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Suppose the production function of a firm is = ( , ) = 2 + .
Suppose = 5$ = 10$. Also suppose that in the SR, capital is fixed at 5 units.
a. What is the SR cost function?
b. What is the SR marginal cost?
c. What is the LR cost function?
d. What is the LR marginal cost?
A firm sells its product in a perfectly competitive market where or firms charge a price of $80 per unit. Illustrate what price should firm charge in short run.
If you set the inverse demand function equal to the inverse supply function you can solve for the equilibrium quantity. (Qd=Qs).
What is the present value of costs under option A? Under option B? Which is the better option? (b)* Given that she is going to stay in business for another seven years, should she be considering other options??
1) Which of the following is an example of a positive externality?
There are two ways for money to be initially deposited into the banking system.
If you select three customers without replacement for a commercial, what is the probability they will all say they are happy with the service?
Using demand–supply diagrams in the labour market show what it means that the market “clears”. Label the axes carefully.
A firm has a production function given by q=2 sqrt(KL) In the short run, the firm’s amount of capital equipment is fixed at K=100. The rental rate for K is v=$1, and the wage rate for L is w=$4. Find the firm’s short-run total cost function (STC). Ca..
(GAME THEORY) Consider two colonels A and B ruling two opposing armies. Each colonel has 120 soldiers in their armies and there are 6 battlefields. Suppose colonel A and B distributes their armies as follows; A : 20 20 20 20 20 20 B : 21 21 21 21 20 ..
A Material Requirements Planning (MRP) is most valuable in industries where a number of products are made in batches using the same productive equipment and with companies involving
Illustrate car production is capital intense relative to textiles. The US is capital abundant and China is labor abundant. Under trade, both countries produce both goods. If the labor endowment were to increase in the US, this would.
Which one of the following would increase per-unit production cost and therefore shift the aggregate supply curve to the left?
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