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Consider the following information in the table for Pat's Pizza Restaurant and answer the questions below.
Marginal Product of Capital 4,000Marginal Produce of Labor 100Wage Rate $10Rental Price of Pizza Ovens $500a. Is the owner of Pat's Pizza Restaurant minimizing cost?b. Should he rent more ovens and hire fewer workers or rent fewer ovens and hire more workers? Explain.3. Consider a firm's production decision in both the short-run and long-run. Explain what type of input costs might be fixed in the short-run and which might be variable in the short-run. Provide one example of each.
The CEO and COO in the United States hope to use your writing and experience to convince other workers of value of what Acme is doing abroad.
(a) What is the level of price, output, and amount of profit for an unregulated monopolist (b) Using the data in the table, what are the price, output, and profit for a regulated monopolist that sets price equal to marginal cost compared with an u..
Using budget lines and indifference curves, prove to your colleague that he is wrong - decompose the change in price into two components: pure substitution effect, and income effect.
Provides a background commentary on the cost structure and the level of competition experienced by your firm/industry. You must include demand and supply factors, fixed and variable factors/costs, price elasticity and the aims of the firm/industry..
Suppose that the money market is initially in equilibrium for an economy. Describe with the aid of a diagram how market adjusts to an increase in money supply, an increase in real GDP
An improvement in soft drink bottling technology and an increase in the prices of sugar and high- fructose corn syrup.
Potato chip industry in Northwest was competitively structured and in long run competitive equilibrium; companies were receiving a normal rate of return and were competing in a monopolistically competitive market structure.
The monetized disutility of getting an MBA degree (including the actual cost) is $10,000 for a motivated worker and $20,000 for the unmotivated worker. An employer does not know workers' motivation level.
Suppose your marketing department does a survey of potential users and finds that these users place the following values on the two versions of your software If the numbers of home and commercial users are equal, and you cannot distinguish between ..
What are the difficulties in measuring this within one country and making comparisons of the standard of living of people in different countries?
Despite the absence of patent protection, Semi-Salt has averaged accounting profits of 5.5 percent on investment since it began producing polyglutamate- a rate comparable to the average rate of interest that large banks paid on deposits over this ..
Apple, determine how market commonality and resource similarity impact Apple's competitive standing in terms of its main rivals. Provide specific examples to support your response. Determine what additional steps Apple's competitors are likely to t..
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