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Compute the marginal utility per dollar
Mary is consuming 3 hot dogs and 2 Cokes at the Bucs game. The marginal utility of the third hot dog is 60 utils and the marginal utility of the second Coke is 180 utils. The price of a hot dog is $1 and the price of a Coke is $4. From the information given, we can see that Mary consumed too many (hot dogs, Cokes) and too few (hot dogs, Cokes)
Impliment the formula to earnings rather than operating income also use a required return for equity of 9 percent.
Suppose a production function is given by f(K;L) = KL 2 What combination of labour and capital minimizes the cost of producing any given output?
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Elucidate what term do economists utilize to describe this second outcome
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