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Consider the following problem
max II (profit) (K,L)=Pf(L,K) - wL - rK
where P,w and r are exogenous. Show that maximizing prot implies cost minimization.
Mention five ways you are affected on a daily basis by government intervention in the market. For what reason might government be involved? Is that reason justified?
a.In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets. b.Cite as many examples as you can of these types of businesses.
Discuss how payment systems have evolved over time to reduce transactions costs and predict how technological advancements will continue to reduce transaction costs in the future. Provide specific examples to support your response.
What will be the equilibrium price? What will be the equilibrium output for the industry? For each firm? What will profit or loss be per unit? Per firm? Will this industry expand or contract in the long run?
Five Companies sell pez candy and differentiate in terms of customer service and flavors
Describe an example of risk calculation found on the web and what risk calculation technique is illustrated by your example? Would you have employed a different risk assessment technique than used in your example, and why?
What two policies could you use to reduce the total amount of emissions and why do you think they each would work?
Total cost and total variable cost are parallel, yet average total cost and average variable cost are not parallel. Demonstrate mathematically that ATC and AVC are not parallel.
Explain why it is important to uncover causal relationships for policy analysis. Also explain the causal methods of regression, difference-in-difference and random assignment
An orange goes through four major steps on its way from grove to grocery store at the Sunkist Citrus Processing Plant in the southern San Joaquin Valley: washing, waxing, grading (inspection), and packaging. The facility's production technology can b..
Suppose a medical study reveals new benefits to consuming beef, and at the same time a bumper corn crop reduces the cost of feeding cattle. The equilibrium quantity of beef will stay the same.
Industry studies often suggest that firms may have long-run average cost curves that show some output range over which there are economies of scale and a wide range of output over which long-run average cost is constant.
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