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Consider a firm for which production depends on two normal inputs, labor and capital, that are not perfect complements. Initially the firm faces market prices of w = 10 and r = 8, for labor and capital. These prices then shift to
w = 7 and r = 7.
a) In which direction will the substitution effect change the firm's employment and capital stock?
b) In which direction will the scale effect change the firm's employment and capital stock?
c) Can we say conclusively whether the firm will use more or less labor? More or less capital?
Now suppose that at the end of the year, Apple has sold 20.3 million iPhones. What was Apple's planned investment? What was apples actual investment?
Elucidate the price also quantity that maximizes the company's profit.
q. remington inc. purchases a machine that costs 700000 and has an estimated useful life of 10 years a macrs property
Assume the price charged in market 2 was $10, what would be the price charged in market 1?
Compute the t-statistics for each variable and explain what is inferences can be drawn from them.
What amount of profit is the firm earning? Is this firm in a short-run or long-run equilibrium? Why?
__________, a term referring to the fact that for many good, as the level of production increases, the average cost of producing each individual unit declines. Which of the following best characterizes the circular flow of income? “if I didn’t have c..
Illustrate what alternative decisions might you be able to make in the long run. Explain in 1 to 3 pages Clearly explain the factors of consider as your "Fixed Factor" and alternative short term and long term decisions.
For each level of output except zero output, calculate the average variable cost, average total cost and average fixed cost.
Discuss the social and economic effects of colonization? How did it contribute the “Price revolution”? What were the main tenets of bullionism/mercantilism? What policies and events combined to bring an end to the Spanish hegemony?
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
The taxable income excluding depletion is $50,000. Find the allowable depletion charge for that year. Answer $30,161 $25,000 $50,000 $97,500
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