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Suppose the hourly wage is $10 and the price of each unit of capital is $25. The price of output is constant at $50 per unit. The production function is f(E,K)=E^1/2 K^1/4. How much labor and capital should the firm employ in the long run? How much profit will the firm earn?
define externalities in consumption and production of goods and services. why do they occur? what are examples of
Calculate the arc price elasticity implied by the initial response to Z-Best's price increase and calculate the effective price reduction resulting from the coupon promotion.
1. the demand prices for monthly math and science tutoring services are given belowtype of
you compete with many firms offering similar products monopolistic competition. an economic consulting firm has
u.s. interest rates rise compared to the rest of the world. draw what happens in the exchange rate market. what happens
Some states are required to balance their budgets. Is this measure stabilizing or destabilizing Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession. What effects would this philosophy have on th..
the family doctor magazine is published monthly in ho chi minh cityvietnam aimed at providing health nutrition fitness
A monopolist faces the demand curve Q = 60-P/2. The cost function is C=Q2. Find the output that maximises this monopolist’s profits. What are the prices at profits and that output? Find the elasticity of demand at the profit maximising output.
Scarcity underlies the need for an economic system of any type. What is scarcity? Is it possible to ever eliminate scarcity? In what two ways could an economy try to eliminate scarcity? Will these attempts ever be successful?
one of the most important skills to learn in managerial economics is the ability to identify a good business.1- discuss
Write down some similarities and differences between monopolies and oligopolies. How would you classify Microsoft? How would you classify the power industry in your area?
assume that the drug company can negotiate with the us and foreign governments and thus tries to implement the two-tier
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