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1. A company uses two inputs to produce a final good. If the price of one of the inputs increases and the price of the other remains the same, how will this affect the firm's production isoquants? Its isocost line? Its use of the two inputs?
2. Given the total cost equation: C = 32 + 2Q^2, derive equations fora. Average total cost.b. Average variable cost.c. Marginal cost.d. Average fixed coste. What level of Q yields the minimum level of total average cost of production?
Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.
Would the reward system vary among retailers, manufacturers, distributors, financial organizations? What other characteristics should good performance incentives have?
The Alex Corporation uses two inputs, A and B, to produce boats. The production function for boats is given through
Rochester Metro Area was hit with a major ice storm in 2003. Suppose that before ice storm of 2003, the weekly demand and supply for ice in the Rochester Metro Area were given by following equations:
A new manager recently was given an project to make two possible wage schemes for a design firm. The manager came up with the following packages:
Consider a manufacturer with 2-factories. They can make at either factory or both. However, we need to consider the quantities that will be produced at every factory.
The Manager of your corporation pension fund is compensated based entirely on fund performance; he received over $1.2 million last year.
Draw the individual cost curves on one graph: marginal cost, average total cost, average ?xed cost, and average variable cost. Place costs ($) on the y-axis and quantity (Q) on the x-axis.
Suppose ZCorp has following short run production function Q = 50X - 2X^2 where X is the only variable input used by ZCorp to product its product, Q.
The table below demonstrate the demand for Fidgets over an eight month period. Calculate a four-period moving average forecast for September.
According to the chief engineer at the Zodiac Corporation, Q=AL^a K^b, where L is the rate of labor input, Q is the output rate, and K is the rate of capital input.
At several universities and colleges, business professors receive higher salaries than professors in others fields. Why might this be the case?
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