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Suppose that a firm's production function is . The cost of a unit of labor is $20 and the cost of a unit of capital is $80. a. The firm is currently producing 100 units of output, and has determined that the cost-minimizing quantities of labor and capital are 20 and 5 respectively. Graphically illustrate this situation on a graph using isoquants and isocost lines. b. The firm now wants to increase output to 140 units. If capital is fixed in the short run, how much labor will the firm require? Illustrate this point on your graph and find the new cost. c. Graphically identify the cost-minimizing level of capital and labor in the long run if the firm wants to produce 140 units. d. If the marginal rate of technical substitution is , find the optimal level of capital and labor required to produce the 140 units of output.
What is the most likely component of aggregate demand to start a recession? How does the aggregate demand multiplier influence a recession?
For a range of interest rates from 5% to 25% would your advice concerning whether to proceed with the project change?
You own a company. You have just been tasked with making the company more socially responsible. What issues must you address to satisfy the employees, stockholders, customers, and community
q1. assume that the market for tomatoes is perfectly competitive. using an appropriate model or models illustrate and
Explain in detail. Who are the past and present charimen. Why was the current chairman in the news recently and what did he propose?
Suppose that competition among several market makers forces the spread down to $2. How many goods are traded?
Sonya used to sell real estate and earn $25,000 a year, however now she sells greeting cards. Normal profit for the retailers of greeting cards is $14,000. Sonya utilized 4,000 of her savings to start her business.
q1 the demand for packs of pokemon cards is given by the equation qd 500000 - 45000p. ata price of 2.50 per pack what
Monopolistic competition is similar to perfect competition in that:
Orange juice and apple juice are known to be perfect substitutes. Draw the appropriate price-consumption curve (for a variable price of orange juice) and income-consumption curve.
write a three to four 3-4 page paper that addresses the questions below.debate whether or not economics apply to health
budget sets and full price elasticitya suppose that marthas income is 40000 per year. she can spend it on health care
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