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A firm produces according to the following production function: Q=k^.5L^.5 where q= units of output, k= units of capital, and L= units of labor. Suppose that in the short run k=100. Moreover, wage of labor is w=5 and price of the product is p=10. What are the optimal units of labor?
Prisoner's dilemma is a game that has been and continues to be studied by people from a variety of disciplines, from biology to sociology to public policy. Prisoner's dilemma is believed to be one of the most powerful metaphors in all of human behavi..
Illustrate what direction wills each of the subsequent occurrences shift the consumption also saving schedules, other things equal.
A company manufactures radios. If x is the number of radios that retailers are likely to purchase. Elucidate the revenue function of the manufacturing company.
What happens to market price and quantity if demand rises but supply falls? Draw them with labels. Qd rises from 40 to 60 if P falls from 12 to 8. PED? Show the formula first and then all calculations. Qs falls from 24 to 16 if P falls from 18 to 12...
According to the article about the gasoline shortage, which way is the demand curve shifting
Illustrate what should be the production level if fixed costs rose to $50,000 per month. Explain.
Students are required to write an essay on a significant, recent economic event or activity and discuss an economic activity or event of interest and apply it to theoretical models and economic laws introduced during your study of topics.
What is the expected impact of fall the business confidence. Explain with suitable diagram. Will monetary policy help to increase the investment by private sector in the presence of fall in the business policy.
Comput the following with an explanation how you arrived at each result. The Amount Consumers will spend on new consumption.
Suppose that they are thinking of every specializing completely in the area in which they have a comparative advantage also then trading.
explain exactly how you would take advantage of this situation to create a riskless profit.
A competitive advantage furthermore earns a life span income of $6 million moreover the non-steroid user earns $1 million.
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