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Consider the production function Q=L1/2+K2.a)What is the expression for METAL,K given this production function?b )Does this production function exhibit diminishing marginal product of capital? Explain how you know.c) Does this production function exhibit diminishing marginal product of labour? Explain how you knowd) Does this production function exhibit diminishing marginal rate of substitution (L for K)? Explain how you know.
Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas
According to the National Bureau of Economic Research, a poor family is the one whose income falls below one-half of the median family income. Using this definition of poverty, answer the following questions. a) How, if at all, would the proportio..
Jamaica is the 4th largest island nation of the Greater Antilles.It is situated in the Caribbean Sea south of Cuba, and west of Hispaniola, the island containing the nation-states of Haiti and the Dominican Republic. Jamaica is the 5th largest isl..
College education provides higher income for the individual, but also a more productive and more educated person who will contribute to society in many ways. Carbon dioxide emissions are thought to contribute to global warming, and there is concer..
Changes in price do not always impact demand to the same degree, and in some cases change in price impact demand very little. Such goods are said to have relatively inelastic demand.
What would happen to the equilibrium price and quantity of lattes if the cost to produce steamed milk, which is used to make lattes, increased, and scientitsts discovered that lattes cause heart attacks
Discuss how is it possible to change society, for Marx, through using relationship between economy on the one hand and the political environment on the other.
Fall proportionately more than the change in GDP, Fall proportionately less than the change in GDP, Rise proportionately more than the change in GDP
Is your explanation consistent with the fact that franchised tutoring services often charge a fixed royalty per student enrolled?
A staff member proposes raising the payroll tax paid by firms and using part of the extra revenues to reduce the payroll tax paid by workers.
Almost all of the fossil fuels that we are now currently using were formed during the Carboniferous period. (b) There seems to be a strong correlation between increases in the availability of food energy per person and increases in human populati..
Explain the rationale for government regulation of companies with market power. Is regulation in the customers interest or in producer's interest and how might this control special interest groups?
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