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(Cost minimization)
a) What are the expressions for the marginal product of every of the two inputs in producing credit hours?
b) What is the expression for the marginal rate of technological substitution of TA's hours for professor's hours? Interpret MRTS in words.
c) Assume that Profits needs to produce 2000 credit hours this quarter. What is the expression for the respective isoquant? Illustrate this isoquant.
d) What is the minimum cost combination of inputs needed to produce 2000 credit hours?
Niche Operators: It is assessed by TRAI that despite the USO support, existing big service providers would not be interested to serve about 50 per cent of the villages. To add
Reasons for International Trade?
Q=10-2P,PRICE DECREASE FROM RS 3 TO 2
given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total revenue function 2-calculate profit mazimization output for a-perfect competitive firm b-monopoly 3-explain whi
Determinants of Social Demand for Education - Equity Perfect equality is not observed in any society. Hierarchy in status, standards of living, capacities for effective demand
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. What would answer be
draw the supernormal curve
Marginal Product (MP) of a Factor: From the above mentioned production function, immediately we can study the effect on total output when there is a variation in labour utlili
If demand goes down what happens to the equilibrium?
Various studies have concluded that the demand for movie cinema attendance is responsive to advertising. A study of one company, with movie cinemas in three neighbouring towns, sh
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