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A firm has a production function (products of the whole year) given by q = 500 (LK)^1/2 . Wage is $40000 per year and capital rental rate is $90000 per year. (Details and steps required) a. Find the best way to produce 6000 products in a year. What is the total cost to produce? b. Find the best way to produce 12000 products in a year. What is the total cost to produce? c. Draw the isoquant curves map and solution point. d. From parts a, b could you find the total cost function? Write down this function. e. Find AC, MC functions.
Calculate the percentage change in nominal GDP, real GDP and the GDP deflator in 2009 and 2010 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.
q1. illustrate what were the major contributing causes to failure of uplift unionism?q2. whenever you analyze your
q1. expectations and consumer confidence are important in determining fluctuations in aggregate spending. in your
for a child i living in a particular a school district let voucher be a dummy variable equal to one if a child is
wicksteed made a significant contribution to value theory during the marginal utility revolution. this contribution was
What lessons can we infer from history around the efforts to enact National Health Insurance and/or Health Reform? What are the economic rationales for different types of government intervention in health care?
Elucidate how much does the gardener receive. How much does the customer pay. How much does the government receive as tax revenue.
Not long ago an employee came into my office asking for a wage increase. I responded by asking what increase in productivity the employee brought to the University in order to merit such an increase.
Congresswoman Gaga represents a state in which several firms fabricate furniture. She needs to impose tariffs on all imported furniture.
Elucidate what would be the immediate and long run effects on c, k, and y. Explain by drawing the path of these variables. Consider that you impose the new saving rate.
part a instructionsread the followingbulldonaldson t. 1996 september. values in tension ethics away from home. harvard
Demand for good X has been estimated at Qxd = 12-3Px+4Py. Suppose that good X sells at $2 per unit and good Y sells at $1 per unit. Calculate the own price elasticity.
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