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A firm's production function is X = 6LK. Name five input combinations that would allow the firm to produce 180 units of output. In each case, what is the firm's capital-labor ratio? If the wage rate is $15 per unit and the rental rate on capital is $25 per unit, what are the firm's costs for each of five input combinations?
The conventional (classical) labor market theory suggests that i) the wage rate adjusts smoothly so that labor supply equals labor demand; ii) wages are set competitively across markets; iii) there is no ‘involuntary’ unemployment (anyone who wishes ..
The economic theory of bureaucracy states that athletic directors: Relative to a perfectly-competitive labor market, a monopolized one: The marginal costs of effort tend to:
What condition must exist for a security's price to be considered at equilibrium? Does this actually happen?
Suppose the mpc in an economy is .85 the apc is .09 and disposable income if 5 billion. What is the new consumption level when disposable income increases to 12 billion?
Consider the 2014 Ebola outbreak in West Africa. In 2014 the Ebola virus outbreak in West Africa led to 11325 deaths. You are required to use both the models by Thomas Malthus to examine the impacts of the Ebola virus, that is the resulting impacts a..
Differentiation between market structures, competitive strategies and the positive or negative impact on the organization with industry specific analysis. Identification of the competitive strategies and the effectiveness of the same. Recommendations..
On August 15, 2014 Emma signed a contract to purchase 35,000 gallons of ethanol from Korey for resale at her ethanol station. When Emma signed the contract, the ethanol was warehoused in a holding tank at Korey's production facility. On August 24 lig..
Discuss the effects of HIV/AIDS on the economies of african countries. Making sure to discuss the sources of economic growth and the use of scarce resources.
This theory of consumer choice is a branch of microeconomics which relates to what is called to consumers demand curves and to expenditures of consumption.
During World War II there was a freeze on wages, and corporations found they could evade the freeze by providing other fringe benefits such as retirement funds and health insurance for their employees. The Internal Revenue Service went along with thi..
he or she rents 63 movies per year at the same price per movie. What is the implied income elasticity of demand for movies? Are movies a normal good or an inferior good?
A garbage disposal company purchased a refuse truck on Feb. 2, 2113, at a cost of $72,000' The truck has a useful life of 8 years with an estimated salvage vale of $17,000. The straight line method is used for book purposes. For tax purposes, the tru..
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