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Two variable inputs, labor (L) and materials (M), are utilized to produce output. Company's current level of output: CL = $10 / unit, MPL = 25 CM = $2 / unit, MPM = 4 (!) Decide whether the firm is operating efficiently, given that its objective is to minimize the cost of producing the given the level of output (2) Decide what changes (if any) in the relative proportions of labor and materials are required to operate efficiently.
problem 1please dene or explain the following terms. a complete answer will include a graph equation andor example as
answer the question on the basis of the following cost data for a purely competitive sellernbspnbspnbspnbspnbspnbspnbsp
you produce widgets. currently you produce 4 widgets at a total cost of 40.a what is your average total cost?b suppose
Does the Just in time( JIT) method enable companies to be successful with meeting customer requirements or does it cause supply chain delays What is the impact of component shortages when utilizing JIT
John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economyA) could get stuck in long-run equilibrium. B) could get stuck in a recessionary gap. C) could get stuck in an inflationary gap. D) would alw..
Define world allocative efficiency as it relates to regionalism and multilateralism. Discuss the static effects and dynamic effects of customs unions.
Determine the optimal size of the shopping center (to the nearest 100 square meters) based on existing estimates of the demand for retail space.
Explain why the industry supply curve is not the long run industry marginal cost curve. 3. In long-run equilibrium, all firms in the industry earn zero economic profit. Why is this true?
A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale. Explain the long-run adjustments that will create equilibrium
1. which industry is more highly concentrated one with a herfindahl index of 900 or one with a four-firm concentration
two positive externalities and two negative externalities the copy center is associated with in society. select a
Explain the effects of each of the following managerial decisions or economic influences on the profits of McDonalds, the fast food chain, referencing either basic demand and supply analysis or the Porter five forces framework (or both) in each case...
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