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A firm has production function f(K; L) = squarerootKL. In the short run, the rm has capital K = 400; this cannot be changed in the near future. The cost of a unit of capital is $20, while the cost of a unit of labor is $30.a. In the short-run, where capital is xed at K = 400, how much labor does the rm need to employ in order to produce q = 300 output? What is the cost of producing 300 output?b. Repeat part a for q = 400, q = 500 and q = 600.c. What is the cost of producing q output in the short-run?d. What is the marginal cost of producing a 301s unit? A 401st unit? If you are comfortable doing so, you may answer this question by writing down the marginal cost function directly, rather than recalculating total cost for q = 301 and q = 401.e. Given your answer to part c, draw a graph with the rm's average total cost, average variable cost, and marginal cost (hint: MC = Q(3/20) )
Suppose it is known that 45% of the population are Coalition voters, 45% are ALP voters, and 10% vote for Greens.
For the consumer price index (CPI) values shown, calculate the rate of inflation in each year from 1930 to 1933. Year: 1929 1930 1931 1932 1933 CPI: 51.3 50.0 45.6 40.9 38.8
"Financial crises, such as the recent ‘sub-prime' credit crisis, have significant disruptive effects on the flow of funds in the financial system". With the aid of examples, show how the Reserve Bank of Australia has dealt with the 2008 Global Fin..
The agency of Labor Statistics follows 5-steps to calculate Consumer Price Index. Determine three strengths and three weaknesses of the Consumer Price Index calculation.
What is meant by the term, path dependency and discuss how path dependency has effected the development of two major Australian economic institutions.
Suppose that Saudi Arabia lets other members of OPEC sell all the oil they want at the existing price which the Saudis set and other members accept. The daily world demand for OPEC oil is given by:P = 88 2Q
ASB2505-3505 - Comparative Banking Review the theoretical relationships between market structure and bank performance and explain what is meant by market power and how it affects bank performance.
Derive the intertemporal Euler equation and what is the optimal level of C1 given the endowments, R, and ? What?s theoptimal level of C2?
Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? (Instructions: Round your answer to two decimal places.) The growth rate of the economy's real GDP per capita = %
Multicollinearity refers to existence of correlation among the independent variables in a multiple regression model. Explain how multicollinearity can impact your regression analysis.
In a population Y=100 and Y=43. Use the central limit theorem to answer the following questions a. In a random sample of size n=100, find P(Y or = 98).
This answer give vital hints on why the Federal Reserve establish general and specific rates of interest. This explains the recent tools the Federal Reserve has used to influence the United States economy.
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