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Assume that total fixed costs are $46, that the average product of labor is 5 units when 10 units of output are produced, and that the wage rate is $12. If labor is the only variable input, what is the average total cost of producing 10 units of output?
Suppose that all of the numbered diamonds and spades from a deck of cards (excluding Ace, King, Queen, and Jack) are used to set up a market. The diamonds determine demands, e
The annual opperating cost of the new operating machine is $7,000. The company uses a 20% MARR. Calculate the annual equivalent total cost for each machine. Would you replac
Based on information provided in my scenario, Illustrate what is value of marginal product. How many employees should you hire. Illustrate what wage should you set for your wi
If the market premium is 11.56 percent, the risk-free rate is 4.06 percent, the inflation rate is 1.46 percent, and Middlefield Motors common stock has a beta of 0.52, then wh
The main challenges facing the health system now; the factors that determine the production and distribution of health services; government policies for the health sector; the
Some economists believe that business owners who emphasize profit maximization will hire the most productive workers regardless of the personal characteristics of the worker;
Jamal has a utility function U=(w^1/2) , where W is his wealth in millions of dollars and U is the utility he obtains from that wealth. In the final stage of a game show, the
Explain how each of the following developments would affect the supply of money, the demand for money, and the interest rate. For each case, show what happens in a closed econ
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