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1. A small company produces a product (X) that requires two types of inputs, A and B during production. Each unit of X requires exactly 5 units of A and 2.5 units of B. If the cost of A is $10 a unit and the cost of B is $6 a unit, how much will it cost to produce X =100 units of output? In general, if the company needs X units of product, what is the total cost? What is the marginal cost of production? 2. A small company uses input labor L to generate an output Q, and the production function is Q = 0.25L2. The cost of labor L is $4 a unit. Find the company's total cost of producing output level Q. 3. A firm produces Q with the production function Q = 10K2 + 10L0.5, and K is fixed at 4 units. If the price of K is $5 and the price of L is $1, find the total cost of producing Q units of output? What is the marginal cost of production for the firm?
Find Louis' optimal consumption bundle of orange juice and pineapple juice each week. Suppose the price of pineapple juice rises to $2 a cup while the price of orange juice remains constant. How much additional income would Louis need to afford hi..
a monopolist faces a demand curve given byp 105 - 3q where p is the price of the good and q is the quantity demanded.
The price of coffee goes down and consumption of coffee increases. Is coffee an ordinary good. The price of coffee goes up and consumption of coffee increases. Is coffee an ordinary good. The price of coffee goes up and consumption of coffee remai..
explain why relatively flat as opposite relatively steep labor demand curves are more consistent with the empirical
How much money will be in a savings account at the end of 10years from deposits of 1000$ per month, if the account earns interest at a rate of 10% per year compounded semiannually?
an airline consulting firm as determined that the income elasticity for leisure air travel in china is 1.5. if incomes
Governmental sources (public programs) and private payers are just a few examples regarding sources of health care revenue. Medicare, Medicaid, and managed-care programs are some types of payers that make up the revenue source for health care orga..
a manufacturer of microwaves has discovered that male shoppers have little value for microwaves and attribute almost no
Launch the data file to get started. Print or copy the data table before continuing to step two. Determine a product market (a specific good or service) appropriate to the prices listed. Make this the title of your graph and data table.
Consider a company that uses two inputs. The quantity used of input one is denoted by x_1 and quantity used of input 2 is denoted by x_2.
What are automatic fiscal stabilizers? How do these stabilizers stabilize real GDP in the face of AD and AS shocks?
why is the concept of elasticity important? what does it tell economists? tell whether you would classify automobile
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