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Find the output levels where total product and average product are maximized. What is marginal product when total product is zero?
Write down a formula that describes the marginal product of labor in the short run as a function of the amount of labor used.
Use the 2007 numbers in the first column to compute, for each of the four countries, the percentage gap between the steady-state ratio.
Illustrate what alternative decisions might you be able to make in the long run. Explain in 1 to 3 pages Clearly explain the factors of consider as your "Fixed Factor" and alternative short term and long term decisions.
Explain how many spots of each kind should it purchase to meet se three goals and do so at minimum cost.
studies on the comparative work habits of the wealthy tell a different story. Research by professors Mark Aguiar. Explain which wealthy person has reservation wage.
Illustrate what is the reorder point for part if the reorder point is expressed in terms of the inventory on hand rather than the inventory position.
Defenders of communist economic systems may point out that consumers pay lower prices for certain goods because the government imposes a limit. Cite at least two other ways which consumers may be paying for these goods
Consider the general equilibrium model on local public goods that we discussed in class. We found that the optimal population size
the firm will earn $15,000 if it introduces the new product, and revamping the production facilities will earn new profits of $60,000. What should the manager do.
A businesses strategic choices are limited by economic conditions. When you arrive at strategy class, you will be asked to perform an environmental analysis.
Talk about why a government may want to impose price control. But in this case, does the Mugabe government achieve its intended purpose
explain using an example of relevant cost (a cost whose value does affect the optimal decision) and an example of irrelevant cost.
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