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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?
where LS is the quantity of low-skilled labor (in millions of persons employed each year), and w is the wage rate (in dollars per hour). The demand for labor is given by
Milk becomes more popular amd better feed increases milk production. how do these events influence demand and supply describe how the equilibrium price and equilibrium quanity changes.
The Wall Street Journal’s experience after it increased its price to 75 cents. what implicit assumptions are the publisher and the analyst making about price elasticity.
College education provides higher income for the individual, but also a more productive and more educated person who will contribute to society in many ways. Carbon dioxide emissions are thought to contribute to global warming, and there is concer..
Individual investors lost millions and the NASDAQ (the stock exchange for most Internet companies) came tumbling down. What happened? Why did it happen? What could have been done to stop this unsafe surge in valuation?
If some auction participants for crude oil field leases have estimates that the oil in the ground is worth $1.2 million, $1.3 million, or $1.5 million with certainty; and other auction participants have estimates that the same oil f..
Huntington advice that the emerging global economy will rising be faced with violent clashes between civilizations. Describe what Huntington means by the term civilization and explain why such clashes may be expected.
question 1 what are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the
cool-aire corporation manufactures a line of room air conditioners. its break-even sales level is 33000 units. sales
if the price of breakfast cereal falls from 6 to 3 and this leads to an increase in demand for milk from 30 to 40
Analyze the process of forecasting foreign-exchange rates and create a short list of best practices. Explain your rationale for selecting the practices you did.
helping to create something that never existed before and join the second gold rush are two key quotes from the
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