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!
A firm has the production function x = f (L) , where x is output and L is labor input. The firm buys the input in a competitive market.
(a) Assuming the firm sells its output in a competitive market, show that setting output where price equals marginal cost is equivalent to setting labor input where input price equals marginal value product.
(b) Assuming the firm is a monopoly, show that setting output where marginal revenue equals marginal cost is equivalent to setting labor input where input price equals marginal-revenue product.
(c) What restriction do we have to impose on the production function to ensure the second-order conditions in problems (a) and (b) are satisfied?
Explain the concept of comparative advantage and the principle theories of why trade occurs and analyze and discuss the sources of comparative advantage in national economies.
q1. elucidate average costs are minimized when marginal costs are at their lowest point.q2. the provide side economics
how many pineapples will she consume? If her income increases to $120, how many grapefruits will she consume? Are grapefruits a normal or inferior good?
Which computer software package should the firm's human resources office use to manage the payroll?
Consider the following: “In 1973 several major oil producing countries formed a cartel. The cartel effectively decreased the supply of crude oil. Gasoline prices rose sharply as did the total expenditures on gasoline.” Use a supply/demand diagram of ..
What is the future worth of $ 1000 in month 1, $1,040 in month 2, and amounts increasing by $40 per month through month 12, at the end of year 2 if the interest rate is 23.7631528% per year, compounded continuously?
In the classic introduction to non-cooperative game theory, the mixed strategy for a player is taught as a distribution over strategy space for the player. The distribution essentially gives us the probabilities (say, discrete strategy set) with whic..
Assume a good where its equilibrium price is 40 and its equilibrium quantity is 3.0 units. Compute the supply surplus when price is 60. Take into consideration that the elasticity of supply is 1 and the elasticity of demand (-1)
What is monetary policy and who is responsible for its implementation? What is the central bank and what does it do? What are adverse selection and moral hazard?
q1. most restaurant customers tip according to a percentage rule between 15 and 25 percent of the bill. diners who have
Suppose demand and supply are given by Qd = 40 - P and Qs = 1.0P - 20. What are the equilibrium quantity and price in this market? Equilibrium quantity: Equilibrium price: $ b. Determine the quantity demanded, the quantity supplied, and the magnitude..
How many cases of Robert Mondavi Private Select were sold each year from 2005-2008? a. Construct a table showing the total number of cases sold each year. b. Construct a bar graph showing the total number of cases sold each year. What is the trend in..
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