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a) State the definition of the marginal rate of technical substitution, MRTS. What does that mean, in your own words?
b) Show how to derive a relation between the marginal products of labor and capital, MPL and MPK, and MRT
Suppose the market for hospital outpatient treatment is in equilibrium when a price ceiling is set below the equilibrium price. What do you expect to happen?
The problem is related to Economics and it is talk about marginal utility and consumer surplus for a consumer of chicken nuggets. The answer discusses this in further detail.
What happens to the level of output and the price level in the short run and in the long run c. According to Okun's law, what happens to unemployment in the short run and in the long run d. What happens to the real interest rate in the short run and ..
Few trends could so thoroughly undermine the very foundations of our society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible." Explain why you agree or disagre..
You borrowed $150,000 with a 30-years payback term and a variable APR that starts at 9% and can be changed every five years. What is the initial monthly payment?
If the federal government enacts a tax on a monopoly, how would expect the additional tax to affect the following Output produced by the monopoly or else.
the type of cache memory i.e. level 1 level 2 or another type that resides on a computer that you own or on a
Question on vertical integration
A firm is currently producing in the elastic portion of its demand curve. What course of action do you recommend for it assuming it wants to raise revenue Continue producing at the current output level
Write out a regression with quarter dummies (use summation notation to be compact). How is this same as a time fixed effects regression? Write out a regression equation with a variable “time,” which takes on the value 1 at the beginning of the sample..
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
part 1 special characteristics of purely competitive firms1. how does the investment banks industry fit into the
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