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Suppose, after collecting data on an existing firm's actual short-run ouput, the following production function is found to match the data:
TP = Q = 5*L + 0.6*L2 - 0.01*L3
1. Using the equation above, find the following equations and complete the table below (Round correctly to 0 decimals for TP and 2 decimals for APL and MPL)
a. APL =
b. MPL =
Describe how the product has changed in price and explain whether the price change is due to supply or demand. Did the change in price affect your decision to purchase the item?
The environment and healthcare are very important aspects of our lives, as discussed in your textbook. However, it is still unclear whether corporations should focus on these as rights or as privileges.
To assess the impact of those mergers,on industry on consumers and on society as a whole.
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How do you create work breakdown structure (WBS) for large projects and what tools can you use to create WBS? Please provide details
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Suppose Katie, Kendra, and Kristen each purchase a particular type of cell phone at a price of $80. Kate's willingness to pay was $100, Kendra's willingness to pay was $95, and Kristen's willingness to pay was $80. For the three individuals together,..
Consider a market with an incumbent (I) and a potential entrant (E). The incumbent has innite capacity. Market demand is D(p) = 100 - p. Firms set prices and if the two firms have equal prices then I gets the entire demand. The firms play the followi..
Illustrate what price also quantity would prevail after the imposition of the tax
MGMT 650 Fall 2016 Problem Set 2 - Compute probabilities - The probability of rolling the number 6 using one die - what is the probability that it is a nonconforming bottle?
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