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The production function Q = KL + M has marginal products MPK = L, MPL = K, and MPM = 1. The input prices of K, L, and M are 4, 16, and 1, respectively. The firm is operating in the short run, with K fixed at 20 units. What is the short-run total cost of producing 400 units of output?
Analyze the message delivered by each of your visual media items. Foreachitem, respond to the following questions in complete sentences. Cite evidence from the resource and the lesson to justify your responses.
Paul consumes two goods: potatoes and leisure, N. the number of potatoes Paul consumes does not vary, but their tastiness, T, does. For each extra unit of tastiness, he must spend Pt hours in the kitchen. Thus, Paul's time constraint is N+PtT=24. ..
a. State the per worker production function b. Given that (A = 4) the savings rate is 0.3, the population grows at 0.01 and the depreciation rate is 0.05. Calculate the steady state capital stock per worker and investment per worker.
Estimate the OLS regression for pounds (y) vs. candy (x) - perform the Breusch-Pagan test for heteroskedasticity
What are the average lifetime search costs for an individual who uses money to make exchanges?
What is CEO Toback's most pressing concern and how could he go about addressing this concern?2. Do you agree or disagree with the assessment of the concern and the plan to address this concern? Why or why not?
Suppose that the demand for Federal funds curve is such that the quantity of funds demanded changes by $160billion for each 1 percent change in the Federal funds interest rate. Also, assume that the current Federal funds rate is at the 3 percent r..
According to the life-cycle hypothesis, what would be the effect of the social security system on your average propensity to consume out of (disposable) income? Is the credibility of the social security system an issue here?
the production function: Q=5KL the assembly machines, K, costs $10,000 a week, while labor teams, L, cost $5000 per week. your plant has 4 assembly machines In the short run, ____ labor teams are required to produce 360 widgets.
The Lone Pine Gold Company (LPG Co.) purchased its corporate headquarters office building for $390,000 in Lone Pine, California on May 18, 2002. After some remodeling and refurbishing that cost $56,000, the company placed this building in service ..
Suppose that the price of hamburgers is $1 per hamburger and the price of steak is $8 per steak. Moreover, suppose that Corey can spend $100 per month on these two foods. Sketch Corey's budget line for hamburgers and steak given this budget.
An engineer deposits $300 per month into a savings account thatpays interest at a rate of 6% per year, compounded semiannually. How much will be in theaccount at the end of 15 years
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