Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Assume that a firm has the following production function: Q=30K^1/3 L^2/3, where K is the number of machines and L is the number of hours of labor. The firm has 8 machines it purchased at a price of $50 each and it will be unable to obtain any more machines for the relevant time period. The firm's output sells at a price of $2 per unit, and labor costs the firm $20 per hour.
a) Whats the firm's VMPL function?
b) How many hours of labor should the firm employ?
c) What will be the firms total profit?
Based on absolute advantage and comparative advantage, explain the effect of global economic conditions on the choices available to that country. Include the current exchange rate of the country's monetary unit.
If I spent all my money ($450,000) on a new house I could buy a house with 4500 square feet. I settle for a 1500 square foot house. (Each square foot costs the same.) The day after I close the deal a nearby nuclear power plant is condemned and the va..
Insurance Companies track life expectancy information to assist in determing the cost of life insurance policies. Last year the average life expectancy of all policy holders was 77 years. ABI Insurance wants to determine if their clients now have a l..
What is the difference between ' change in demand' vs. 'change in quantity demanded'? What are the determinants of change in demand?
Ethnocentrism is generally defined as viewing one's own culture as superior to all others. However, quite often, it is not quite that obvious. Whenever we encounter something that seems strange or different, we will feel some degree of discomfort. Ho..
Describe the slope of the isocost and isoquant curves, and hence derive a relationship between the productivity of capital and the productivity of labour.
Recommend some U.S. fiscal policy change in government spending or transfers, and explain why that change would be good for most firms and good for the U.S. economy.
Dennis is only interested in two things, eating food and playing the online multiplayer game Globe of Gratuitous Violence (GoGV) – a close competitor to world of war craft. Dennis’s utility is given by the function € U(q f , qg ) = 0.25ln(qf ) + 0.75..
Explain how consumer surplus changes when a monopoly price discriminates. Explain how consumer surplus, economic profit, and output change when a monopoly perfectly discriminates.
What does Beta (β) measure and reflect? Consider the following: A firm’s operations are 45% GREATER than an average firm in the market. Relevant government securities trade @ 3.7%; and the current average return on the market as a whole is 9.1%. What..
Can a for-profit business engaged in maximizing profits also be an ethical business? If so, why or why not? Include discussion of at least 1 ethical theory, refer to a least 2 materials assigned in Theme 2, and give at least 1 specific example to cla..
Discuss the importance of laws and the requirements to amend them regularly. Cite examples from the perspective of Oman.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd