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Suppose that Noah and Naomi’s weekly production function is F (L, K) = 10L + K, where L is the number of assembly workers (labor) and K is garage space (capital).
(a) Derive a formula for their isoquant for producing 10 garden benches per week.
(b) Graph the isoquant for producing 10 garden benches per week, and label three input combinations on the isoquant.
(c) What is the general formula for their family of isoquants?
List a few major challenges YOU THINK would impact the future economic well being of the United States. Explain why these are crucial challenges and how they can be overcome. Your response MUST make references to short term fluctuations as well as lo..
Intel is a monopolist manufacturing computer chips with a competitive fringe of firms that act as price takers of the price Intel sets. The market willingness to pay for the P80 chip is given by p = 400 - Q, with p in dollars per chip and Q in thousa..
Assume that after the exchange of one permit, the marginal cost of abatement is for the firm that sold the permit for $170 also the marginal cost of the firm
Clarifying resource demand as well as differs from those determinant product demand.
The well known nationally syndicated columnist David Broder reported the recent findings of two academic political scientists. These scholars found that voters are quite turned off by “negative campaigns” of politicians. Many people went as far as no..
Suppose that demand for a product is given by Q=1000-P. Supply of the product is given by Q=2P. There is a positive consumption externality from this product, in the amount of $5 per unit. What quantity of the good is consumed under the private marke..
The companys marketplace department estimated a linear demand function for Border's picante sauce:
The Heckscher-Ohlin model is about how factor abundance/scarcity affects trade. Consider factors such as capital, skilled labor and unskilled labor. It is usually held that developed countries are relatively abundant in capital and skilled labor, and..
Does this critical path make sense. Do your predecessors make sense. How accurate are your durations? What could be done to improve accuracy of your durations.
What is the importance of the political ideology as a key determinant of government policy toward Foreign Direct Investment (FDI)?
You and a friend have each spent $8 on a non refundable movie ticket. Ten minutes into the movie, you both decide that the movie is horrible. Your friend says that you should stay and watch the rest of the movie because you “should get your money's w..
Are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position. Provide at least one example of a case where having a monopoly or oli..
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