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Q. Assume Firm Y's production function is given by the following Cobb Douglas equation: Q = 0.5 x L0.6 x K0.5 where L denotes labor and K denotes capital.
a. Does the production function exhibit increasing, decreasing or constant returns to scale? Explain.b. If labor hours increase by 10%, what is the percentage change in output? Explain.c. If capital decreases by 10%, what is the percentage change in output? Explain.d. If the number of labor hours increases by 10% and the number of hours of capital used decreases by 10%, what is the percentage change in output?
Should the airline replace its night flight from LA with a morning flight as well as should the airline remain in business.
On one hand, the WTO's role in international trade is becoming more significant. On the other hand, its verdict on the Brazil's Embraer versus Canada's Bombardier case did not seem to solve the problem.
The setup cost is $100 per order up to 99. For orders of less than a pallet, the setup cost is $200. The setup cost for pallet loads is $1000. The holding cost is 1% of the purchasing cost per item per week.
Why all the balance of payments accounts be in surplus. What factors determine the demand for British pounds in foreign exchange markets.
Compare the competitive price charged and quantity produced under perfect competition and monopoly. Other than identifying the presence of only one producer under monopoly, why do we tend to see this differential.
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
What would the' peso- dollar exchange rate be if purchasing-power parity holds? If a monetary expansion caused all prices in Mexico to double, so that soda rose.
Suppose that only data on in action were published but not on claims for unemployment. What would be a reaction of the USD/EUR in that case.
Fully explain your answer in a way that shows your understanding of monopolies. Your paper should be two to three double-spaced pages and formatted according to APA style as outlined in the Ashford Writing Center.
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
Who has the comparative advantage in what product. Once they specialize, how much does output increase. What are the terms of trade if the United States trades 1 can of soda for 5 units of clothing.
Find the equilibrium price and quantity algebraically. If tourists decide they do not really like T-shirts that much, which of the following might be the new demand curve.
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