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a) If labor and capital (inputs) are perfect complements in production, but 4 units of labor are needed per unit of capital, find the production and cost functions. Find the cost function for the general form of perfect complements, f(L, k) = min{aL, bk}.
b) If labor and capital (inputs) are perfect complements in production, but 4 units of labor are needed per unit of capital, find the production and cost functions. Find the cost function for the general form of perfect complements, f(L, k) = min{aL, bk}
c) A firm has a production function of y = f(L, k) = (√ L + √ k) 2 .
(1) Find expressions for the marginal product of labor and capital. (2) Find the cost function.
By defining its business as printing books instead of empowering imaginations, a children's book publishing company would more than likely experience.
If the rr is equal to 5%, what is the value of the money multiplier (simple deposit multiplier)? If $30,000 in cash is taken from under your mattress and deposited into a bank, predict the impact on the money supply in the economy.
A fleet manager must choose between two trucks to purchase for a company's fleet. The company will keep either truck for 4 years. Truck A costs $29,000 and has a market value of $16,000 after 4 years. Truck B costs $33,000 and has a market value of $..
Using the method of Lagrange multipliers to derive Sharifah's demand for brownies and espressos. Explain how many brownies and espressos will Sharifah consume.
Vending machines are a popular form of non-store retailing. Why? What types of products have been successfully introduced in such machines in the past ten years or so? And why? Which ones have failed and why?
Who sells permits and Explain how many do y sell. Who buys permits and Explain how many do y buy. Briefly explain why sellers and buyers are each willing to do so. Illustrate what is total cost of pollution reduction in this situation.
Using a fully labeled diagram, show the output that a price leading firm would produce if it sought to maximize short-run profit in rivalry with a “competitive fringe” (smaller firms involved in the market). Then show the output it would produce if i..
Consider a risk free asset that can be bought (lent) or sold (borrowed) with an interest rate of 75% such that $1 today is worth$1.75 a period later. What is the number of shares (X) to be held in addition to the -$14.29 in the replicating portfolio?..
q. assume labor supply is given by w102ls where w denotes the wage. labor demand is given by w 100-ld.a compute
Express Illustrate what will happen also why to the firm's average fixed costs, marginal costs, average costs also profits as the firm makes its choices.
Some finance experts advise consumers not to worry about rising gasoline prices, the cost of which can easily be covered by forgoing one takeout meal a month, but to worry about how high energy prices will affect the rest of the economy. For example,..
Suppose that a country that has a high level of output per person agrees to trade with a country that has a low level of output per person. Which country can benefit?
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