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The Babylonians studied problems which lead to simultaneous linear equations and some of these are preserved in clay tablets which survive. For example a tablet dating from around 300 BC contains the following problem:- There are two fields whose total area is 1800 square yards. One produces grain at the rate of 2/3 of a bushel per square yard while the other produces grain at the rate of 1/2 a bushel per square yard. If the total yield is 1100 bushels, what is the size of each field?
The average fixed cost function is monotonically decreasing.The marginal cost function intersects the average fixed cost function where the average variable cost function is a minimum.
Based on the production function parameter estimates reported in Table 7.4: a. Which industry (or industries) appears to exhibiting constant returns to scale? (Ignore the issue statistical significance.) b. Which industry comes closest to exhibiti..
q1. suppose that there are only 2 inputs i.e. labor and natural resources which produces 2 goods i.e. movies and
If the reserve requirement is changed to 5 percent, Explain how much can First Bank lend and by Explain how much can the money supply be expanded.
The following equation relates housing price (price) to the distance from a recently built garbage incinerator (dis). Interpret the coefficient on log(dist). Is the sign of this estimate what you expect it to be?
To assess the impact of those mergers,on industry on consumers and on society as a whole.
Which is most likely occur under a system of clearly defined and enforced private property rights.
BigBiz, a local monopsonist, currently hires 50 workers and pays them $6 per hour. To attract an additional worker to its labor force, BigBiz would have to raise the wage rate to $6.25 per hour. What is BigBiz's marginal factor cost?
John Paisley is planning to buy a house for $100,000 by borrowing money at the rate of 9%.
How do fixed costs play a role in your analysis? What is the difference between shutting down and going out of business?
What will happen in the international market for gold if news of war causes buyers and sellers to expect high gold prices in the future? Provide a brief narrative explanation.
Illustrate what would happen to total employment, the size of the labor force, and the unemployment rate? Show the results graphically.
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