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1. What is the marginal rate of technical substitution? What does it imply about an isoquant's shape?
2. What does the curvature of an isoquant imply about the two inputs, capital and labor?
3. What is an isocost line? What does its slope tell us about the relative cost of labor and capital?
4. How will a firm react to an increase in the price of one input relative to another?
Len's body board factory pays $60 a day for equipment and $200 a day to each student it hires. Table 1 sets out Len's total product schedule.
introduction what is this report aboutwhy has it been writtenwhat will this report showwhat are socially desirable
We can analyze the motion in each coordinate direction independently,integrating the acceleration to determine the velocity and then integrating the velocity to determine the position.
In the absence of participation incentives, will a confused student ask a question when it would be socially efficient to do so?
In the economy of Scottopia in 2008, exports equaled $400 billion of goods and $300 billion of services, imports equaled $500 billion of goods and $350 billion of services, and the rest of the purchased $250 billion of Scottopia's assets.
What were the immediate causes of the "Great Recession"? What were the longer-term trends that hinted that a dangerous economic imbalance might be building?
Graph the functions and find the equilibrium price and quantity by equating demand and supply
The deadweight loss of a tax is the area of the triangle between the supply and demand curves. Solve for the deadweight loss as a function of T. Graph this relationship for T between 0 and 300. (Hint: Looking sideways, the base of the deadweight l..
1. Explain why, at a Cournot equilibrium with two firms, neither firm would have any regret about its output choice after it observes the output choice of its rival. 2. What is a reaction function? Why does the Cournot equilibrium occur at the poi..
a. Calculate the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 grade point average (GPA) rather than a 2.0 GPA. b. Is the opportunity cost the same for a move from a 0.0 GPA to a 1.0 GPA as it is for a..
Which of these colonies became more like "Creole societies," and why? Were these colonies more similar or more different, and why?
The year is 2020 and the U.S. airline industry has been radically transformed through a recent wave of mergers. Only one company, MONO Airlines, has managed to survive the succession of price wars, labor-management disputes, and government policy rev..
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