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The cost of a person-hour of labour is w and the cost of a machine-hour of capital is r. The firm's longrun total cost equation is TC(Q) =w 1/2 r 4/5 . Given this information, which change would cause the greater upward rotation in the long-run total cost curve: a 10 percent increase in w or a 10 percent increase in r? Based on your answer, is the firm's production operation more capital intensive or labour intensive? Explain.
Suppose that the resident of vegopia spend all of their income on cauliflower,broccoli and carrots. Calculate the price of each vegetable in each year.
describe each of the four properties of indifference curves. explain what is meant by asymmetric information. identify
according to the textbook the profitability of cable tv service is approximately 5 that of petroleumnatural gas is 10
Take a small company to be established and construct a cost revenue analysis to see how feasible the project could be? Divide your cost of production into fixed and variable cost. Calculate the price that you think will make the business break eve..
An increase in _____________ is an increase in the quantity willingly provided at any price, or (equivalently) a decrease in the price necessary to bring forth any particular amount to the market? An decrease in price in one market will (all else ..
is stability in the general level of prices through time important? why or why not? should price stability be the goal
complete the supply and demand simulation located on the student website.write 700 - 1050-word paper of no more than
The oil price shock of 1980 sent gasoline prices sharply higher. Coal prices moved in sympathy with oil prices, with the result that coal companies earned pure economic profits
would warehouse operators insist on owning their own trucking companies? why or why not? what coordination and control
High capital-asset ratios are desirable as they offer a buffer against non-performing bank loans.The ratio is defined as the excess of bank liabilities over assets.
Would you expect the price elasticity of demand to be higher at the level of an individual school (e.g., Baker) or at the aggregate level
the mallet industry is comprised of six firms of varying sizes. firm 1 has 35 percent of the market. firm 2 has 25
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