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Consider a firm with the production function Q = KL.
(a) Is this production function homogeneous? If yes, of what degree?
(b) If labor and capital cost $100 and $200 per unit, what is the equation of the output expansion path?
(c) If the firm wants to spend $8,000 on labor and capital, what is the maximum output it can produce? How many units of L and K does it employ?
1. describe each of the four properties of indifference curves.2. describe and explain the budge constraint. how
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000-200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard..
analysis of a proposed soda taxarticle from the wall street journal entitled soda tax weighed to pay for health
For Mitzi, shampoo and conditioner are perfect complements. She likes to use 1 squirt of shampoo and 1 squirt of conditioner each time she washes her hair. Draw a set of indifference curves for Mitzi that illustrate the utility she derives from using..
this question is concerned with the value of major league baseball mlb franchises. the data was obtained for all u.s.
If so, how would the differences affect the interest differential between, say, dollar and Mexican peso deposits? Do you have any guesses about how the liquidity of euro deposits may be changing over time?
1.If you take $100 out of your piggy bank and deposit it in your checking account, how did M1 change? Did M2 change? If the deposit will be loaned under 20 per cent reserve ratio, what is the change in M1 and M2 as a result of $100 into the banking s..
Calculate Hana's income elasticity of demand for rice. Show your calculation. Is rice income elastic or inelastic? Is rice normal good or inferior good?
Bill has $10 to spend on a Superman, Batman, or an X-Men T-shirt. Bill buys the Superman T-shirt and the Batman shirt was a close second choice. What is the opportunity cost?
The antitrust divisions of government are limited by the resources allocated to their activities. Given the likelihood of violations of antitrust laws, why do you suppose the resources actually available to these agencies tend to be very modest?
A hospital would replace five personnel that currently cover three shifts per day. 365 days per year. Each person earns $35,000 per year. Company-paid benefits and overhead are 45% of wages. Money costs 8% after income taxes.
research authoritative articles using the news and the devry online library for a recent case of antitrust
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