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A firm produces output according to a production function Q=F(K,L)=min {2K,4L}
a. how much output is produced when K=2 and L=3?
b. if the wage rate is $30 perhour and the rental rate on capital is $10 per hour, what is the cost-minimizing input mix for producing 4 units of output?
Find out an output which maximizes the total revenue. Calculate the price elasticity of demand at this output.
Public goods can be produced by either the government or the private sector. Private goods can be produced in either sector as well. The problem is that the market tends to underproduce public goods and overproduce private goods.
A supply curve does all of the following,uses the ceteris paribus assumption.Holds constant time, place, income, costs of inputs, costs of substitutes, and suppliers' expectations about future prices.
At the end of 1987, you bought a piece of land for $35,000. In addition to the $35,000, you paid $1,700 in closing costs (costs associated with the purchase and title registration). For the years 1988 through 2002, you paid, on average, $950 in pr..
Illustrate what are the four supply factors of economics growth. What is the efficiency factor? Please illustrate these factors in the terms of the production possibilities curve.
Assume that t rises to 0.25. What's the new equilibrium income and the new multiplier? d) Calculate the variation of the budget surplus, would the variation of the surplus be higher or lower if c = 0.9 instead of 0.8.
Using the 'standard' Taylor rule with Inflation PCE (not the core), and using end of 2011 data (2011-10-01) what is the federal funds rate implied by the 'standard' Taylor Rule?
Fully discuss the method by which the Federal Reserve uses the banking system to create new money.
Picture yourself living in the period following the Civil War. Would you support a central banking system? Why or why not?
Illustrate what impact could this have on the level of production and therefore the unemployment rate.
you are pleased with the service your law firm has given, but you know it has no international experience, what are the various formes of dispute resolution available to your company what are the advantages and the disadvantages of each for your c..
Please describe how do Keynesian and Real Business Cycle economists differ on right response to Japanese stagnation? On what sorts of issues might they be able to agree?
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