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A firm has the production function Q=L times K. For this production function, MPL=K and MPK=L. The firm initially faces input prices w= $1 and r= $1 and is required to produce Q bar= 100 units. Later the price of labor, w, goes up to $4. Find the optimal input combinations for each set of prices and use these to calculate the rm's price elasticity of demand for labor over this range of prices.
Assume that you work for a large national company with several stores in each state. Which regression method should be applied to using "big data" that the company generates to answer questions about store revenue performance over time and to generat..
q.assume the working income tax benefit tops up a single individuals income by 25 percent of the amount that employment
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Illustrate what is the level of consumption at the equilibrium level of income.
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Illustrate what does this outcome reveal about the size of the multiplier
Competitive firms will always try to earn more than a normal profit by doing the following, except
If the government imposes a limit on sales of a good or service by issuing a license that gives the owner the right to sell a given quantity of the good, the difference between the demand and supply price
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q.suppose that a person regards ham and cheese as pure complements- he or she will always use a slice of ham in
Using a supply- and- demand graph and assuming competitive markets, show and explain the effect on equilibrium price and quantity of the following:
Due to the global economic slowdown, we were benefiting from relatively low oil prices.
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