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The Marginal product of labor in production process is statistically estimated as MPL=10(K/L)^0.5 Currently the process is using 100 units of K and 121 units of L.Give the very specialized nature of capital equipment K, it takes about a year to increase k; but the rate of labor input, L, can be varied daily. if the wage rate is $ 10 per unit and the prices of the output is $ 2 per unit, is the firm operating efficiently in short run? if not explain why.
Also determine the optimal rate of labor input. on what factors does the labor efficiency depend?
Effects of wage stickiness and the shape of the aggrate supple curve,effect of expectations on aggragate demand. Phillips Curve, natiral rate of unemployment, expacted inflation , the relationshipe between AS-Ad and the Phillipe Curve.
What are the differences among horizontal, vertical, and conglomerate mergers?
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Suppose that virtually everyone in the United States decides to take life a little easier, and the length of the average workweek falls by 25%. How will that affect GDP Per capita GDP How will it affect economic welfare
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