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A firm has a production function of the form Q = K (1/2)*L (1/2) where the (1/2s) are the exponents. What is the output if the firm uses 9 units of labor and 4 units of capital? If the firm doubles its input levels, what happens to the level of output? Does this firm's production function exhibit constant, increasing, or decreasing returns to scale?
A firm uses two inputs into production: capital and labor. In the short run, the firm cannot adjust the amount of capital it is using, but it can adjust the size of its workforce. What happens to the firm's average total cost curve, the average va..
Would you expect the price elasticity of demand to be higher for financial-aid students or for non-aid students? Why and how does a student's income elasticity affect the demand for higher education at College?
Analyze the process of forecasting foreign-exchange rates and create a short list of best practices. Explain your rationale for selecting the practices you did.
a company has been in the business of selling canned apples for the last thirteen years. the initial price of the apple
we saw that exports from china have effectively lowered relative wages for unskilled and semi-skilled workers in
what is the relationship between average and marginal productivity? what would happen to average and marginal
consider a potential voluntary exchange between two people. assume that both have complete info about each others
Explain why hyperinflation has such a devastating impact n economies. Explain what it takes to stop hyperinflation Describe the three types of unemployment. What types of government programs would be most effective in combating each type of unempl..
Suppose all iPod owners consider only two options for downloading music to their MP3 players: purchase songs from iTunes or copy songs from friends' CDs. With these two options, suppose the weekly inverse market demand for the Rolling Stones' song..
Also, assume that the current Federal funds rate is at the 3 percent rate that is targeted by the Fed. Now suppose that the Fed retargets the rate to 1.5 percent. By how much will the quantity of Federal funds have to change for the equilibrium to ..
The coach wants to help Omar and has asked him to lead the prayer at the next game. Omar is nervous about whether he should say a Christian prayer or a Muslim prayer. He is also concerned about how to respond to the invitations to attend church.
consider the following model i c 1500 mpc y - tyii i 800iii g 500iv x - m 500 - mpi ywheret the flat tax
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