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Let us assume that Machineries are the only type of capital that is used in the production function of a competitive firm. We also assume that the price for the products that are sold by this competitive firm is set at $5. Given the production function below, compute the Marginal Product of Machineries (MPK) and the Value of Marginal Product of Machineries (VMPK).
Given your computation for part 4.3., determine the equilibrium quantity of machineries that are employed by this competitive firm when the marginal cost of installing new machineries is $2000.
What is the decision rule for this optimal firm-level employment?
All else equal, how would an increase in the price of the product which is being produced by this firm affect its demand for machineries?
All else equal, what would happen to the optimal employment of machineries should the marginal cost of installing new machineries declines due to, say, a tax reform?
Describe why a Keynesian approach to managing the macro economy might be appropriate while, at another point in time, a classical approach might be more likely to produce a superior outcome.
Putting the "Fun" Back in "Dysfunctional Families"
1. you are given the following information about the amount your company can produce per day given the number of
Determine the mariginal product. Determine the average product function. Find the value of L that maximizes QFind the value of L at which the marginal product function takes on its maximum value.
Compute the industry price necessary for firm to supply 10,000, 20,000, and 30,000 pounds. Compute the quantity supplied by the firm at industry prices of $1.50, $2.50, and $3.50 per pound.
in calculating the incremental cost of a particular project how would you treat the possible future costs of a lawsuit
Are there other Nash equilibria of this game?
Suppose that there is a bond that will pay $500 for each of the next three years (the first payment is one year from now). At the end of three years the bond matures and the holder receives the $10,000 face value of the bond. If the market ra..
draw an ad-as diagram representing the u.s. economy in a recession. also draw a diagram of the u.s. labor market in the
Mr. and Mrs. Ward typically vote oppositely in elections and so their votes "cancel each other out." They each gain two units of utility from a vote for their positions (and lose two units of utility from a vote against their positions). However, ..
In the 1970s, savings and loan associations primarily earned their income from extending fixed-rate home loans. They extended many of these loans in the early 1970s when inflation was low. Were the savings and loans winners
1. gary and diane must prepare a presentation. as part of their presentation they must do a series of calculations and
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