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Consider this short run production function Q=100L-L². Where Q is output level and L is labour input. The price of output is 50 and labour cost 1200 per hour. How many hours will the firm use to maximize profits? What is the profit maximizing level of output?
Find out how inflation has been affected after the European Union trade
Compare and contrast the conflicts faced by Orwell in "Shooting an Elephant" to those faced by Gideon in "No Witchcraft for Sale." To what unique revelation does Orwell's position as a police officer lead him? How can Gideon's ultimate decision not t..
Suppose, unfortunately, your mathematics and economics professor have decided to give tests 2 days from now and you can only spend a total of 12 hours studying for both exams. After some thought, you conclude that dividing your study time equally bet..
you are the manager of a California winery.then how would you expect the events to affect the market equilibrium price you receive for a bottle of wine.
What are the equilibrium price and quantity
Assuming the company will remain a "going concern" indefinitely and that the interest rate will remain constant at 10 percent, at what constant rate does the owner believe that profits will grow?
What should be the new wage level in the tourism industry? Examine the impacts of this buyer's tax on the equilibrium rental prices, consumer surplus, producer surplus, and total surplus (or social welfare).
Regulation imposes new costs on business, including direct, indirect, and induced costs. Which kind of additional cost is most significant to consider in the regulation process?
Taiwan and Jamaica are both islands that have pursued export-oriented development strategies, but Jamaica has experienced increases in unemployment and poverty, while Taiwan has experienced decreases. How might you explain this?
Monetary Transmission Mechanism: According to the Keynesian school, show what happens, step by step, when the Federal Reserve sells US treasury bills to US banks. What is the difference between the Keynesian view and Monetarist/Rational Expectations ..
Describe how high entry barriers into a market will influence long-run profitability of the firms - Explain the competitive pressures that are present in markets with high barriers to entry.
Some of the Tennessee Valley Authority’s electricity generating plants are powered by coal purchased via a separate TVA procurement division. Power plant managers often complain that the coal is below grade and causes problems with plant maintenance ..
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