Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A farmer purchases nitrate and phosphate fertilizers to produce wheat. The farmer decides to produce a given level of output by using the most efficient or least costly combination of the two fertilizers. The price of nitrate is 80 cents per pound and the price of phosphate is 50 cents per pound. Moreover, the farmer chooses an input combination such that the marginal productivity of a pound of nitrate is 8 (bushels of wheat) and the marginal productivity of a pound of phosphate is 4 (bushels of wheat). Which of the following should the farmer buy?
a. More nitrate and more phosphate.
b. Less nitrate and more phosphate.
c. Less nitrate and less phosphate.
d. More nitrate and less phosphate.
e. There is no need to buy more (or less) of either input; the current combination of nitrate and phosphate is optimal.
Owner of a haulage business is planning to invest in a new eighteen wheeler that costs $180,000, use it for 5 years and then sell it off for $90,000 dollars. At 7% interest rate, how much net revenue the investment has to at least produce each year t..
The U.S. government has a legal monopoly on the printing of U.S. currency. For the sake of this question, suppose the government decides to relinquish its monopoly—the Department of Justice will “break up” the federal government’s monopoly on U.S. cu..
Suppose profit-maximizing price taker firms all have identical Long Run Total Cost Curves: Tc= 25+ Q^2. What price will lead to zero profits?
Ole Harry is the skipper of the Better Late Than Never, a VERY slow freighter that runs from Singapore to Los Angeles and back without making any other stops. The boredom of the voyage results in high worker turnover. What can Ole Harry do to screen ..
Find Gillette's profit-maximizing price and quantity of output for the Mexican market overall. How will Gillette allocate production between its Mexican plant
What is the point elasticity of demand at equilibrium? -What is the marginal revenue at equilibrium?(use equation connecting MR and P) If marginal cost is constant $8 dollars, should we keep producing and selling? until which point we can keep produc..
Provide names three countries that lack independent central banks and their inflation rates.
Lora, Missouri, must either contract out its landfill operations or build a new municipal landfill.
In a market economy, every resource will tend to be paid according to its marginal product. Highly productive resources will command high prices, whereas less productive resources will command lower prices.
Determine the standard error of estimate and the coefficient of determination. Interpret the coefficient of determination.
Apply supply and demand analysis to price determination and predict changes in supply and/or demand Analyze the effects of elasticity on consumer and business behavior
Demand is said to be inelastic when
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd