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The production function F(L) = 6L^(2/3). Suppose that the cost per unit of labor is $8 and the price of output is 4, how many units of labor will the firm hire?
Your parents will retire in 23 years. They currently have $240,000, and they think they will need $1,600,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds
If the price of good x fell to $1, what is the new optimal choice Explain what happens to the optimal choice as income increases. What is fundamentally different about the optimal choice when income is below $18(and Px=2) then when income is great..
Assume the market is characterized by a Cournot oligopoly. Determine the reaction function of each firm. Determine the equilibrium output level for each firm. Determine the equilibrium market price. Determine the market output. Determine the market p..
A city engineer knows that she will need 25 million in 3 years to replace toll booths on a toll road in the city. Traffic on the road is estimated to be 20 million vehicles per year. How much per vehicle should the toll be to cover the cost of the..
What is the marginal product of the third worker What is the marginal revenue product of the second worker What is the marginal cost of the fourth worker Based on your knowledge of marginal analysis, how many workers should you hire
E-loan,an online lending service,recently offered 48month auto loan at 4.8% compounded monthly to applicants with good credit rating. If you havae a good credit rating and can afford monthly payments of $480.
In fact, he has operated this livestock operation for over 20 years. in the past, his farm was fairly isolated. however more recently the nearest city, woodpile, has been expanding. thus, there are now residential homes fairly close to Brain's far..
THis is question about a dominant firm competitive fringe model P=5000-Q
The attendance at baseball games at a certain stadium is normally distributed, with a mean of 44,000 and a standard deviation of 2500. For any given game: a) What is the probability that attendance is greater than 46,000 b) What is the probability ..
In 1885, first class postage for a one-ounce letter cost $0.02. The same postage in 2011 costs $0.46. What compounded annual increase in the cost of first-class postage has been experienced over this period of time
If five tickets are purchased, (0, 0, 0, 1, 0) is a possible observed sequence in which the 4th ticket is a winner and the other four are losers. Assuming independence among winning and losing tickets, what is the probability of this outcome
For ATC and AVC, plot the points on the integer: for example, the ATC of producing one tablecloth is 80, so you should start your ATC curve by placing a green triangle at the point (1, 80). For MC, plot the points between integers.
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