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A firm’s production function is given by: f(L,k) = L^1/2 , where L is the only input into production and it is variable in both the short and long run. Draw the long-run conditional labor demand in (L,Q) space (in other words, with L on the x-axis)
McFadden’s chief engineer recommends that the firm hire 400 hours of skilled labor and 100 hours of unskilled labor. Is this the optimal combination? If the McFadden Company decides to spend a total of $5000 on skilled and unskilled labor, how many h..
Major challenges that multinational enterprises face
what do you mean by a social welfare function? if you assume that such a function exists what properties of social
what determinants affect supply and what affect demand. Once you have drawn in your change, write a short explanation for each question discussing what would be the new equilibrium price and quantity levels because of this change.
Which of the following states a central element of the economic way of thinking? Scarce goods are priceless. The realism of the assumptions is the best test of an economic theory.
Suppose you were in charge of designing the border security policies for airports, seaports, and roadways in the United States. How would you go about finding the optimal level of security, the optimal level of commercial trade and tourism, and th..
some games of strategy are cooperative. one example is deciding which side of the road to drive on. it doesnt matter
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.
Bill Mitselfik borrowed $10,000 to be repaid in quarterly installments over the next five years.The interest rate he is being charged is 12% per year compounded quarterly. What is his quarterly payment?
Owners of Sizzling Foods can earn a 14% rate of return on that land it they leased it others as a parking lot and while the last nurse hired treated 1,000 extra patients in a year. If doctors make $40,000 a year, what do nurses make?
choose and research a specific business that is publicly traded where there has been a pattern of change in a
consider the case of a single polluter and regulator. the regulator knows the marginal benefit of pollution abatement
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