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Suppose that aggregate production function in a particular economy is given byY = (N/60)[5080 - N]where N is the size of the labor force.
Establish algebraically whether this production function exhibits increasing, decreasing, or constant returns to scale
The Solar Energy Company is producing electricity from a solar source by using a large array of solar cells and selling the power to the local utility company. Because these cells degrade over time, thereby resulting in lower conversion efficiency..
At the request of domestic producers, the Taiwanese government imposes a tariff of 500 per imported computer. Find Taiwanese consumption, production, and imports of computers after the imposition of the tariff. How much revenue does the tariff rai..
A discriminating monopolist faces the demand schedule Pmkt = 225 - Q and MC = 125 a) What is the market-clearing price for the discriminating monopolist b) How much will the monopolist produce c) What is the net profits of the monopolist
find out the MRTS of the following questions for a. q=L^0.5K^0.5, b. q=L^0.5+K^0.5, c. q= min {K,L} and d. q=L+K. I think for the first two I have the correct answers and just need to make sure I didn't do the math incorrectly.
Rob currently earns a salary of $1,000 per week as an economics instructor. His next best career would have been an assistant manager at Pizza Hut, where he would have earned $12 per hour, and would have worked for 40 hours per week.
Therefore each flight has the potential to carry 80 additional pounds of mail. You have been retained by Express to provide them with the lowest price per pound they could charge for each of the 80 pounds of unused capacity without reducing their ..
Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products in each store. What motivated the producers of those individual products to make them and offer them for sale
Suppose that every driver faces 1% probability of an automobile accident every year. An accident will, on average, cost each driver $10,000. Suppose there are two types of individuals: those with $60,000 in the bank and those with $5,000 in the ba..
From this information, derive Kaleem's demand schedule. Graph his demand curve for bottled water. If the price of a bottle of water is $4, how many bottles does Kaleem buy. How much consumer surplus does Kaleem get from his purchases.
Competitive Strategy. Bob Ice owns and operates Bob's Music Center, Ltd., a small firm that offers music lessons in Huntsville, Alabama. Given the large number of competitors and the lack of entry barriers
a. Plot the supply and demand curves b. Calculate the equilibrium price and equilibrium quantity. c. Suppose the government imposes a price ceiling of $30 in this market. Determine mathematically and graphically the loss of social welfare.
Touchie MacFeelie publishes comic books. The only inputs he needs are old jokes and cartoonists' labor. His production function is Q = 0.1 * J1/2L Where J is the number of old jokes used, L the number of hours of cartoonists' labor used as inp..
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