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Acme Container Corporation produces egg cartons that are sold to egg distributors. Acme has estimated this production function for its egg carton division: q = 24L0.5K0.5 such that MPL = 12K0.5L-0.5 and MPK = 12L0.5K-0.5. Acme currently pays a wage of $10 and rental price for capital of $25. Find the minimum cost input bundle (L*, K*) to produce 1000 egg cartons?
assume that the total value of the following items is 780 billion in a specific year for upper mongoose net exports 50
Calculate real growth per capita in the following countries
A manufacturer of small plastic injection molded parts (caps, closures, fitments and pipettes) was experiencing static electricity problems during various steps in their molding and handling operations. The static caused the plastic parts to cling to..
Converting data info to understand past and current performance is the core of descriptive analytics and is vital to making good business decisions. In the financial industry describe the details of a specific graphical representation of the distrubi..
Write a paper of 500 words, not including the title and References page, that analyzes the need for health care reform. Include the following in your paper: Identify concerns about cost, quality, and access to the current U.S. health care system. Ans..
q.the solow growth model. in 2010 japan was a large open economy with perfect capital mobility that was at its steady
A newspaper cartoon shoes a wealthy person standing on a pile of money saying "your greed is hurting the economy!" to a fellow who clearly has no money but arries a sign demanding the minimum wage to be raised. What effects would a binding minimum wa..
q1. explain why the following situations would occur in terms of the factors that affect elasticity.a demand for
Suppose that in a week the price of Greek yogurt increases from $5.00/lb to $5.25/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,000 lbs to 125,000 lbs. What is the price elasticity of supply for Greek yogurt?
Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5,000. However, Richland’s real GDP per person is growing at 1 percent per year, and Poorland’s is growing at 3 percent per year. Compare real GDP per person in the two..
The value of cross price elasticity of demand between goods A and B is 0.75, while the cross price elasticity of demand between goods A and C is -1.38. Characterize A & B and A & C as substitutes or complements. Explain why this is the case.
Suppose the production function for T-shirts can be represented as q = L^0.25 K^0.75. When K = 1 and q = 2, what is the slope of the isoquant? If there is insufficient information to answer the question, describe what information is additionally need..
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