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A medical clinic is being ran. Q=KL is the production function. Q is the number of patients treated. K & L are inputs. K = number of nurses, L = number of doctors. Price of K = 1 and the price of L = 5
one doctor is employed, how many nurses are being employed if the production plan is optimal? [What proportions of doctors to nurses if it's optimal]
How many patients are treated [Q] ?
What are the total and average costs?
An engineer starts to make quarterly deposits of $1,500 (at the end of a quarter) into an investment account at age of 45. If he wants to have $250,000 when he retires at age of 65, what must be the nominal and effective interest rates per year
ABC groundworks maintains shopping mall parking lots under a long-term 10 year contract. ABC is charging a flat-rate of $20,000 for year 1 and then it increases by $ 1,000 per year through year 10. Determine the future worth at EOY 10 of the servic..
Suppose that households are concerned about the future and cut back on their marginal propensity to consume from 0.80 to 0.667. Try this experiment for the Money Supply Target case and the Interest Target Case.
Suppose you are considering adding another sales associate to the floor. Your current total sales are $40,000 per day and your cost of sales, including the sales associates are $66,000 per day. The new sales associate should increase sales
Using a combined interest rate per interest period (d) for computing present worth values (PW). What is the present worth of the $1,000,000.00. if the formula for d is d = i + f + (i × f) and the inflation rate (f)=2.3%
suppose that, during the past year, the price of a laptop computer rose from $2,300 to $2,700 per laptop. During the same time period, consumer sales decreased from 600,000 to 500,000 laptops. Calculate the elasticity of demand between these two p..
according to solows model of economics, what determines the rate at which a nations income per person grows based on that model, what sort of public poicies would be able to increase the growth rate in income per person
In a local market, the monthly price of internet access service decreases from $30 to $20, and the total quantity of monthly accounts across all internet access providers increases from 90,000 to 190,000.
consider the following production function: q= 8lk+ 4l^2-(1/3)^3, Given the following expression for the marginal productivity of each input: MPl= 8K+8L -L^2 and MPk -8L Assuming capital is plotting in vertical axis and labor is plotting in horizont..
Joe's Barber Shop has a daily total cost function of TC = 100+ 4Q + Q2 and the daily demand for his services is Q = 50 - 2P What is the profit maximizing price that Joe should charge for his services
When the price of oranges increases from $1.00 per pound to $1.50 per pound, quantity demanded falls from 500 pounds to 400 pounds. Calculate the price elasticity of demand. Is the demand for oranges price elastic, inelastic, or unit elastic.
Jennifer contemplates installing certain new machines that will reduce the labor time required on certain operations. These will increase the connected load by 10hp, but since they will operate only on certain special jobs, will add only 100 kWh p..
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