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The Cobb-Douglas production function is given by: Y = AK^(α)L^(1−α) where 0 < α < 1.
Does the Cobb-Douglas production function display “constant returns to scale?” (Doubling both inputs doubles outputs).
In about 500 words, From a geographical standpoint, why is SPACE so integral to the survival of Capitalism as an economic system?
Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average of 3% per year. It is important to have the right mix of policies and that al..
The supply and demand for wheat are given by QS= 20 + 100p QD = 4000 - 100p +10Y Where Y is the average consumer income. Solve for the equilibrium price and quantity as functions of the consumer income.
Assume that the demand for ethanol, a corn-based alternative fuel, decreases. As a result, ethanol producers petition the Environmental Protection Agency (EPA) to raise the allowable amount of ethanol in gasoline blends from 10 percent to 15 percent...
what single payment at the end of year 5 is equivalent to an equal annual series of payments of $800 beginning at the end of year 3 and ending at the end of year 12? The interest rate is 8% compounded annually
A no–load mutual fund had NAV per share of $23.00 on January 1. On December 31 of the same year the fund's NAV was $25.32. Income distributions were $0.85 and the fund had capital gain distributions of $1.65. Without considering taxes and transaction..
The labor demand curve in a perfectly competitive factor market is the horizontal sum of all firms' _____ product of labor curves.
There are 20,000 hours of labor for country A. 5 hours of labor are required to produce 1 unit of S, while 4 hours are required to produce 1 unit of T. Find the shape and dimensions of country A's PPF.
The domestic demand and supply for sugar are Qd=40,000-200P, and Qsd=10,000+300P. The foreign supply is Qsf=20,000+100P. What is the total supply of sugar in the domestic market?
However, the university administration will charge the college $10,000 per student for the first 100 students enrolled each year for administrative costs and its share of the tuition payments.
From 1983 to 1987, a period of rapid economic growth in the U.S., total savings by contributors to IRAs increased by approximately the amount of their IRA contributions. Does this show that virtually all of their IRA savings were new savings money th..
One family of social dilemmas arises where a group of people are involved in some task that depends on the efforts of each of them. The strategy choices are work or shirk. In an effort dilemma, one persons shrinking places the burden of increased eff..
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