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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.
construct the supply and demand curves for rental housing, indicating equilibrium rent and quantity. Show the effects on this market( i.e., on supply, demand, equilibrium rent and
If a social entrepreneur is relying on contributions, are there not risks in being accountable and using that money wisely?
The total cost C of producing x units of some commodity is a linear function. Records show that on one occasion, 100 units were made at a total cost of $200, and on another occasio
what are the types of exchange rate
A textile mill releases pollution into nearby wetlands, and the associated health and ecological damages are not considered in the private market. Suppose you observe the following
1. To assess your ability to conduct quantitative data analysis and interpret the results of data analysis introduced inForecasting Trend. 2. To assess your ability to communicate
list of all theories of business cycle theories
In a Poisson distribution U=4. A) What is the probability that X=2? B) What is the probability that X is 2?
A company is considering investing in power generation. It wants to setup a 1000 MW power generation system. The company hired you as a consultant to explore different options for
Singer suggests that although the right to sell blood does not threaten the formal right to give blood, it is incompatible with "the right to give blood, which cannot be bought, wh
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