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Suppose you are the production manager for Widgets, Inc. Your job is to produce a fixed amount of output at the lowest cost possible. When you take over the position, you find that the price paid for a unit of labor is $20 (W = $20), and the price paid for a unit of capital is $50 (R = $50). You also discover that with the current mix of capital (K) and labor (L), the marginal product of labor is 10 (MPL = 10) and the marginal product of capital is 20 (MPK = 20). Is your company minimizing cost? If not, how could you change inputs to do so? Use a diagram to help explain your answer.
Q. Explain about Citrinin fungi? Penicillin citrinum, P.viridicatum and some other fungi produce this mycotoxin. It has been recovered from polished rice, moldy bread, country
By what percentage did the price level, as measured by this index, rise between 1984 and 2005?
Find the Equilibrium Quantity In a small town only two candy shops operate and they compete with each other in quantity. Consumers do not differentiate between candies sold by
Why might external economies of scale be of interest to developing countries?
Subsistence theory of wage determination
what are the advantages and disadvantages of a national income and green GDP? national income figures are often used to compare living standards across countries and through time.
Q. Illustrate diffrent types of money? In most countries, one may identify two 'types of money': Bank deposits Currency and coins The total value of all th
How is the global social progress being measured today? Name some indicators of development progress that you believe reasonably reflect actual progress. What roles do corporate ci
let Y denote the number of "heads" that occur when two coins tossed. a) Derive the probability distribution of Y b) Derive the cumulative probability distribution of Y c)
what is the importance of credit multiplier
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