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Suppose a firm with a production function Q = KL (where MPL = K and MPK = L) is producing 125 units of output by using 5 workers and 25 units of capital. The wage rate (W) per worker is $10 and the rental rate per unit of capital (R) is $2. What happens to the firm's long-run average total cost if it decreases output to 45 units?
company a is a producer of widgets in a monopolistically competitive market structure. it is projected that as more
Evaluate the role and scope of government in market economies versus command economies and discuss why nations trade, as well as valid and invalid arguments for restraints to free trade.
Barack Obamas presidential campaign grassroots organizing effort using the Internet's variety of social-networking tools is considered.
Find the amount of the transfer implied by consultant B and determine whether the consumer is better or worse off from Consultant C's suggestion than before the price increases.
Calculate the following for Brian and Kim's firm
Each car manufacturer undertakes dynamic advertising campaigns seeking to persuade prospective buyers of the superior quality and better style of his cars and reacts very quickly to claims of superiority by his rivals.
A circular flow diagram that includes the government sector. For this part of your paper, you should include a description of the roles that each participant plays in the economy and how the different sectors interact in the markets.
Economic theory offers ______ about the full range of possible events and responses, which can prevent _______ about how households will respond to changes in prices or incomes.
Find a media article on tax legislation (passed or pending) and evaluate that legislations's effect on (1)the economy and (2) taxpayers standard of living and (3) taxpayers feeling about this legislation, and (4) the effect of the legislation ..
Game Theory: Two friends who are students of an Econ class got hold of the answer key to the graded homework problems. Suppose that over the quarter, the Professor poses two graded homework assignments. Since these homework assignments are very diffi..
The publisher of a new book figures fixed cost at $92,000 and variable cost at $2.10 for each book produced. If the book is sold to distributors for $15 each, how many must be sold for the publisher to break even?
College students sometimes work as summer interns for private firms or for the government. Many of these positions pay very little or nothing.what is the opportunity cost of taking such a job.
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