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Suppose two firms have the respective production functions: Firm 1: q=LK Firm 2: q=0.9LK
a. Find the marginal product of labor and capital for each firm.
b. For a particular level of labor and capital, how do the marginal product of labor and marginal product of capital differ between firms?
Differentiate between Anticommunsim and McCarthyism , the perpective from which the media in 1947 to 1954 covered anticommunism and McCarthysim, american forgein policy desion impact anticommunism
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Suppose you are a monopolist operating two plants at different locations. Both plants produce the same product; Q1 is the quantity produced at plant 1, and Q2 is the quantity produced at plant 2. What are your marginal revenue and marginal cost funct..
Which of the following items are not considered resource costs even though they are counted as income paid to persons?
How does one assess and determine the performance of an economy (any economy)? And more specifically, what criteria are commonly used to do so?
Assume a two-country world with two factors of production (capital and labor) and two goods. In this context, state the Heckscher-Ohlin theorem. Then indicate the two definitions of relative factor abundance. In addition, spell out what is meant by t..
The government has decided that the free market price of cheese is too low. Suppose the government imposes a binding price floor in the cheese market. Draw a supply and demand diagram to show the effect of this policy on the price of cheese and the q..
Which of the following statements regarding a monopolist is false? The marginal revenue curve lies below the demand curve for the monopolist's output. Unlike a perfectly competitive firm, a monopolist faces little or no competition. The monopolist se..
Economic inequality compares the share of the _____ in society that is received by different groups; such as comparing the share of income received by the _____ to the share of income received by the ______.
The market demand for another product you are considering selling is Q(p) = 100 ? ( 1 )p and as the 2. only producer of this product your production costs would be C(Q) = 40Q. Given these market characteristics, what is the Lerner Index equal to (as ..
Based on your answer in a and b, how can you reconcile the President's statement with economics? Can you suggest how his statement could be modified to be consistent with teh IS-LM model?
Describe a positive or negative situation arising from an organization structure within an internationalcompany. Explain why a good organization structure is important to companies.
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