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Suppose that you are in the short-run and the production function for your firm is given as: F(L,K)=K1/2L1/2 Also, in the short-run capital is fixed at K=16. You also know that the wage rate for workers is w=10, the price of capital r=20 and that the price for the product is P=100. How many units of Labor should this firm hire in order to maximize profits/minimize costs in the short-run?
How many units of output does the firm produce in the short-run?
How much profit does this firm earn in the short-run?
identify and discuss two ways in which cross-functional teams could be useful in developing new products or completing
competitive advantage implies the creation of a system that has a unique advantage over competitors. with the advent of
With quantity (Q) measured in oranges per day and price
discuss the basic concepts of simple systems.identify 3 examples of simple systems. identify 3 examples of simple
1. a reason for diseconomies of scale isa gains from specializationb costs of information and communicationc
In the past decade, the United States has been running extraordinary large foreign trade deficits. This is possible by the. The purchasing power parity theory (PPP) of the exchange rate implies that the real exchange rate between two countries
Antitrust authorities at the Federal Trade Commission are reviewing your company's recent merger with a rival firm. The FTC is concerned that the merger of the two rival firms in the same market will increase market power.
We're looking at the market for cat food. When the price is $10, the quantity sold is 1000 bags. When the price drops 10%, the quantity sold increases 30%.
1. when the government increases taxes to provide traditional public goods such national security there tends to bea.
a. Given the following chart and information fill in the missing values. Please write on a separate sheet. Note that r = $50 and w = $100. Use a price of $5.50.
A painting operation is performed by a production worker at a labor cost of $1.40 per unit. A robot spray-painting machine, costing $15000 would reduce the labor cost to $0.20 per unit. If the device would be valueless at the end of three years, what..
We draw any general conclusions about the relationship between market concentration on the one hand and price, profit, or total welfare on the other?
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