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Swim coach Rob teaches athletes how to swim freestyle while keeping their hips raised. Let q represent the number of swimmers that learn the technique, and let h represent the number of hours of individual training Rob provides in which the swimmers focus on their hips. The team's production function is q=h0.05. Rob paid $160 per hour of practice. What is the cost function, C(q)?
suppose that the government is debating whether to spend 100 billion today to address climate change. it is estimated
We are seeing a merging of media firms. For example, companies like Verizon now provide phone, cell, TV and internet. A common form of selling services involves putting them together in packages or “bundles” and offering them for a lower price than i..
All astute comments thus far. Some government projects also programs continue to give benefits for many yrs.
q1. one of the most important areas of economic that namely use of leading economic indicators to forecast the future
Suppose the income tax rate schedule is 0 percent on the first $10,000; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on any income over $70,000. Family A earns $28,000 a year and Famil..
The price of gasoline is $2.50 per gallon at the closest gas station, but is only $2.30 per gallon at a gas station two miles away. By driving to the farther gas station, opportunity cost is:
Monopolistically competitive firms short run profits must necessarily be zero. Monopolistically competitive firms short run profits can be positive. Monopolistically competitive firms long run profits are always be zero. Monopolistically competitive ..
Farmer Purple wishes to choose the most cost-effective way of harvesting his quinoa crop. Purple has three choices of combinations of differing amounts of machinery and labor. The table to the right shows the three production technologies.
Suppose you read in the newspaper that all last week the Fed conducted purchases in open market, and that on Tuesday of last week it lowered the discount rate.
q.a consumer who conforms to the von neumann morgenstern axioms is faced with four situations a b c d. he prefers a to
Suppose there is a technological change that allows manufacturers to make cell phones much more cheaply; in fact the price falls by 25%. If the short run price elasticity of demand is -0.8, how much does price change? Are cell phone producers better ..
Suppose the free trade price of a domestic product that faces foreign competition is $10,000 and contains 25% imported components. Assuming this is a small country, consider the following situations: What is the product's price after the imposition o..
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