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In the short run, a firm cannot vary its capital, K=2, but can vary its labor, L. It produces output q. Explain why the firm will or will not experience diminishing marginal returns to labor in the short run if its production function is. A) q=10L + K and B) q= L^0.5 K^0.5
The government is allowing for emergency procedures to aid suffering chocolate addicts.
How does this export subsidy affect the domestic price of steel, the quantity of steel produced, the quantity of stell consumed, and the quantity of steel exported. how does it affect consumer surplus, producer suprlus.
Now Assume that the interest rate falls to 50 percent, and the household decides not to borrow or lend at all. Is the household better off or worse off with the higher interest rate.
Suppose that all the necessary conditions exist for the realization of equal wage rates in every market of labor.
Describe the determinants of varying levels of income. What factors determine a wages of a person
Average cost of producing 70 pies in batches of ten is $5.00 per pie and the average cost of producing 80 pies in batches of ten is $4.50 per pie. Elucidate the marginal cost of the 8th batch of pies.
Textile Workers of America is planning to strike for higher wages. Management predicts that if strike is successful, cost of labour will increase $100 per day. If strike is successful, how would this affect decision in part a to purchase a textile..
Global studios are thinking of producing a mega film, Aqua world, which could be a mega hit or a mega flop.
Presumptuous the demand curves were linear or graphically demonstrate your reasoning.
Illustrate types of government programs would be most effective in combating each type of unemployment.
Suppose me also my roommate started a bagel delivery service on campus. List some of our fixed costs also express why they are fixed.
the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500. What is the average total cost.
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