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Assuming no fixed costs, show that if a firm with Cobb-Douglas production function pays its labor and capital resources the value of their marginal products then it
(a) Earns normal profit if the function is constant return to scale.
(b) Earns above normal profit if the function is decreasing return to scale.
(c) Incurs losses if the function is increasing return to scale.
The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books:
Suppose a persona quits a job paying $40,000 per year and starts a business with $100,000 withdrawn from a money-market account earning 8 percent per year.
what do you think are the pluses advantages and minuses disadvantages when firms have market power? be sure to explain
Write about what could be changed at airports operationally to be more sustainable
the following data is taken from the records of a non- life insurance company.annual rate of claim amount
How many carpets should the firm produce in order to maximize profit?
Write to your parent or significant other and explain the economics concept of price and income elasticity. They probably don't have much of a background in economics, so you'll need to keep it fairly simple, but you want to get the key ideas acr..
Now consider the long run, in which bike manufacturers are free to enter and exit the market. Show the possible effect of this free entry and exit by shifting the demand curve for a typical individual producer of bikes on the following graph
If an effort to “maintain national security” government demands the wheat growers in America to produce Qs=16million pounds per year. The market can be expressed as P=120-3Qd and P=5Qs. What is the result of the government’s actions?
The positioning and replenishment of finished goods inventories at the retail level can be determined using. Benefits of ERP systems include all of the following except
Suppose that good X sells at $2 per unit and good Y sells for $1 per unit. Calculate the own price elasticity.
In the market for laptop computers, assume future prices are expected to fall. Using two graphs draw two possible but different scenarios that may result which account for how consumers would react and how producers would react. (Hint: In each graph,..
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