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Wheat is produced according to the production function: q = 100K^0.5H^0.5 Where q = quantity of wheat produced; K = capital input; H = labour input (i) If the capital input of 16 units and a labour input of 25 units are used, show all your working in answering the following: (a) what is the marginal product of labour? (b) what is the marginal product of capital? (ii) If the cost of capital (r) is R200 per unit, the cost of labour (w) is R150 per unit, and the units of capital and labour are as in part (i) above, show all your working in answering the following: (a) what is the total cost of production? (b) what is the average cost of producing q units of wheat?
Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English.
You took a 30 year mortgage with monthly payments of $1200. The loan rate is 11% (APR) compounded monthly.
If the investor wants to receive 8% interest, compounded semiannually, how much would he or she be willing to pay for the bond?
You are thinking about buying a house. You find one you like that costs $200,000. You learn that your bank will give you a mortgage for $160,000 and that you would have to use all of your savings to make the down payment of $40,000. Is $950 the cost ..
Electron Control, Inc., a manufacturer of voltage regulators for industrial power generators, currently consolidates production at a single plant in Chattanooga, Tennessee, but a multiplant alternative to centralized production is being considered. F..
Suppose real GDP is growing 3 percent, the money supply is growing at 10 percent, the velocity of money is constant, and the real interest rate is 5 percent. What is the current inflation rate and nominal interest rate?
Given that you are a newly hired government agent and you are speaking to an audience of business people, using economics terms, concepts, and or methods
You only want to view specific fields from the Contact table. Write a SQL statements to do the following:
Using supply and demand and competitive analyses, explain what happens to a pharmaceutical company’s revenues and profits from an individual drug once it loses its patent protection. Then identify at least one strategy the company can use to mitigate..
What are the factors that affect price elasticity of demand and price elasticity of supply? What are some applications of each?
China now fixes the value of its currency, the yuan, to the U.S. dollar. Output growth in the U.S. is 3%, inflation is 1% and money supply growth is 4%. Output growth in China is 7%. What should money supply growth be in China if China wants to fix i..
what effect would this change have on the wages in the two markets you illustrated in part (a)? what effect would the change have on the average wages of men and women?
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