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The following are different types of production function. Determine whether each one has constant, increasing or decreasing returns to scale.
a. Q=20L+20K+50
b. Q=30L²+25K²
C. Q=40L+20K+10LK
d. Q=25L0.4K0.8
e. Q=20L0.3K0.6M0.2
Under what conditions might the Justice Department approve a merger between two companies that operate in an industry with a premerger Herfindahl-Hirschman index of 2,900 if the postmerger index is expected to increase by 225.
Compare and contrast the merits of GNI, Net National Product, and Your Better Life Index as indicators of economic performance in Brazil, Russia, China, and India.
How does this alter the isocost and isoquant graph? d.Given these forecasts, where should you expand production?
Joe subscribes to an Internet provider that charges $2 per hour. He has $100 per month to spend and is at equilibrium by buying 10 hours of Internet access and $80 worth of other goods. Draw the indifference curve and budget line. If the company swit..
Which of the following would occur if the federal government decided to use a budget surplus to reduce the existing debt.
The loss to consumers can be decomposed into three pieces: a transfer to domestic producers, a transfer to the government, and a deadweight loss. Use your diagram to identify these three pieces.
Which of the following equals the market value of all final goods and services produced in an economy, stated in the prices of a specific base year?
Show what would in the market for unskilled labor if Congress were to raise the federal minimum wage to $9.00 per hour. The value of the Syrian pound has dropped
q1. y fk l a k0.4l1.0a calculate the marginal product of labor mplb does this production function exhibit diminishing
If the above monopolist were to behave like a perfectly competitive firm (operating in the long run), determine its output. Illustrate what is the firm's Total Revenue.
q1. suppose a health expenditure function is specified in the following manner e 500 0.2y where e represents annual
If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will
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