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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?
Ajax has the following short run cost curve when tc=800000-5000Q+100Q2
ISOQUANT ANALYSIS In the long run it is possible for a firm to produce the same output using different combinations of two factors of production. For instance it the two fact
Question: i) If X and Y are different processes producing the same commodity and the joint total cost (TC) is given by: TC = X 2 + 2Y 2 - 3XY Using Lagrange Multiplier,
I have a research paper that is due, my schedule is so full that I need assistance due to overload are you interested in the research paper? course - managerial economics TEXT: Man
WAGE DETERMINATION, POLICY AND THEORIES Wages and salaries are rewards to labour as a factor of production of goods and services. In ordinary speech a distinction is frequent
Classification of oligipoly
what is profit appropriation
The Historical development of money For the early forms of money, the intrinsic value of the commodities provided the basis for general acceptability : For instance, corn, s
introduction, evaluation,principle, activities concept behind Gatt & wto
THE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS) One of the most important and fundamental principles involved in economics called the law of diminishing return
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