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A toy manufacturer makes output according to the production function:
where n is the number of workers employed by the firm, O is a technological parameter and g the workers' effort cost parameter. Assume the firm is profit maximizing.
a) Assume the firm sells its products at a price p and pays its workers a fixed salary w. What is the optimal number of employees the firm should hire?
Infant Industry Argument Advocates of this maintain that if an industry is just developing, with a good chance of success once it is established and reaping economies of sale,
Describe ramsey pricing with detailed examples
In regards to air pollution, use a diagram to show and explain how the existence of pollution can make the market equilibrium inefficient.
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Q. Construction of the causal model - regression analysis? The construction of an explanatory model is a crucial step in the regression analysis. It should be defined with refe
Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant
You're standing at three light switches at the bottom of stairs to the attic. Each one corresponds to one of three lights in the attic, but you cannot see the lights from where you
Types of Income Elasticity of demand Depending upon the product, demand might increase or decrease in response to a rise in income. There are thus five types of income Elasti
demand for sting ray
Explain how a product would reach equilibrium position with the help of -iso-quants and iso-cost curve.
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