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You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs. The firm produces and sells a given output. If w = $35, r = $100, MPL = 7, and MPK = 20 the firm:
A. is cost minimizing.
B. should use less L and more K to cost minimize.
C. should use more L and less K to cost minimize.
D. is profit maximizing but not cost minimizing.
what is the costbenefit approach that a typical economist takes to analyze regulations? what are the goals of taxation?
The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, What is the most effective way of decreasing the quantity of drugs consumed
How would the effects of international trade on the domestic orange market change if the world price of oranges were above the domestic equilibrium price? Draw a graph to help describe your answer.
1. caty consumes only goods x and y . her utility function is ux y minx y. we are given that px 3 py 6 and catys
Uncertain whether Health Economics will be an easy
suppose that several years from now the yield to maturity on 2-year treasury note was 4.85 while the yield on a 1 year
you are a senior production manager for a company that has traditionally pursued a corporate strategy of unrelated
1. nbspfor each of the following transactions identify whether or not it would be included in gdpnbspa. an accountant
Suppose the equilibrium price in the market is $10 and the price elasticity of demand for the linear demand function at the market equilibrium is 1.25. Then we know that a demand is inelastic.
Employ the following equation to demonstrate why firm producing at the output level where MR=MC will also be capable to maximize its total profit.
Three fans are to be installed at a mine site; one immediately at a price of $260,000, one in five years at an estimated cost of $310,000 and the third in eight years at a cost of $480,000. Find out the total expenditure as a present value if the ..
Felix Jones, a recent engineering graduate, expects a starting salary of $ 65,000 per year. His future employer has averaged 5% per year in salary increases for the last several years.
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