The data is listed per quarter, and real GDP data was calculated using 2005 as the base year. Fill in the columnns for the GDP deflator and for the percent increase in price level.
The 3 tools for conducing monetary policy are changing reserve requirements, changing the discount rate, and open market operations. Elucidate how each of these tools works.
Identify four different types of Regional Trade Agreements (RTAs). 2. Examine the European Union (EU) and its current state. Discuss how the EU is related to RTAs. 3. Discuss the benefits and negative aspects of using a common currency.
Compute the output and price of wood working if it is produced under competitive condition without regulation. Determine the socially efficient price and output of woodworking.
a) What these numbers mean and how can they assist his business? What he needs to do to "make more profit"?
Assume the annual demand for liquor in Mississippi. The supply of liquor is given by the equation Qs= 30,000P. Solve for the equilibrium annual quantity and price of liquor.
During the past year, gasoline prices have been very volatile. One reason given for at least some of the volatility is the threat of war between Israel and Iran. More recently, there has been a report of serious fire damage to Venezuela's largest ref..
The majority of the world's diamonds comes from Country A and Country B. Suppose that the marginal cost of mining a diamond is $1,000 per diamond and that the demand schedule for diamonds is as follow there is moreshow problemThe majority of the worl..
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