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Assume a change in price causes the price elasticity of demand for a good (in absolute value) and marginal revenue to decrease. In this case we can conclude that the price of the good was:
A. Decreased
B. Increased
C. Held constant
Small firms can discover the abilities of their workers more quickly than large ones because they can observe the workers more closely at a variety of tasks. Does it then make sense for people with high abilities to go to small firms
What is the relationship between these two goods and explain what the coefficient means in numeric terms - Explain what the coefficient means. Should the firm increase or decrease the price of Pro Bikes? Why?
The vertical portion of the aggregate supply curve shows that at full employment an increase in the price level will:
In which type of handling system is labor cost generally the highest percentage? mechanized semiautomated automated information-directed
Give some examples of waiting lines in everyday life. What decisions should managers of such systems consider? Try to consider the production line as well as waiting in the queue.
Consider the production function Q=100L^.5K^.4. Suppose L=1 and K=1 so that Q=100. Explain the nature of returns to scale for this production function.
please answe both questions no more than 250 words these are short answer questions do not need 2-3 page answers.1.
health administration question answer each of the questions below note that eachquestionis of equal weight and that
Suppose a firms production function is given by Q= L^1/2 * K^1/2. The marginal product of labor and the marginal product of capital are given by: MPL= K^1/2 /2L^1/2 and MPk= L^1/2/2K^ 1/2.
abc corp. owns a piece of land and building a few miles from its headquarters. the land originally cost abc 500000 to
Answer the following scenario thoroughly utilizing key terms and concepts covered in the previous units reflecting full understanding of the concept of macro economics as it relates to the scenario described. Provide examples and clear rationaliza..
1 you are a factory owner who has just purchased a new machine for 5000. over the next year it would have cost you 1000
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