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A firm is producing 1,000 units of output with 40 units of labor and 30 units of capital. The marginal product of the last units of labor and capital are, respectively, MPL = 60 and MPK = 120. The prices of labor and capital are, respectively, w = 30 and r = 40.
Propose two (2) applications of the knowledge that you have learned in Economics 550 at Strayer University to your current or a future position.
what does the term economizing problem mean for an individual and for society? as part of your answer include the four
Suppose that the American imports of wine are a small part of total world wine production, draw a graph for the United States market for wine under free trade.
Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using e..
Employ the following equation to demonstrate why firm producing at the output level where MR=MC will also be capable to maximize its total profit.
Economies of Scope) Distinguish between economies of scale and economies of scope. Why do some firms produce multiple product lines, while others produce only one?
Explain how international trade restrictions hurt the American consumer. Provide an example to support your argument.
Define world allocative efficiency as it relates to regionalism and multilateralism. Discuss the static effects and dynamic effects of customs unions.
Discuss how the GDP might be understood orused differently
imagine you are part of a hrm team and need to make staffing decisions for a new production facility recently purchased
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You have been hired by the government to reduce carbon emissions. As well, you need to "sell" the plan to the public. Choose whatever policy you think best matches the goals of the political party you work for. Write a short newspaper advertisemen..
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