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Soundscape Enterprises manufactures Sonoblast, a device that produces a high-pitched reminder to telemarketers that they have once again disturbed you just when you were sitting 1⁄2 down to dinner. The production function for Sonoblasts is given by the formula Q = 2KL where Q is in units of output per period, K is in machine-weeks per period, and L is in labour- weeks per period. The machine rental rate r is $512 per machine-week and the wage rate w is $128 per labour-week. In the short run, K is fixed at 4 machine-weeks per period. a. Give the formulas for the short-run production function and the marginal product of labour (MPL) function. b. Express variable cost (VC), total cost (TC), and marginal cost (MC) as functions of L and as functions of Q; and average variable cost (AVC), average fixed cost (AFC) and average total cost (ATC) as functions of Q. c. At what level of Q is ATC minimized? What are the values of ATC and of MC at this level of output?
Congress does not have enough votes to override a veto. Draw a tree for this game and ?nd the rollback equilibrium.
Engineering company just purchased a new CAD software for $8,000 now and annual payments of $500 per year for 6 years starting 2 years from now for annual upgrades. What is the present worth of the payments if the interest rate is 6% per year? Please..
Do you agree with Seligman's position on the importance of Well-being? Do you agree that PERMA is what will make you happy?
The demand curve for higher education in Tallahassee is P=120-2Q. Assume the only two colleges in town are FSU and FAMU. Each university faces the cost function TC=6Q. Both colleges get together and successfully collude to fix price at a profit maxim..
How does an increase in interest rates affect the present value of a future payment? How does an increase in the size of a future payment affect the present value of a future payment?
What effect should each of the following have upon the demand for portable music players in a competitive market? Explain your reasoning in each case.
q.suppose a country the total holdings of banks were as followsrequired reserves 45 millionexcess reserves 15
Elucidate each of the following statements using supply- and- demand diagrams. a. " When a cold snap hits Florida, the price of orange juice rises in supermarkets through-out the country."
Why does Michael Porter admonish companies will not change his competitive positioning any more regularly than once every four or five years.
Which pizza-baking oven would you select and why? State any important assumptions you make in your analysis.
The surplus cheese USDA buys is the difference between the quantity of cheese producers sell (212.5 billions of pounds of cheese) and the quantity of cheese consumers are willing to buy at the price floor. Taxes must be collected to pay for the purch..
Refer to real world solution in the chapter. Has crescent healthcare applied the three steps for the upgrading of legacy systems outlined in the chapter? Which of those have been done in more or less detail? can you fill in the blanks for any that yo..
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