Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The Ascot Corporation, which produces stationery, hires a consultant to estimate its production function. The consultant concludes that Q = 0.9P + 0.06L where Q is the number of pounds of stationery produced by Ascot per year, L is the number of hours of labor per year, and P is the number of pounds of paper used per year.
a. Does this production function seem to include all the relevant inputs? Explain.
b. Does this production function seem reasonable if it is applied to all possible values of L? Explain.
c. Does this production function exhibit diminishing marginal returns?
Provide a short example of how the law of diminishing marginal utility applies to a real-life situation. In your answer, explain why utility from consumption of these specific good or service increases quickly initially, peaks, and may eventually lea..
Suppose that $2700 is set aside each year and invested in a savings account that pays 10% intrest per year, compounded continuously. Determine the accumulated savings in this account at the end of year 24
q1. individual has a utility function described by the equation u2xv. the price of x is 32 every item whereas the price
Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbour, Friday, is a fisherman, and is willing to trade 2 fish for every coconut that you are willing to give him. Another neighbor, Kwame, is also a fisherman, and he i..
By using an AD-AS model (Keynesian), what are the effects of a recession (which was caused by a decrease in aggregate demand). Assume economy started at general equilibrium. Label your graph. What two options would you have as the chairman of the Fed..
q.assume that each criminal i has the following utility function uibo-fo2 where onumber of crimes committed bper unit
Consider an initial stock of 5000 tons of high grade ore. The demand function for this ore is P = 2400 – 0.2Q (Q is measured in tons/year), and the cost of extraction is constant at c = $200/ton. The discount rate is r = 0.10. Recalculate Q0, Q1, p0,..
Explain how the price-specie-flow mechanism operates to maintain balanced trade between countries. What are the assumptions that are critical to the mechanism's successful operation?
Your company manufactures controllers used in the production of commercial air conditioning units. Your current price is $50 per controller. At that price the total quantity demanded is 4,000 spread over a large number of small customers. Would you r..
A large induced-draft fan is needed for an upgraded industrial process. The motor to drive this fan is rated at 100 horsepower, and the motor will operate at full load for 8,760 hours per year.
Your bank has total assets of $220 million and a capital-to-total assets ratio of 7 percent. You learn that your bank’s entire $20 million loan package to Central American nations will be written off as bad loans. Will your bank survive this crisis? ..
Suppose nominal GDP in 1999 was $100 billion also in 2001 it was $260 billion. Illustrate what is the own-price elasticity of demand.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd