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a) The production function of certain firm is given as
Q = 40 K1/2 L 3/4
A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maximize output subject to it spending Kshs 5000. Determine the number of units of capital and labour it should hire.
a) Supposing the firm in (a) is set to produce 400 units of the product, determine the number of K and L that the firm should hire so as to achieve this objective.
Problem: (a) Define money and briefly explain its core functions. (b) Explain the relationship between interest rate and price of bonds, illustrate using example. (c)
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A farmer produces maize according to the following production function Q m = AK 1/3 L 2/3 Where Q m is output of maize, A = land, K = capital and L = labour Given that
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derivation of demand funcation using indifferance curv ordelreay and competed demand curv
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1. Select a data series that you wish to forecast. Make sure that it has some importance to you relative to business, future occupation or other special interest. Obtain monthly or
Q=10-2P,PRICE DECREASE FROM RS 3 TO 2
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