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Q. A firm sells its production in a perfectly competitive market at a fixed cost of $10 per unit. It buys 2 inputs L as well as K at costs of $15 / unit as well as $50/ unit respectively as well as has following production function: Q=100L^0.3K^0.5.
a. By using calculus show that the production function exhibits diminishing returns to labor. Interpret your answer.
b. Currently show that if the same production functions also has diminishing returns to capital.
c. The return to capital as well as labor is same? Briefly clarify your answer.
If the price increases by 10 percent, by how much does the quantity of household (a) natural gas and (b) electricity change in the short run and in the long run?
Resizing them as necessary, to illustrate your analysis. In each case, Illustrate what are the short-run and long-run effects on the aggregate price level and aggregate output.
q1. find the equilibrium price and quantity after the shift of the supply curve.q2. a machine used to cereal boxes
q1. hillary proposes instead that she specialize in making clothing i.e. shell do all the clothing production for the
q1. a flat tax plan allows individuals to deduct a standard allowance of 10000 from their wages. assume that the flat
Include an example in which the government has used either economic or social regulatory activities. Illustrate do you agree with this regulatory activity.
Even among professional sport players, the salaries for players in some sports are generally significantly higher than the salary in some other sports. Elucidate how does this make sense using supply and demand in a market in equilibrium.
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launch services to commercial firms.
Calculate a marginal cost as well as an average cost schedule for the firm.
Illustrate what variables or than cost appears or have biggest impact on demand for McDonald's products. How much influence does company have over se variables.
Suppose that the government increases taxes and government purchases by equal amounts. What happens to the interest rate and investment in response to this balanced-budget change? Does your answer depend on marginal propensity to consume?
Which resource of production is the only one which nations can significantly increase in the short term.
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