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Suppose the production function for good q is given by q = 3k + 2l where k and l are capital and labor inputs. Please answer the following questions: (1) What is the return to scale for this function? (1) What is the RTS of this function?
illustrate what steps would you as an auditor take to assure you have minimized the potential for audit risk making a positive evaluation of the firm's financial status when it is in fact negative.
q.a mechanical engineer who recently graduated with a masters degree is contemplating starting his own commercial
In addition to reviewing all the course materials, you should view the movie Inside Job, which is a look at corporate accountability regarding the ongoing international financial crisis. Incorporating facts and ideas presented in the course, includin..
An apparel manufacturing plant has estimated the variable cost to be $21 per unit. Fixed costs are $1M per year. Forty percent of its business is with one preferred customer and the customer is charged at cost (without profit). The remaining 60% of t..
Which of the policies is/are a monetary? - Which of the policies is/are fiscal? - What are the differences between monetary policies and fiscal policies?
An increase in the minimum wage will tend to cause which of the following to ?occur?
Burlington Coat Factory Warehouse, Inc., had a dress code that required male salesclerks to wear business attire consisting of slacks, a shirt, and a necktie. Female salesclerks, by contrast, were required to wear a smock so that customers could read..
Who is hurt and who is helped by an increase in the legal minimum wage? Under what circumstances might a higher minimum not reduce employment?
If an individual is taxed at a 17 percent rate for each extra dollar earned, the reference is to the
Soundscape Enterprises manufactures Sonoblast, a device that produces a high-pitched reminder to telemarketers that they have once again disturbed you just when you were sitting 1⁄2 down to dinner. Give the formulas for the short-run production funct..
Consider the iron ore production industry, and assume that there are just two producers, FM and BHP. Initially assume that both firms are identical in terms of their production costs. If the two firms can cooperate, what should they do in order to ma..
In the spring of 2002, lettuce price doubled from about $1.5 to $3 per head. The reaction of one consumer was quoted in newspaper article; "I will not buy lettuce when it is a $3 a head" she said, adding that other green vegetable can fill in for let..
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