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A firm with a CD production function Q = 2K 0.5 L0.4 plans to produce 500 units of output per day. Assume the price of labor and capital are
w = $50 and r = $100 a day.
(a) What is the firm's optimal combination of factors that minimizes its cost?
(b) What is the market price of this good if this firm makes a $2,500 profit each day?
What are the problems faced in determining the demand for a durable good? Illustrate with example of demand for households refrigerator or television set.
analyze how the law of demand applies to a recent purchase that you made. describe how the product has changed in price
suppose youre trying to sell a company a new accounting system that will reduce costs by 10. instead of asking for a
Imagine a world with two individuals, a rich one denoted by R, and a poor one denoted by P. Both individuals consume gas, and their demands are given by QR = 100 - 0.5P and QP = 60-P respectively, where P is the price of gas, and QR and QP are..
What is the golden rule of profit maximization? Explain why the rule maximizes profits. Why are economic profits zero all along a long-run supply curve in perfect competition?
3. Would expanding coverage of pharmaceuticals to all Canadians necessarily cost more than is currently spent? Describe one approach to expanding pharmaceutical coverage. 4. Describe the four components of home care policies.
Explain what happens to price and quantity of milk when the following events take place: For each and every event, specify how it effects either demand, quantity demanded, supply, or quantity demanded. It is also important to demonstrate how the ch..
Civil Procedure and Constitutional Law
many executives will save an organizations money by not having auto insurance on the fleet of company vehicles whereas
Formulate an integer programming model for problem - mixed integer linear programming model - Formulate the integer programming model for this problem and solve it using the computer.
a. state and explain the law of diminishing marginal utility and do the same for the law of diminishing returns.b.
Explain what strategies you used to formulate a viable argument - Explain how you plan to support your thesis statement with compelling arguments and counterarguments.
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