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Suppose a firm has the following production technology: one worker is required to operate on one machine (capital). More than one worker on the same machine will have a zero MPL. One worker operating on two more machines will also have zero MPK.
a) In the Short Run, can the firm change output?
b) In the Long Run, what is the optimal capital labor ratio for this firm to minimize cost?
Cole has $27 that he plans to spend purchasing 5 units of good X (priced at $3 per unit) and 6 units of good Y (priced at $2 per unit). The marginal utility of the fifth unit of X is 30, and the marginal utility of the sixth unit of Y is 30.
Specify whether you agree or disagree with the statement as it appears on the topic survey.
Elucidate Congress is considering reinstating a 10% investment tax credit in order to stimulate the economy.
Business competition encourages efficiency of production and leads to improved product quality.
Using the same product example above, analyzing how the risk tolerance factors play in supplying the good or service and how this should influence management’s decisions.
Economics essay-a brief paper about six pages in length also concisely analyze a contemporary problem illustrating Monopoly, monopolistic competition also oligopoly in the marketplace.
Assume that the industry is monopolized by only one company. Write the equation of the TR curve and then plot the TR curve(with Q along the horizontal axis and TR along the vertical axis) for this company. Comment on the shape of the TR curve.
Estimate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world's most expensive wine comes from France.
operating deficit is asking should the transportation authority increase or decrease the price per ride based upon the price elasticity of demand.
price elasticity of demand for stock is 1.5. this means that foe every 10 increase in stock prices the quantity
If this is a two-good, two nation model, what would Nation B’s best choice in regards to trade and specialization?
Describe how the system converges to its new equilibrium. What happens to the equilibrium wage in the long run? What happens to the equilibrium population size in the long run?
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