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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?
if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function
A company is selling a particular brand of tea and wishes to introduce a new flavor. How will the company forecast demand for it.
PHILLIPS CURVE The Phillips curve, named after A. W. Phillips, describes the relationship between unemployment and inflation. In 1958 Phillips, then professor a
Fandem Technology manufactures two products using a joint process. The cost of materials going into the joint process for a typical period is $55,000, while labour and overhead to
define scarcity and oppurtunity cost.show how these concepts are useful in managerial decision making
Illustrate the application of economic theory to some business problems
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
Average Propensity to Consume The average Propensity to Consume [APC] is defined as the fraction of aggregate national income which is devoted to consumption. If consumptio
Write a detailed note on the planning and development of Management Information Systems
The Spendthrift Economy This assumes a circular flow of income in a closed economy with no Government sector and no foreign trade. It also assumes the existence of two sect
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