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1. Suppose a firm’s production function is given by Q = 2KL, where K is capital and L is labor. What is the marginal product of labor when 4 units of capital are employed?
2. The marginal product of labor in the production of computer chips is 50 chips per hour. The marginal product of capital is 100. The marginal rate of technical substitution of hours of labor for hours of machine capital is?
3. A widget company firm hires labor and rents machines to produce its output. The hourly wage rate is $10, and the rental rate of machines is $50. In equilibrium, the marginal product of labor is 300 units of output per period. The marginal product of machines is
4. A manufacturer of lasers reports that the marginal product of labor is 60 units of output per hour of labor and that the marginal rate of technical substitution of labor for capital is 3/2. The marginal product of capital is
q.read through the budget speech presented by the minister of finance on 22 february 2012. explain in detail whether
Explain in your own terms what is meant by a "Point of diminishing returns." Relate it to cost, effort, and return on investment.
When organizations develop risk management plans, they need to consider the value of the assets being protected and the controls that are needed to mitigate the risks in a cost-effective manner.
q1. assume you are part of a research team evaluating a proposal to clean up a dangerous squander site. you are in
As a matter of fact you have found several of these to be below minimum wages in your state. Discuss if dropping the observations is reasonable.
Elucidate the underlying experiment of interest when we want to examine the effects of cigarette smoking on workdays lost.
q. 1. what change in the federal funds rate would you recommend?2. how would your recommended change get
Suppose that there are 150 houses in the community with 2,000 square feet (providing services that rent for $10,000 per year). The interest rate is 4% and with proper maintenance all of the houses will last forever. In an election the population deci..
Compare he rates of core and headline inflation for the most recent months and the past year
q1. explain why do some economists consider that better inventory control software as well as systems might help to
Use your own example in order to illustrate these concepts. Can the marginal utility from a product be negative? If yes, give an example.
Use an indifference curve-budget line analysis to depict the situations, prior to the ban on smoking, of a student who smoked on campus, and of a student who did not smoke.
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