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Suppose you are given the following Total Product Function: Q=100 K^3/2 L^4/2 M^4/7, where Q is total output or units produces; K, capital; L, labor; and M, materials. That is this is an input factor production function.
Suppose K = 1,000; L = 200 workers; and M = value of all materials use at 450
1) Find and interpret the output elasticity (or elasticities).
A major electronics manufacturer expects to generate additional revenue from its recently won government contract. The company forecasts that the revenue will be $190 million in the first year, but will decline by $2 million every year for the next 3..
A company named Highway Data has been given a contract to install highway information signs along a 500 mile portion of interstate 555. The signs will be placed at the end of each 10 mile section. The signs cost $138 each. Data fiber optic cable comm..
If the marginal revenue from a product is $15 and the price elasticity of demand is ? what is the price of the product?
Illustrate what price-quantity comb I country maximizes your firm's profits. Is Demand elastic, inelastic or unit elastic at the profit-maximizing price-quantity combination.
Last year, $100 million in outstanding bank loans to a developing nation’s government were not renewed, and the developing nation’s government paid off $50 million in maturing government bonds that had been held by foreign residents.
The price elasticity of demand is -1.2. What type of elasticity is this?
Suppose the own price elasticity of market demand for retail gasoline is -0.9, the Rothschild index is 0.4, and a typical gasoline retailer enjoys sales of $1,700,000 annually. What is the price elasticity of demand for a representative gasoline reta..
Illustrate how fast will his production and consumption grow over time. Compute the consumption of the farmer in each of the first five years under plans.
A descriptive essay on "What are the necessary ingredients for a nation to experience greater rates of economic growth, higher average standards of living, and a great ability to compete in the global economy? That is, what could the U.S. do to achie..
Elucidate how marketable permits can be used to tackle pollution problems. illustrate your answer with examples from the real world. what problems might a permit face? again use real life problemswere possible.
Show how the answer depends on the shape as well as location of the supply as well as demand curves.
q1. illustrate what are the implications of savings and population growth at steady a state in the solows neoclassical
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