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Suppose that the production function for a commodity is given by Q = 10√LK
Where Q is the quantity of output, L is the quantity of labor, and K is the quantity of capital. (a) Calculate Q when L=1 and K=1, and L=2 and K=2, then indicate whether this production function exhibits constant, increasing, or decreasing returns to scale. (b) Given K=1, show the change in Q if L changes from 1 to 2, and 2 to 3, and does the production function exhibit diminishing returns? If so, when does the law of diminishing returns begin to operate? Could we ever get negative returns?
Identify & describe two different roles that interest rates play in the economy. Does a change in an interest rate indicate that a change in some part of the economy is occurring Explain.
What is the South African government providing?
Determine the equations for AFC (average xed cost), AVC (average variable cost), ATC (average total cost), and MC (marginal cost). Graphically illustrate the relationships to one another. EMBA 504: Strategic Competitive Analysis
The loan office of the bank has just called Ms. Firth to mention another financing possibility-the graduated payment mortgage. Terms, interest rates, and fees are the same as a normal mortgage. However, by lowering the payments in the early years,..
choose any one topic out of the followingnbspbull waternbspbull energynbspbull agriculturenbspbull forestnbspassignment
write a report based on the podcasts & the news article in the text and a critique as well (do you agree with Mankiw's view that "Consenting adults should be able to make economic trades
Originally the consumer faces the budget constraint p1x1+p2x2=m, then the price of good 1 doubles, the price of godd 2 becomes 8 times larger and income becomes 4 times larger. what are the effects of the changes on the budget line.
Jane receives utility from days spent traveling on vacation domestically (D) and days spent traveling on vacation in a foreign country (F), as given by the utility function U(D,F) = 10DF. In addition, the price of a day spent traveling domestically i..
Examine the factors that determine the price of computers in a free market.
What is shirking? If the managers of a firm are attempting to maximize its profits, will they have an incentive to limit shirking? How might they go about doing so?
1. a politician was recently quoted as saying our country can only reach full employment by raising the minimum wage
Draw and explain the parts of a PPC. Draw a PPC for country Nambi and assume that the economy produces only computers and automobiles. Suppose now that there is a new technological breakthrough in the production of computers.
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