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The production function has the following form q= K + 2L where q is output, K is capital input and L is labor input. If the prices of inputs are w=5 and v=2 what is the cost minimizing (or efficient) combination of inputs to produce 6 units of output?
The price elasticity of demand for eggs has been estimated to be 0.1. If the price of eggs increases by 10% what will happen to the total revenue of eggs produc
Compute average fixed cost, average variable cost, and average total cost for each quantity. What is the efficient scale of the painting company.
find a transformation of the data to be able to use the same data to estimate a model that satisfies the Gauss-Markov assumptions. be clear and explicit about the process. clearly explain why the transformed model meets the Gauss-markov assumptio..
Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in the same graph draw the NEW demand or supply-showing your shifts) and how the quantity and ..
Cournot Duopoly). Suppose there are two firms, Firm 1 and Firm 2 in a market. Each firm simultaneously chooses a quantity of output to produce (q1 and q2). Total market output is given by Q = q1 + q2. What is the deadweight loss in this market?
what are long term and short term benefits for international trade? who profits mostly from imports/exports? what are the aspects of free trade?
The following is the number of first year students who selected the three mathematics units for trimester one;
Consider a Bertrand model, but where the firms have different costs. Specifically, suppose that firm 1 has a marginal cost of $0.90 per unit and firm 2 has a marginal cost of $1.00 per unit. Prices must be named in increments of $0.01.
Is there a balance that can be struck between developing and industrialized countries to balance out environmental economics?
Business Admin Capstone Discussion 1: Looking Ahead- Predict what major issues this program will be addressing 10 years from now. Explain your rationale.
The manufacturer of Brand A automobile tires claims that its tire can save 110 gallons of fuel over 55,000 miles of driving, as compared to a popular competitor (brand B). If gasoline costs $4.00 per gallon, how much per mile driven does this tire sa..
Suppose you run a coffee shop and you have to do some good work for farmers,
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