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A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers. Engineering estimates suggest that at those levels, the marginal product of capital will be 100 and the marginal product of labor will be 75. If the wage rate is $5 and the rental rate on capital is $10, is the firm making the right decision? Support your answer.
providing the highest-quality products and the highest level of customer service are two of the core values of michaels
the maker of a leading brand of low-calorie microwavable food estimates the following demand equation for its product
what is an html text editor? what is it used for and how does it compare to a regular text editor? why are text files
You work at a Gazebo company (Shady Tents) and you hire an economist to estimate the price elasticity of demand for your product, and the estimate is .9 (in absolute value) and this has been fairly stable over the last year. Are you profit maximizing..
like supermarkets, full service department stores like macy's are generally in decline. what factors might these types of stores have in common behind their declines how would you determine which were important and which were not
1. suppose there exist two identical forest plots except one will be harvested and left while the second will be
Consider the market for ipods. The government decides to impose a price ceiling on ipods. You are told that this is an effective price ceiling. Describe what would make this an effective price ceiling.
What are the three tools the Federal Reserve uses to change the money supply and insert rates in the economy? Which of these tools is most important and why?
Discuss the prospects for demand for the kind of automobiles manufactured by Hyundai in two countries: China and Turkey.
A full-blown demand equation for pizza.
What distinguishes Buddhist economics from modern economics in its approach to material wealth? To natural resources? With which approach are you more sympathetic and why?
The point M on the accompanying production possibilities curve depicts the mix of output that is determined by the free market. In your opinion as an economist, where is the socially optimal mix of output Mark this on the PPC as point S
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