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The firms has the production function Q(K,L)=30K^.67L^.33, where Q is the hours of edited footage. The wage is $25, and the rental rate of capital is $50. The firm wants to produce 3,000 units of output (video shorts) at the lowest possible cost. a. What ratio of capital to labor minimizes cost? b. How much capital and labor will you need to rent and hire in order to produce 3,000 units of output? c. What is the total cost of hiring these inputs? d. Graph the isocost and isoquant associated with this example. Clearly mark the optimal point. Include the quantity and cost on the isoquant and isocost.
The U.S. government offers significant per unit subsidy payments to U.S. sugar growers. Describe the effects of the introduction of such subsidies on the market for sugar and themarket for artificial sweeteners. Explain whether the demand curve (D..
1. consider a macroeconomy was initially at equilibrium level of real gdp.nbsp using an aggregate supply diagram and
Explain what happens to price and quantity of milk when the following events take place: For each and every event, specify how it effects either demand, quantity demanded, supply, or quantity demanded. It is also important to demonstrate how the ch..
you are in charge of development for your housing nonprofit and two new grant opportunities have come to your
Social welfare functions embody a normative conception of the relative importance of equity and efficiency'. With the aid of diagrams, illustrate and explain this proposition.
multinationals operating in china has been setting up factories deep in the interior in search of affordable labor. for
you are told that 75 cents out of every extra dollar pumped into the economy goes toward consumption as opposed to
suppose that there are two products clothing and soda. both brazil and the united states produce each product. brazil
Identify the market structure(s) for the products listed Is advertising is associated with the identified market structure(s). If so, explain why advertising and/or product differentiation is important to this particular market structure.
drugs r us operates a mail order pharmaceutical business on the west coast. the firm receives an average of 325000 in
bulldiscuss how monetary and fiscal policy could have been better leveraged to avoid the recession in the early
please distinguish between the different categories of price elasticity of demand. i want to know how do you show the
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