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An IT company called Zucchini has the following production function: y=16L^(1/4) K^(1/4). (A) Using the following two conditions for profit-maximizing in the long-run, show that the long-run demand functions for input labour is L=(4p/r)^(1/2) (4p/w)^(3/2)=(16p^2)/(r^(1/2) (w) ^(3/2) ) (1) p.mpL=w (2)p.mpK=r In the short-run, the level of capital is fixed at 256 units. The price of output is $10, the cost of labour is $20/unit and the cost of capital is $4/unit. (B) Find the value of short-run demand for labour (report all numbers until the second decimal). (C) Find the value of short-run profit for the firm. (D) Derive the two conditions (conditions 1 and 2) you used in part (A). [Hint: You need to show me using calculus where these two conditions come from. These two conditions are the result of maximizing profit by choosing labour and capital].
In the long run, the greater burden of a specific tax will usually be absorbed by
The market for sports performance drinks experienced a big shift in 2012 as sales of low-calorie sports drinks grew by over 25%. Many attributed this shift to greater use by women who wanted a sports drink without many calories.
Why does a horizontal LM curve imply that fiscal policy has the same effects on the economy as those derived in Keynesian Model (horizontal AS)? What are the implications of a horizontal LM curve for the link between goods market and asset market?
Different economies grow at different rates. Three countries that have done very well over the last three decades are China, India, and Ireland. Both China and India are huge while Ireland is relatively small. Why have these economies grown so quickl..
An increase in government spending
Elucidate why does strong mono tonicity implies local non satiation but not vice versa
Compute the percentage change in price and quantity (%ΔP, %ΔQd) by adding this one room. Calculate the Price Elasticity of Demand.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Explain how much business CPI does abroad, the firm would expose 5 to 20 percent of revenue to currency fluctuations.
If variability of data in a time series increases overtime
Buffer stocks often have been excessive and costly to maintain because:
In 1870, the U.S had an average income of about #2758 and the U.K of about $3463. In 1999, the figures were $30,600 and $22,640, respectively. If each country grew at a constant rate over these years, in which year did the U.S. overtake the U.K. in t..
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