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Suppose that the production technology is fully characterized by the Cobb-Douglas production function q = f (L,K) = ALαKβ with α+β < 1 and A,α,and β all greater than zero. MPL = AαLα-1Kβ and MPK = AβLαKβ-1 . (a) Does this production process have increasing, decreasing or constant returns to scale? (b) Set up the cost minimization problem and solve for the conditional labor and capital demands. (c) Derive the cost function and simplify the function as much as you can.
What is (are) the emerging structure(s) (not necessarily the final results) of increased economic interactions suggested by the interdependence, dependency and mercantilist perspectives
Describe the behavior of consumption, investment, labor, productivity, wages, the price level and the money supply over the business cycle both in terms of correlation, magnitude and lead vs lag. Give the economic intuition of the results on consu..
In a separate group discussion board, present two arguments. The first should argue in favor of the proposed merger, from the perspective of the firms. The second agrues against the proposed merger from the perspective of the broader public intere..
assume the economy is at short-run equilibrium and is in a slump. ceteris paribus what would you expect to happen to
Suppose that the economy is thought to be 2 percent above potential (that is, the output gap is 2 percent) when potential output grows 4 percent per year. Suppose also that the Fed is following the Taylor rule, with an inflation rate of 2 perce..
generally speaking many companies are interested in the potential cost savings of using the same product and
suppose two competitors coa inc. and han inc. are locked in a bitter pricing struggle in the aluminum industry. in
A critique of "The Political Economy of IMF Lending in Africa" by Randall Stone 2004
In 2005, The economist reported that France's real exchange rate had increased relative to Germany's real exchange rate during the preceding two years. How can this be true if both France and Germany used the euro as their currency.
the government is considering undertaking one of the four projects a1 a2 a3 a4. these projects are mutually exclusive
What is total U.S. government revenue from the tariff and if trade opens up, what will be the quantity of U.S. imports?
Critique or defend two (2) of Jevons' views on public policy. Substantiate your position with evidence of the success or failure of current public policies favored by William Stanley Jevons.
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