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Assume that a firm employs labor and capital by paying $40 per unit of labor employed and $200 per hour to rent a unit of capital. Given that the production function is given by: Q= 10L - L^2 +60K -1.5K^2, where Q is total output, L is labor an K is capital , What is the firm's optimal combination of capital and labor?
Describe the equilibrium price and sales of X. Let PY = $10. Determine whether X and Y are substitutes or complements.
The costs of expected inflation cause productive resources of an economy to be directed away from their efficient allocation. Explain how each of the following costs of expected inflation distrot the allocation of productive resources:
Illustrate what was the cost of recalls per year before the software was purchased if the company did exactlyy recover its investment in 4 years from the 10% reduction.
Explain when a researcher is trying to estimate the causal effect of X on Y, and finds that the R^2 of her bivariate regression model is around 0.04.
How could a company go about meeting those needs and thus motivate you to work better and harder.
Illustrate what is Gillette's advertising elasticity. Is Gillette's Demand more or less responsive to advertising than other firms in its peer group. Elucidate also Elucidate how all calculations.
Calculate the arc cross-price elasticity of demand for JJT's deluxe garment bag. B. JJT's deluxe garment bag sales recovered from 4,800 units to 6,000 units following a price reduction to $130 per unit.
Describe at least four characteristics of a good business.Identify and talk about at least four companies that you regard as having the characteristics.
what will happen to the value of the dollar? Use the demand-supply model of the dollar to explain. sales of luxury cars will decrease.
Briefly explain why the three variables are appropriate explanatory variables to predict the consumption of services or why they are related to consumption.
Demonstrate how growth accounting could be utilized to learn the value of g. Analyze the effects of an unanticipated permanent reduction in g on the real income rate also the real interest rate.
What are the corresponding retail and wholesale prices? What would happen if the sales are switched from the retail to the wholesale and vice versa?
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