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A firm production function is given by q = f(k,l) = k·l. q0 = 100. w = $20, v = $5. At the point at which this firm minimizes the cost of producing q0, it uses how many unit(s) of labor and how many unit(s) of capital? NOTE: write your answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Show all steps.
The marginal cost of a college education is given by the equation MC = ½ Qs + 2, where Qs represents the national student enrolment in millions each year. The demand for a college education is given by the inverse demand function P = -½ Qd + 18. In a..
What role does economics play in the political realm? Why do we care what type of market China and Russia have? Can any of you provide an example of how this influences your daily life?
Questions for the Anna Hakansson case study: What is your opinion of the manner in which Anna Håkansson prepared for her business trip? Could she have done a better job here? If so, how? What can Håkansson do to minimize the creation of stereotypes a..
the simple interest for buying a passenger transit rail is shown as the product of the principle amount p time in years
You are a strong advocate for a one-year investment project that would cost your firm $10,000 today, but generate virtually certain earnings of $20,000 at year-end. Those in your firm's financial group concur that the investment is virtually risk-fre..
In a price-fixing agreement amongst two oligopolists, each seller's best strategy would be to maintain the agreement, as it would leave both of them better off. The smaller the share of the fringe firms in an oligopoly market, the smaller will be the..
What is a difference between fiat and commodity money?
Trade restrictions usually benefit domestic producers because they increase the domestic price of the good. Trade restrictions usually benefit domestic consumers because they increase the variety of goods available. The benefits of trade restrictions..
q. suppose if the spot rate for won is 800 won equals 1 us also yearly interest rate on fixed rate 1 year deposits of
What is the economic rationale behind Airline mergers? Bring both supply side (costs) and demand side (revenue) considerations into your answer. Simple diagrams would be beneficial.
Within which sections of the production function is marginal product increasing. Explicate the link between scarcity, choice and opportunity cost
The Duckett Group is trying to determine its optimal average cash balance. The firm has determined that it will need $8,100,000 net new cash during the coming year. According to the Baumol model, what should be Duckett’s average cash balance?
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