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Solve for profit maximizing number of workers that would be hired given the following information. Then solve for the level of profits. Y= 30L- L2, P= 50, W= 400, FC= 1600
- Consider if the wage was to increase. All else being equal, what happens to the number of workers hired? What happens to the profits? Explain your answers using the equilibrium condition and justify with math.
- Consider if the price was to increase. All else being equal, what happens to the number of workers hired? What happens to the profits? Explain your answers using the equilibrium condition and justify with math.
- Consider if the fixed costs were to increase. All else being equal, what happens to the number of workers hired? What happens to the profits? Explain your answers using the equilibrium condition and justify with math.
There is a firm with technology that can be described by the production function y = 4z1^1/2 + 2z2^1/2 with output price p = 6 and input prices w1 = 2 and w2 = 6. Now assume that the firm is making long-run decisions and can choose input 1 (z1) and i..
Which of the following best represents economic growth? It has been noted that a country that grants a considerable amount of economic freedom will experience: Economic growth is enchanced when: The acquisition of more than 10% of the shares of owner..
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX? Compute the loss in social welfare when an $8 per unit price floor is imposed on the market.
4-10calc A U.S. auto maker plans to build two more plants in China as it aims to harness continued growth in Asia. The company estimates that it must make annual investments of $40 thousand over a 15-year period. How much would the company have to in..
illustrate what is the minimum range within which the sample average failure rate must be found to justify with 95% confidence the advertised failure rate of 0.5%.
Suppose the price of labor is w = 18, and the price of capital is r = 2. Derive the firm's total cost function.
What is the present worth of each of the deals? Your company uses a MARR of 15% for this sort of analysis.
Marginal rate of substitution between leisure as well as labor as well as the marginal product of labor in the Robinson Crusoe model.
Assume that you are Best Buys, the electronics retailer, and that you would like to enter the hardware component of the market. You have been approached by investment bankers for Zenith, which while still a recognized brand name, is on its last legs ..
Right now the United States has some of the lowest interest rates in the world. This would: (a) cause the USD to appreciate more foreign investors
Carefully think about O/v and I/v. O is the annual operating cost and v is the number of units produced PER YEAR. You might be given O/v as a ratio where the annual operating cost has already been calculated. If the capital for a project was $400 mil..
You and your boss are having a discussion about a changing supply factor for the good you bring to market. You manufacture widgets, specifically left-handed widgets for sale in the Maryland marketplace. Your boss has won awards celebrating her entrep..
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