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Q = 25L^.4 K^.6 where Q = output measured in one thousand covers, L = labor measured in person hours and K =capital measured in machine hours. Techcovers currently pays a wage of $10 per hour and considers the relevant rental price of capital to be $25 per hour. Determine the optimal capital labor ratio that tech covers should use in their production of covers. if the firm's budget is $7500, how much labor and capital should be employed?
Consider a city with a river. The city has a resort whose visitors use the river for recreational purposes. The city also has a tannery that creates industrial waste which it dumps into the river.
Why are these two concepts so imortant in urban planning? Explain what Woodrow Wilson (1887) meant when he claimed that politics and administration should be considered to exist separately from each other. How do the concepts of interconnectivenes..
Describe the likely effects on the total welfare (surplus) of society of the status quo, i.e., do nothing and let the market decide.
two firms compete in the emerging market for energy drinkscold medicine hybrids that feature caffine alcohol and cough
research and discuss how the economic theory concerning decisions in the face of imperfect knowledge affects demand for
Assume Zack values his time at $0.25 per minute. He can purchase an MBTA report each morning that tells what the actual travel time will be for both the bus and the subway. How much is he willing to pay for this information?
"No firm is completely sheltered from rivals; all firms compete for consumer dollars. If that is so, then pure monopoly does not exist." Do you agree. How might you use concept of cross elasticity of demand to judge whether monopoly exists
Find out the market structure (competition, monopolistic competition, oligopoly, and monopoly) that best characterizes the infant formula industry.
choose one 1 of the following organizations to research google zappos southwest hewlett packard xerox w.l. gore dupont
assume that the government imposed a price floor on wages minimum wage in order to make sure that workers can earn a
Movie theaters often offer decreased rates for children under ten. This suggests that tht demand for adult admission is
Purpose the market demand curve for a product
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