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1. Suppose a firm’s production function is given by Q = 2KL, where K is capital and L is labor. What is the marginal product of labor when 4 units of capital are employed?
2. The marginal product of labor in the production of computer chips is 50 chips per hour. The marginal product of capital is 100. The marginal rate of technical substitution of hours of labor for hours of machine capital is?
3. A widget company firm hires labor and rents machines to produce its output. The hourly wage rate is $10, and the rental rate of machines is $50. In equilibrium, the marginal product of labor is 300 units of output per period. The marginal product of machines is
4. A manufacturer of lasers reports that the marginal product of labor is 60 units of output per hour of labor and that the marginal rate of technical substitution of labor for capital is 3/2. The marginal product of capital is
Based on the collected data analyze the current macroeconomic situation and its impact on walmart and starbucks. Explore in particular illustrate how the two companies' respond to the macroeconomic conditions in terms of their:
Using diagrams for aggregate expenditures (AE) and aggregate demand and supply (AD-AS), show the short run effects each of the following scenarios has on the relevant economy. Be sure to identify the cause of any shift or movement along AE, AD, and/o..
What do you think will happen to the price and quantity of DVDplayers. What is the difference between economies of scale and economies of scope? Provide examples for each of them (one example for each of them will be sufficient)?
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms?
Elucidate how does the dissolution of the partnership leave Disney vulnerable. What could Disney have done to protect itself from these vulnerabilities in the original negotiations.
How is the effectiveness of team selling demonstrated by the Reynolds team, and what are some of the vantages to this method in this particular case?
Modeling what is a Market. In modern usage, a commodity is anything of use that is available for purchase and sale in standardized form. Participants: Who trades with whom
Paternalism describes a situation in which:
Presently, AFC has on its medical staff 10 doctors and 10 nurses. The daily wage of a doctor is $600, whereas a nurse is paid only $200 a day. Is the mix of doctors and nurses the clinic is presently using optimal? Explain.
What is the monthly interest rate? How much will Susan pay each month for 45 months? What effective interest rate is being charged?
Define three types of elasticity of demand. Indicate how you would use information from recent research paid by your company that the own price elasticity of your product is -1.2 and not -.08 as previously thought.
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