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1. A firm has a production process in which the inputs to production are perfectly substitutable in the long run. Can you tell whether the marginal rate of techni- cal substitution is high or low, or is further information necessary? Discuss.
2. The marginal product of labor in the production of computer chips is 50 chips per hour. The marginal rate of technical substitution of hours of labor for hours of machine capital is 1/4. What is the marginal product of capital?
Game Theory: Two friends who are students of an Econ class got hold of the answer key to the graded homework problems. Suppose that over the quarter, the Professor poses two graded homework assignments. Since these homework assignments are very diffi..
determine the market structure in which the low-calorie food company operates.use the internet to research two 2 of the
How many officers did Sir Robert Peel hire when authorized by the Metropolitan Police Act to create a police force and What year marks the beginning of organized, paid, civilian policing - Which category of activity accounted for the fewest police-ci..
If Jane gets one year of college she will earn $20 per hour. If Jane gets two years of college she will earn $22 per hour. If Jane gets three years of college, she will earn $24 per hour. If Jane finishes college, she will earn $25 per hour. Jane’s d..
What are the advantages and disadvantages of free trade From an economic point of view, is free trade better than limited or no trade? Have you benefited from free trade How How is the economy impacted by trade
you have an opportunity to invest in a new plant. the fixed costs are 100000 per year. the marginal cost of production
It is common knowledge that governments all over the world are involved in providing education for their citizens. To gauge the effectiveness of public education, federal government, states, and independent agencies measure achievement regularl..
john walters is comparing the cost of credit to the cash price of an item. if john makes a 60 down payment and pays 34
Gamma Corporation, one of the firms that retain you as a financial analyst, is considering buying out Beta Corporation, a small manufacturing firm that is now hardly operating at a profit. You recommend the buyout because you believe that new managem..
What role should government play in controlling increases in the cost of care and the cost of health coverage What different choices do state and federal policymakers have in containing costs
Explain with the use of diagrams where appropriate how perfect competition leads to allocative productive and dynamic efficiency - What is a natural monopoly? If a firm is a natural monopoly, illustrate with the use of diagrams why is it is nec..
pollution is considered baby most negative externality. some ecinomists would like to see the vista of these burdens
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