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Consider the following firm with the production function Q=F(L)=2L^1/2. L=labor. Wage w=12. Fixed costs are FC=500(sunk cost). Derive the short run cost function. Graph this function using excel.
Compute the resulting equilibrium price quantity combination for every industry. Illustrate your answer with a suitable graph.
how to compute implicit explcit and opportunity costs. jamal has a flexible job. he can work everyday but is allowed to take a day off anytime he wants.
Advise the firm on how to plan production in the coming month if average income is set to increase by 12%.
The traditional remedy for a nuisance is an injunction, and the non-traditional remedy is damages. Explain in a paragraph, circumstances in which the former is more efficient than the latter, and the circumstances in which the opposite is true.
Why would it be valuable for a business to know cross elasticity of demand for two products it produces: peanuts and popcorn.
Name at least one reason why an insurance company might set a deductible. Explain when can forcing everybody to buy full insurance at market rates help everybody?
Compute nominal GDP, real GDP also the GDP deflator for each year, using 20010 as the base year.
In today's environment, what specific imports affect the Mass Economy? Give several examples and explain why and the 20th Century, the beginnings of the use of electricity changed everything? How did it impact the Massachusetts Economy?
Do wages clear when the wage equals two. Do we know whether the equilibrium wage is higher or lower than two.
To build trust among virtual team members, managers should Deep-six the egos
Select an industry with which you are familiar and determine which of the trade regulations impacts that organization the most. Support your response with specific examples.
What element(s) would you give as the cause(s) of Colbert’s failure to achieve his master plan for France?
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