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Suppose the production function is Cobb-Douglas, y = x 1/2 1 x 3/2 2 .
(a) Write an expression for the marginal product of x1 at the point (x1, x2). Is it an increasing, decreasing or constant in x1?
(b) Write an expression for the marginal product of x2 at the point (x1, x2). Is it an increasing, decreasing or constant in x2?
(c) What is the technical rate of substitution?
(d) Does this technology demonstrates increasing, decreasing or constant returns to scale?
Explore in particular Elucidate how the two companies' respond to the macroeconomic conditions in terms of their.
How does advertising become unethical? B- What steps must each part of the advertising "communication" process take to ensure that it remains ethical
The single price monopoly faces a demand curve of p=90-Q and a constant marginal (and average) cost of m=$30. Find the profit maximizing quantity (or price) using math. Determine the profit, consumer surplus, welfare, and deadweight loss.
AZ approved 98 patients for organ transplants, but those patients have been told they can no longer receive transplants because of budget cuts. The state is facing a $1.5 billion budget deficit and has cut all of their state-funded lung transplants a..
In the absence of a binding and enforceable agreement, determine the dominant strategy for AMC. c. Determine the dominant strategy for SAMI. d. If the two firms can enter into a binding and enforceable agreement, determine the strategy that each fi..
The Federal Reserve attempts to keep prices stable and unemployment low. Is there are a contradiction in these objectives? Describe the monetary policy tools that are available to the Federal Reserve to achieve these objectives.
q1. suppose that the first week of summer jenny charged 25 cents for an 8-ounce cup of lemonade her next-door neighbor
Why do members of the House and Senate follow complex, arcane rules and precedents in processing legislation even when such devices keep majorities from getting their way?
A machine, purchased for $45,000, has a depreciable life of 4 years. It will have an expected salvage value of $5,000 at the end of the depreciable life. Using the straight-line method, what is the book value at the end of year 3?
Suppose a monopolist is producing a level of output such that MR > MC. Which of the following best describes what will happen as the firm moves to its profit-maximizing equilibrium? Select one: a. Marginal revenue will rise and marginal cost will fal..
Elucidate reason for both wage and cost rigidities including policy implications for se rigidities. Would you conclude on se reasons suggested by New Keynesian economists as relevant to unemployment situation in South Africa.
Two companies compete for a share of the soft drink market. Each worked with an advertising agency in order to develop alternative advertising strategies for the coming year (e.g., a variety of television advertisements, product promotions, in-sto..
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