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1. McFadden’s chief engineer recommends that the firm hire 400 hours of skilled labor and 100 hours of unskilled labor. Is this the optimal combination? Please describe and show all calculations.
2. If the McFadden Company decides to spend a total of $5000 on skilled and unskilled labor, how many hours of each type of labor should it hire? Please describe and show all calculations.
Explain how a firm values the contribution of workers to its profitability. Would a profit-maximizing competitive firm ever stop increasing employment as long as marginal product is rising?
suppose a bars constant marginal cost per beer is 3.60 and it was making 40 cents per beer in variable profit without
Research and development and the Level of Technology
What are the advantages and disadvantages of free trade From an economic point of view, is free trade better than limited or no trade Have you benefited from free trade how How is the economy impacted by trade
howard bowen is a large-scale cotton farmer. the land and machinery he own has a current market value of 4 million.
Suppose a second firm enters the market. Let Ql be the output of the first firm and Q2 be the output of the second. Market demand is now given by Ql + Q2 = 53-P Assuming that this second firm has the same costs as the first, write the profits of each..
Over the business cycle, real GDP tends to increase during the expansion and decrease during the contraction. Can you name some other macro variables that fluctuate over the business cycle like GDP does?
During the 4th-quarter of 1993, real GDP in US increase at an yearly rate of over 7 %. During 1994, the economy continued to expand with modest inflation
suppose you have 10 indivduals with vales 1 2 3 4 5 6 7 8 9 10. . our marginal cost of production is 2.50. what is the
the policies of the federal government influence the outcomes of the various activities in that economy. when
A monopolist has two types of customers. There are 100 Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge..
explain the points in the process where the vendor has an opportunity to add value, be sure to answer the following questions, how does value vary for a large purchase versus a smaller one, does adding value cost money
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