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Q1. Consider a firm as we did in the notes that maximizes it profits by selecting how many workers and how much capital to use. For this problem, set P = $1, W = $10, A = 10/.7, r = .01, pk = .01, d = .1, and K = 5. Use the Cobb-Douglas production, so that revenue for this firm is PAK.3L.7.a. Elucidate the no. of workers would this firm hire? Allusion is being sure that you compare the added benefits and added costs of each worker when the Cobb-Douglas production function is used.b. If K rose to 7, would this firm hire more or fewer workers? Why?
Q2. It appears that your best income earning opportunity is to be an offer to work for a local developer during the month of June and earn $2000. Nevertheless as before pleasing the job, you admit a surprise offer from a competitor. Elucidate how much producer surplus have you earned, if you actually earn $2600 during the month?
Illustrate what specific factors might have accounted for this event.
State the essential difference between the classical and Keynesian schools of thought. If you were a public policymaker and received conflicting advice from a classical and a Keynesian economist, how would you choose? Explain.
austria has a history of strong hostility to nuclear power and over the last twenty years the austrians have shut down
What do you think he would suggest as an economic plan for our economy. Would they agree or disagree with the current policies.
illustrate the effect of capital formation by comparing the product posibility curves,at the present time and ten years in the future for two economies,one with a high and the other with a lowrate of capital formation.
How does the AICPA Code of Professional Conduct relate to ethics? Provide examples to support your response.
Elucidate why does strong mono tonicity implies local non satiation but not vice versa
Why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
A wave of day laborers with experience in home construction moves into the area. Will this shift the labor supply curve, demand curve or both in home construction.
One important difference between an entrepreneurs also a manager is which the former gets into a market before demand increases, while the later gets into the market after the shift.
Illustrate what does the evolution of Coke's strategy tell you about the convergence of consumer tastes and preferences.
What is the probability (±0.001) that the next customer pays at least $30? What percent of customers who pay at least $30 pump premium? % (Round your answer to the nearest whole number.)
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