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a) The production function of certain firm is given as
Q = 40 K1/2 L 3/4
A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maximize output subject to it spending Kshs 5000. Determine the number of units of capital and labour it should hire.
a) Supposing the firm in (a) is set to produce 400 units of the product, determine the number of K and L that the firm should hire so as to achieve this objective.
Problem : (a) Using examples of Least Developed Countries, explain the: (i) causes of market failures; and (ii) consequences of market failures (b) Describe the common
#questASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100
Frictional and Cyclical Unemployment: Frictional Unemployment: It refers to unemployment caused by changes in individual labour markets. This is the type of unemploymen
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Discuss about Modern economic growth Modern economic growth is also a shift in the kinds of things we do at work and play and in the way we live. Back in immediate aftermath of
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illustrate and discuss the implications of various markets structures(competitive and non-competitive) for price dertimation
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An important aspect of municipal finance involves capital budgeting and resource allocation. In some cases, resource allocations involve expenditures that are not directly revenue
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