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Suppose that the production function for floppy disks is given by Q = KL2 L3 where Q is the number of disks produced per year, K is machine-hours of capital, and L is man-hours of labor flow of capital service. a) Suppose K=600. Find the total product function and graph it over the range L=0 to L=500. Then sketch the graph of the average and marginal product function. At what level of labor L does the average product curve appear to reach its maximum? At what level does the marginal product curve appear to reach its maximum? b) Replicate the analysis in (a) for the case in which K=1200. c) When either K=600 or K=1200, does the total product function have a range of increasing marginal returns?
An apparel manufacturing plant has estimated the variable cost to be $4.50 per unit. Fixed costs are $500,000 per year. Forty percent of its business is with one preferred customer and the customer is charged at cost. If 150,000 total units are sold ..
q.jo thomkins ought to make a decision whether or not to proceed with a particular investment project. if the project
If income elasticity of demand is 2.12, it means that quantity demanded will __________ by 2.12 percent for every __________ percent __________ in income.
If the marginal revenue from a product is $15 and the price elasticity of demand is ? what is the price of the product?
Which of the following is an interest rate target specified in the FOMC directive?
The installed cost of a conventional electric hot water heater is $200. A family of four uses an average of 300 liters of hot water a day, which will require $350 worth of electricity each year.
Suppose you have a firm that faces a %50 tax rate. Suppose you have an increase in operating revenue of $25000 and an increase in operating expense of $30000, what is your change in net cash flow?
Suppose which gross private domestic investment is $800B also the government is currently running over a $400B deficit.
Discuss the organizational structure of your selected organization, then compare and contrast it with two different organizational structures.
If Price elasticity of demand for restaurant meals is 2.27 and restaurant meals wants to increase slaes by 45% by illustrate what percentages would the price have to decrease to get the intended resualts.
Consider an agricultural subsidy provided by the US government. Consider also that milk is one of the products subsidized. If there is NO trade with the rest of the world, the domestic price of milk in the US would be $2.25 per gallon and the equilib..
Do the following events represent business transactions? Explain your answer in each case.
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