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Consider the following short-Run production function(where L=Variable inpout, Q=output): Q=6L2-.4L3
Determine the mariginal productDetermine the average product functionFind the value of L that maximizes QFind the value of L at which the marginal product function takes on its maximum valueFind the value of L at which the average product function takes on its maximum value.
In short run, assume that all the costs [except film rental and concessions] at a theater are fixed, and that each theater can seat five hundred people per day, no more.
The Fed sells bonds in the open market during a period of low unemployment and no excess industrial capacity. The economy is far below capacity and the government lowers taxes
Cypress River Landscape Supply is a large wholesale supplier of landscaping materials in Georgia.Cypress River’s sales vary seasonally.
)Now suppose that some of President's close political advisers are urging him to adjust taxes but not spending. Assuming the same initial level of G (=500), how would you advise the administration to adjust taxes to reach potential GDP?
Cinema Theater has estimated the following demand functions for its movies: Daytime demand, QD = 400 - 50 PD Nighttime demand, QN = 200 - 20 PN The marginal cost of serving another customer is $5 and its fixed costs are $100.
Governments have sometimes not remembered about elasticity when they formulate tax rule. A few years before the city fathers in Washington DC wanted to raise revenues so they raised gas tax by ten cents a gallon.
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
Suppose the price that year rose by 8% and the real rate of return in the stock market was 4%. Your friend says she or he was being more than fair giving you more than the rate of inflation as a return, What do you think and Why?
Pass laws prohibiting children from working in labor market X. Require a license to work in labor market X. Increase tariffs on imports that compete with labor market X employers.
The Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues. The Interior Department must believe that
Julia must select between two different designs for preventing closure, which will be in use indefinitely. Model 1st has a life of 3-years and cost of $8000, and maintenance of $1000 every year.
Construct a table showing the average variable, average total, and marginal costs of paper cup production. Show your work or embed an Excel spreadsheet into your file showing the formulas you used.
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