Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose a firm has a perfectly competitive production function: q=f(K,L)=2(K^1/2)+2(L^1/2). Suppose the price of capital is r and the price of labor is w.
1) The firm's cost minimization problem can be wrtten as:
2) Find the conditional input demand functions:
3) The firm's cost function is:
4) Using the cost function, prove what returns to scale the technology exhibits:
5)Suppose r=1 and w=2 what is the marginal cost function and the average cost function? Also provide a graph to illustrate
go back to the numberical example with no factor substitution that leads to the production possibility frontier in
Define inflation.Assume that you live in a simple economy in which only three goods are produced and traded: fish, fruit, and meat. Suppose that on January 1, 2010, fish sold for $2.50 per pound, meat was $3.00 per pound, and fruit was $1.50 per poun..
why do points on a utility possibility curve represent efficient allocations of resources? why must the utility
A company wants to prepare the demand curve for its product that it is selling. How would it get the information to prepare the schedule? How could a company prepare the demand curve for the new product that has not been seen by the public?
Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.
Determine the profit maximizing ticket price for the theater. What is the price elasticity of its demand at this price? What is the elasticity of its demand with respect to advertising?
Roughly speaking, a merger between two firms is legal:
Behavioral economists believe that people do not always act in ways the traditional economic framework suggests they should which of the following are examples of this? check all that apply (why) 1. Some people treat $100 they earn differently fro..
Give real world examples of each of them. How would you construct an argument around the comment "more money you have the more problems you have".
identify a company in your local area that you would classify as a monopoly. explain why you classified the company as
What happens to the market when Mr. Burns raises the price he charges - Will this stop his losses? Why or why not?
What output maximizes the White Company's profit and what is the White Company's economics profit? Should the White Company continue in business or shut down in the short-run? Why?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd