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A firm has the following Total Product function
Labor Output Labor Output Labor Output0 0 4 69 8 1151 12 5 86 9 1162 30 6 100 10 1163 50 7 110
a) Find the Marginal Product and use this information to determine where diminishing returns sets in.
b) If labor costs $684 per unit, find the Marginal cost at Q = 30, Q= 50 and Q = 69. Round any decimal answers to 1 place. Explain how these answers are consistent with the MP you found in (a).
Make an in depth analysis on how your prediction of indicators Gross Domestic Product, Producer Price Index and Retail Sales or PC Retail Sales will effect the Dynamic Random Access Memory industry.
Enumerate the various objectives a firm might have and how the price mechanism can be used to realize such goals. While you're at it, calculate the price and quantity to: (a) Maximize TR (b) Maximize total profit
Alpha and Beta, two tiny islands off the east coast of Tricoli, produce pearls and pineapples. The following production possibilities schedules describe in their potential output in tons per years. Do not graph or illustrate - only provide numerica..
Suppose Y is household income and he is household expenditures on health care. Use the data from the regression output to answer the given question:
J.C. Olson & Co. had earnings per share of $8 in year 2006, andit paid a $4 dividend. Book value per share at year's end was$80. During the same period, the total retained earningsincreased by $24 million. Olson has no preferred stock, andno new c..
Autie Frannie wants to help pay for her twin nephews to attend a private school. She intends to send a cheque for $2,000 at the end of each of the next eight years to apply to the cost of schooling. a) If general price inflation, as well as tuiti..
The Crockett Land Winery must replace its present grape-pressing equipment. The two alternatives are the Quik-Skwish and the Stomp-Master. The annual operating costs increase by 12% each year as the machines age. If the interest rate is 9%, which ..
The income statement of Rolls Royce Group Plc., a U.K. automotive manufacturer, for the year ended December 31, 2007, reported revenues of £7,435 and cost of sales of £6,003. In addition, it reported other operating expenses of £918, a loss of £2 ..
Suppose the consumer price index in January 1980 was 100 and it was 150 in September 1990. How much money in September 1990 would be needed to purchase the same the same amount of goods and services.
Using a method similar to the consumer price index, compute the percentage change in the overall price level. Use 2009 as the base year, and fix the basket at 1 karaoke machine and 3 CDs.
Any change in the economy's total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.
Suppose that the total benefit and total cost from an activity are, respectively, given by the following equations: B(Q)=150 + 28Q - 5Q^2 and C(Q) = 100 + 8Q. (note: MB(Q) = 28 -10Q and MC(Q) = 8). Write out the equation for the marginal net benefi..
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