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Suppose that a firm's only variable input is labor. The firm increases the number of employees from four to five, thereby causing weekly output to rise by two units and total costs to increase from $3,000 per week to $3,300 per week.
Ear Us production function is Q=KL. The company over the years uses input rates of 60 and 75 for capital and labour respectively. The price of capital is $40 and labour is $35 per ear phone. If $58000 is allocated to production, what is the maximum o..
How do prices, output, and profits differ between monopolies and monopolistically competitive firms.
if la jolla could obtain additional of the white wine, should they do so. if so how much should they be willing to pay for each additional gallon and how many additional gallons would they want to purchased
What are three key events of the twentieth century that have shaped international relations today? Describe the events you choose and explain each of your choices.
You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditional method. Compute the total revenue, the total cost, and the profit at the..
Bid-ask spreads: Suppose you contact your currency dealer at Credit Agricole and obtain the following quote on US dollars, priced in Swiss franc (SF). How much would it cost to buy SF10,000,000? Suppose you wish to sell SF 10,000,000. How many dollar..
q1. when crude oil price controls were in place illustrate what would have been the welfare implications of a ban on
A consumer buys only two goods, X & Y. a) If the MRS between X and Y is 2 and the marginal utility of X is 20, what is the marginal utility of Y?
Suppose that the labor market is competitive and there are a total of 1,000 black workers and 1,000 white workers (who each supply their labor in elastically). Both black and white workers are equally productive, having constant individual dollar pro..
"Exotic" mortgages became popular in part because they allow someone of:
Suppose the price of good 1 is $2, and the price of good 2 is $1. Derive Pete’s demand function for good 1 (as a function of income). Is good 1 normal for Pete? How about good 2? Plot the Engel curve for goods 1 and 2 (with income on the horizontal a..
What is the difference between the Federal Reserve’s “discount rate” and the “federal funds” rate? Why is the discount rate in the US not as important in financial markets as the federal funds rate?
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