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Draw an aggregate production function with typical shape and label it "F". Make sure to label the axis of the graph. Now, add two more production functions based on the following scenarios.
a. Efficient institutions are adopted in a country. Label this production function F2.
b. A new technology is adopted allowing greater productivity. Label this production function F3. How are these two changes different?
Intelligent fiscal policy and appropriate monetary policy permit for a stabilizing influence on US economy. The government is able to make action through expansionary or contractionary fiscal policy to manage recession and inflation when necessary.
Consider the following demand schedule. Does it apply to the perfectly competitive firm? Calculate marginal and average revenue.
Assume the annual cost of capital is 10% of the total investment( this represents annual fixed cost of the initial investment). At what production quantity per year would the brewery be indifferent between the two investment opportunities.
the purpose of the discussion board is to allow students to learn through sharing ideas and experiences as they relate
Consider a firm which employs capital and labor as inputs and sells 5,000 units of output per year at the going market price of $10. As well suppose that total labor costs to the firm are $45,000 annually.
Discuss the optimal method for procuring a modest number of standardized inputs that are sold by many firms in the marketplace. What are the primary advantages and disadvantages of using this method to acquire inputs.
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
1. if the total cost tc assembling and processing milk is given astc a av2 bn2 - cvn where v is the size and n is
1. consider the production function y min x1 x2 a. is this production function strictly concave?b. does this
other things constant if the cost of labor goes down the profits of firms willa. increase and short-run aggregate
Why does the assumption of independence of risks matter in the example of insurance? What would happen to premiums if the probabilities of houses burning were positively correlated? Can you think of a situation where they might be negatively corre..
The demand for a specific brand of toothpaste and the demand for toothpaste in general b. The demand for gasoline in the short run and the demand for gasoline in the long run
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