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The BlackBerry production function is Q = 2.83L1.52K0.82. Epple et al. (2010) estimate that the production function for U.S. housing is q = 1.38L0.144M0.856, where L is land and M is an aggregate of all other mobile, non-land factors, which we call materials. Haskel and Sadun (2012) estimate the production function for U.K. supermarkets is Q = L0.23K0.1M0.66, where L is labor, K is capital, and M is materials. What kind of returns to scale do these production functions exhibit?
Discuss how accounting costs and economic costs differ. Illustrate how total profits change as output expands. Describe how the profit-maximizing rate of output is found.
Illustrate what price should he charge each group if he needs to maximize revenue collected from ticket sales.
Outline the differences between active and passive policy and explain how the two approaches differed in their assumptions about how well the economy works on its own.
Draw your budget constraint assuming that you pay no taxes (and receive no subsidies) on your income. On the same diagram, draw another budget constraint assuming that you receive a 20 percent subsidy (that is, for every dollar you receive in labor m..
q.in the united states private schools charge tuition and compete against private schools that do not. one policy
Choose on which market structure that these businesses fit - monopolistic competition, perfect competition, and oligopoly also monopoly.
question 1 the economic surplus of a particular action is answer the value of the action the cost of the action
Depict the von Neumann-Morgenstern utility index u in a diagram
It is always better to hire a more qualified and productive worker then a less qualified and productive one regardless of cost.
An individual consumes only two commodities X and Y. She prefers a bundle B1 with 6 units of X and 2 units of Y to a bundle B2 with 4 units of X and 7 units of Y. Also, she prefers a bundle B3 with 2 units of X and 8 units of Y to B1. Are these prefe..
Will I be better or worse off as a result of taking out this loan. Can you create a case for legalizing loan sharking.
Illustrate what is the effect on the marketplace for an hour of babysitting services in Middling today, during this increased birthrate.
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