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Assume that a firm has the following short-run production function: q = 10L^0.5 and that the market wage rate is 4.
a. Derive the equations for marginal and average product of labor.
b. Derive the equations for the firm’s short-run marginal and average variable cost curves.
c. What is the equation for the firm’s short-run supply curve?
Suppose that you own a 25 year old movie theater in Micropolis. It has 6 screens and a concession stand. Across town there is a 7 year old movie theater with 4 IMAX screens and 20 more regular screens. Define price discrimination. Describe a price di..
The community of Upper Snowshoe has expanded its winter tourism very rapidly. Three years ago, it built a new 16,000 kW power plant for $4,500,000. The local construction cost index was 157 at that time and has risen to 170 now. What is the estimated..
After your review of the United States Constitution, and in consideration of the controversy amongst Republican party Presidential nominees regarding the citizenship status of Senator Ted Cruz of Texas, is he indeed eligible to run for President of t..
The structural engineering design section within the engineering department of a regional electrical utility corporation has developed several standard designs for a group of similar transmission line towers. The detailed design for each tower is bas..
Country Z is a developing country that is facing problems of deforestation.
q.rafidah was earning 100000 a year working as a scientist for a drug company. she decided to start her own business
Do Financial Institutions Need to Consider Foreign Exchange Market Conditions When Making Domestic Security Market Decisions? Point No. If there is no exchange of currencies, there is no need to monitor the foreign exchange market. Counter-Point Yes...
In a market with free entry and exit, who bears the burden of a tax? Given this fact, how might tax incidence differ in the short and long run? [HINT: Recall how the market supply curve looks like when there is free entry and exit]
Suppose you are buying a car. You go to one dealer who works a deal in which you would pay $3,740 each year for three (3) for the car. Another deal gives you a deal in which you would pay $2,870 each year for the four (4) years. Which is the better d..
Summarize the article "Trading liberty for illusions" by Wendy Kaminer in 300 words by following these steps: - the central idea of the passage - what, who, why, where, when and how - the author's conclusion - the subject of the description and it's ..
Using the same product example above, analyzing how the risk tolerance factors play in supplying the good or service and how this should influence management’s decisions.
For the range of prices that you are planning to charge, own price elasticity of demand is believed to be -1.5. Calculate the optimal (profit maximizing) price that you should charge. Show all calculations.
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