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A certain production process employs two inputs - labor (L) and raw materials (R). Output (Q) is a function of such two inputs and is given by the following relationship:
Q = 6L2 R2 - .10L3 R3.
Suppose that raw materials (input R) are fixed at 10 units.
Determine the number of units of input L that maximizes the total product function.
a. 2b. 4c. 3d. 1
Evaluate the money multiplier? The central bank decides to increase the money supply (M1) by $200 million through an open market operation. How much should it buy in bonds?
In what particular ways (if any) does a college education increase a worker's productivity? Take some special care with this problem.
What is the average fixed cost of producing 2 units of output based on the following table:
Assume you ran the only bakery in town. Further suppose that it was currently very profitable. A. What things might you consider if you wanted to ensure that you continued to enjoy the same success in the future?
Suppose that MN Company is currently selling 300 units of Product SD per month. Management wants to increase sales and feels this can be done by cutting the selling price by $22 per unit and increasing the advertising budget by $20,000 per month. ..
You're the manager of monopoly. A typical consumer's inverse demand function for your firm's product is P=100-2Q and your cost function is C(Q)=20Q. Find out the optimal two part pricing strategy.
Compute the industry price necessary for firm to supply 10,000, 20,000, and 30,000 pounds. Compute the quantity supplied by the firm at industry prices of $1.50, $2.50, and $3.50 per pound.
Operating Cash Flows. Laurel's Lawn Care, Ltd., has a new mower line that can generate revenues of $120,000 per year. Direct production costs are $40,000 and the fixed costs of maintaining the lawn mower factory are $15,000 a year.
You work for the company that is being accused of monopoly behavior, given its large size. Comparisons are made to the industry standard, where each establishment has on average about 15.1 employees.
Describe the major characteristics of monopolistic competition and oligopoly.
Discuss on relationships between production and cost, highlighting the equivalence between diminishing marginal productivity and increasing marginal costs.
Write an assembly language subroutine
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