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Question:
Suppose the firm's production function is X=10K.2L.6
The price for the factors of production are Pk=10 and PL =20
Determine the profit-maximizing output and price. b. Calculate profits and deadweight loss. c. If this was a monopolistically competitive firm, would your answer in parts a and b change.if this was a monopolistically competitive firm, what would happ..
George says, "If the amount of product differentiation in a monopolistically competitive industry is very small, the outcome in that market will not be very different than if it were a perfectly competitive industry."
Describe a real or hypothetical situation that requires someone to make a policy decision. Then, select one of the three approaches to forecasting to apply: extrapolative, theoretical, or judgmental. Provide at least two reasons for your selectio..
Explain how much of input 2 does it use. Illustrate what is the most that it is willing to bribe an inspector to allow it to use another unit of input 1.
desired consumption is cd 2000 0.9y - 100000 r - g and desired investment is id 1000 - 45000r. real money demand is
Will recessions starting in the US be more easily transmitted to Canada under a fixed or flexible exchange rate system. Use the appropriate graphs to illustrate your discussion.
Later Henry ford invented the assembly line for manufacturing automobiles, other automobile firms copied his invention.
Often it is claimed that banks create money by making loans. How can commercial banks create money? Is the government the only institution that can legally create money?
Fed Sees Unemployment and Inflation Rising It is May 2008 and the Fed is confronted with a rising unemployment rate and rising inflation. Source: CNN, May 21, 2008. Explain the dilemma faced by the Fed in May 2008.
The financial analysis department at MorTex estimates that the price of a textile machine is $ 600 per day. Can management reduce the cost of assembling 5,400 units per day by purchasing a textile machine and using less labor? Why or why not?
From the e-Activity, compare and contrast the opposing viewpoints regarding the current administration policies in the areas of health care and taxation. Explain the impact these policies will have on you and your family.
Why would the government implement a stimulus program into the economy
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