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The conductivity K in the derivation of Eq. 8.3.10 was assumed constant. Let K be a function of x and let C and ρ be constants. Write the appropriate describing equation.
Do you attribute this view as contributing to disasters such as the Brazil case or do you attribute the profit motive, a key characteristic of capitalism as having a large impact on how organisations operate within their environments?
If the price of pork chops falls from $8 to $6, and this leads to an increase in demand for apple sauce from 100 to 140 jars, what is the cross price-elasticity of apple sauce and pork chops at a pork chop price of $6
Contrast the results on convergence from the diffusion theories with those from the Ramsey model. Is it feasible to distinguish the theories empirically? If so how?
Derive the expression for the marginal rate of technical substitution for thisproduction function.(f ) If α = 0.3, the price of capital is $10 per unit and price of labor is $15 perunit, what is the cost-minimizing ratio of capital to labor.
(Rationale for Rules) Some economists call for predetermined rules to guide the actions of government policy makers. What are two rationales that have been given for such rules?
A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units, Picture , where Price = the price of a unit (in $thousands), Size = the square footage (in square feet), View = a dummy varia..
Question: Is it always necessary for government to intervene and internalize the profit and the cost externalities? Illustrate your answer using a real world example.
Montana is home to a number of firms offering wilderness hunting experiences to wealthy city dwellers. However, the profits of such firms depend on how crowded the "wilderness" is and how many deer are available.
Use your direct demand function to construct an equation and column for TR. What is the total-revenue maximizing price and quantity, and how much revenue is earned there? Compare that to the TR when P = $83 and P = $70.
You are considering opening a new business to sell golf clubs. You estimate that your manufacturing equipment will cost $100,000, facility updates will cost $250,000, and on average it will cost you $80 (in labor and material) to produce a club.
Environmental protection programs are frequently designed to require all polluters to cut back emissions by a certain percentage. What are the perverse incentives built into this type of program?
The Jenkis Tool Company estimated the following demand equation for it's product: QD=12,000-4,000 P Where P=price/unit QD=quantity demanded/year The firm's total costs are $4,000 when nothing is being produced.
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