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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)
The output sold by a particular firm may be quite different from the output sold by the other firms in the market
a firm sells its product in a perfectly competitive market where other firms charge a price of 80 per unit. the firms
bridget has a limited income and consumes only wine and cheese her current consumption choice is four bottles of wine
Others meter water use and charge according to the quantity of water customers use. Compare the way the two systems would affect the cost of water use at the margin and the use of water by rational consumers.
over the business cycle real gdp tends to increase during the expansion and decrease during the contraction. can you
The demand for money to cover unexpected expenditures and to meet emergencies is known as
What will be the immediate impact on wages in each of the regions in the short run (before any migration between the North and the South occurs)?
Milk becomes more popular amd better feed increases milk production. how do these events influence demand and supply describe how the equilibrium price and equilibrium quanity changes.
If the market has a very elastic demand curve and inelastic supply curve, how would the application of a subsidy is shared between consumers and producers? Use the tools of producer surplus and consumer surplus to answer this question. Is there a dea..
1-define cross-price elasticity including substitutes and complements.2-provides a logical explanation of the
assume you purchased a corporate bond at its current market price of 850 on january 2 2002. it pays 9 percent interest
What impact would an increase in the monthly premium have on their consumer surplus? What would be the impact of a reduction in co-payments?
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