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Frisbees are produced according to the production function: q= 2K + L where q=output K=capital input per hour L=labor input per hour a) If K=10, how much L is needed to produce 100 Frisbees per hour? b) If K=25, how much L is need to produce 100 Frisbees per hour? c) Graph the q=100 isoquant. Indicate the points on that isoquant defined in part (a) and (b). What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant.
Consider an income guarantee program with an income guarantee of $6,000 and a benefit reduction rate of 50%.
Illustrate what do they mean efficienty level of output. If the government were to build the bridge, what price should it charge.
In the state of Florida ,data that is commonly used in health services systems. This includes census data, vital statistics data (birth, deaths, marriages, and divorces), surveillance data, administrative data, and survey research data. Which office ..
Saudi Arabia has a competitive advantage in the production of crude oil over the United States. Indonesia has a competitive advantage in the production of Nikes over the United States. Do you agree or disagree with these statements? Why? Explain the ..
Suppose that the long-run world demand and supply elasticities of crude oil are -0.906 and 0.515, respectively. The current long-run equilibrium price is $30 per barrel and the equilibrium quantity is 16.88 billion barrels per year. Next, suppose the..
q1. during a war the government puts pressure on producers for heavy equipment supplies and services making each more
What are “health disparities”? Why are they important? What makes them worse? What makes them better? What can we do to address them?
If you know that the marginal utility per dollar spent on product Alpha is less than the marginal utility per dollar spent on product Beta, consumers who spend all their income on these two products can:
How do you apply governmental intervention into game theory and its applicability to market behavior? Is governmental intervention predictable and probable?
Discuss the major causes of global warming, the expected effects providing an indication of which effects are likely to be the most important economically, and identify the greatest uncertainties surrounding global warming.
Consider the following simple model with investment and government spending exogenous:
Two alternative designs are under consideration for a tapered fastening pin. The fastening pins are sold for $0.70 each. Either design will serve equally well and will involve the same material and manufacturing cost except for the lathe and drill op..
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