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Evren wants to go into the donut business. For $100 per month he can rent a bakery complete with all the equipment he needs to make a dozen different kinds of donuts (K = 1, r = 100). He must pay unionized donut bakers a monthly salary (w) of $200 each. He projects his monthly production function to be Q = 5KL, where Q is tons of donuts. a. With the current level of capital, what is the marginal product of labor? Is the marginal product diminishing? Explain. b. If Evren wishes to make 25 tons of donuts, how many bakers are required given the current level of capital? How much will it cost to produce this (total cost)?
which her costs are measured is time. Illustrate what is the total cost to hildegard of finding a new plot of grass and getting y units of grass from it.
If you want to make four equal payments on each January 1 from 2013 through 2016 to accumulate the $1,000, how large must each payment be.
What services do you predict Bangalore India exports and what services do you predict it imports.
Conditions that exist when they shut down their operations and the conditions that exist when they resume their operations.
What is the marginal product of the second employee. What is the marginal revenue product of the fourth worker.
Suppose a woman marries her butler. After they are married, her husband continues to wait on her as before, and she continues to support him as before (but as a husband rather than as an employee). how does the marriage affect GDP? how should it a..
Prime Products manufactures specialized goods to customers' specifications and operates a job-order costing system.
The respective forecasts were 120 for all four years. Illustrate what is the resulting MAD value that can be computed from this data.
What is approximately maximum amount rm is willing to pay to be allowed to use e more units of input x, for e small.
Suppose you can collect country level trade flows and GDP data. Explain how can you verify monopolistic competition model with data. Illustrate what do you expect is impact of transportation costs.
Explain how markets in perfect competition differ from markets that are imperfectly competitive. Illustrate what role does firm have in determining market price under each condition.
Explain how do you think higher demand has affected equilibrium wage. In which direction do you think labour supply and demand shifted.
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