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Given the following productio function , what are the capital (k) and labor (L) elasticities of production?What do these elasticities tell you? Log Q=-1.5+.52log k+.65log L
The Apollo Products Company currently collects all of its customer payments in Detroit. By going to a new lock box system with boxes in Los Angeles, Boston, and Atlanta, Apollo Products can reduce the total time it takes to convert customer paymen..
Assume you own the remodeling company. You're currently earning short-run profits. The home remodeling industry is an increasing cost industry. In the long run, what do you expect will happen to:
Why is it significant for managers to understand both short run and long run supply and demand? Please give one hypothetical or real life example which illustrates your response.
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
A firm has estimated the following demand function for its product:
Assume there're three firms with the same individual demand function. This function is Q=1,000-40P. Assume each firm had the diffeerent cost function these functions are: Firm 1: 4,000+ 5Q
Professor Michael Porters generic strategy options for competing are the differentiation approach and cost leadership approach. The first involves competing by having the better product and second by having lower cost that ones competitors. Relate..
Assume that a simple society has economy with only one resource, labor. Labor can be employed to produce only two commodities- X, a necessity good (food) and Y, a luxury good ( music and entertainment). Assume the economy produced at a point inside..
In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar co..
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words
Write down some similarities and differences between monopolies and oligopolies. How would you classify Microsoft? How would you classify the power industry in your area?
Suppose a firm is operating in perfectly competitive product market where the price of its output can be sold at the price p=$10. The firm can hire any number of workers at the wage of W=$50.
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