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The production function for Our Production is Q = 25L – 0.05L2 ; where Q is output and L man–hours. (i) What level of man–hours will maximize total output? (ii) Calculate the marginal product for the following levels of man–hours: 25, 50, 100, 150, 200, 250 and 300. Comment on the results.
Discuss whether each statement is an example of positive economics or normative economics or if it contains elements of both: an increase in the personal income tax will slow the growth rate of the economy.
Your friend's monthly demand for minutes of calling is given by the equation 50, where p is the price of a minute.
Using your understanding of the financial system, the demand for money, banking and the money provide, interest and spending, the stock market, interest and investment.
Elucidate how each of the following people would talk about scarcity and trade-offs. The President of the United States and the leader of a developing nation.
Which one may under present quality. Describe concepts of prospective also retrospective payment for services.
What is the monthly interest rate? How much will Susan pay each month for 45 months? What effective interest rate is being charged?
Illustrate what is the probability that a randomly selected hair dryer will be in working condition for more than 60 months.
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
Back in July 2009, Matt Kistler, a senior vice-president at Walmart, claimed the company was making progress on achieving three major goals: (1) to be supplied by 100% renewable energy; (2) to create zero-waste; and (3) to increase the sale of renewa..
If firm A expects firm B to set its price at $20, what is firm A's best response? If firm B predicts that firm A will price good A at $36, what is firm B's best response? What is the NASH EQUILIBRIUM price and quantity for each firm?
Illustrate what emissions fee should be imposed to achieve the cost-effective outcome. How much would each firm pay in taxes.
q. 1. describe michael porters five-force model and indicate why many observers regard his paradigm of industry
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