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Question: Q = 6LK w = $3, r = $1.5 The firm would like to know the maximum output that can be produced for $9,000. Find the combination of inputs that maximizes output for a cost of $9,000, the amount of output that can be produced, and identify the expansion path. Fill in Multiple Blanks
(a) The expansion path is (enter the equation of the expansion path in the form K = f(L)). For (b), if rounding is required, round your answer to the whole number (i.e., do not show the decimal places). Enter the numerical value only, do not enter any symbols ($, €, %, etc.).
(b) The combination of inputs that maximizes output for a cost of $9,000 is: K = units and L = units, and the amount of output that can be produced is units.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
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"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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