Consider a firm which produces a single output using two inputs according to the following production function: y - min{2K, L}, where y is the firms output, K is machinery (measured in machine-hours) and L is labor supply (measured in person-hours). Let r be the cost of one machine-hour and let w be the wage rate (i. e. the cost of one person-hour). (a) Does the firms technology exhibit increasing returns to scale? Explain! (b) Draw the iso-quant corresponding to output of 10 units. Be sure to label important features in the aggan (c) Suppose that r = 16 and w = 4, Determine the firms cost function c(y). (d) On a diagram that has costs on the vertical axis and output and the horizontal axis, plot the firms cost curve c(y), average cost curve AC(), and marginal cost curve MC(v).
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Business, 21.06.2019 18:30, emblemhacks
As the marginal propensity to consume (mpc) increases, the multiplier remains the same. increases. decreases. as the marginal propensity to save (mps) increases, the multiplier decreases. increases. remains the same. if the marginal propensity to consume is 0.30, what is the multiplier, assuming there are no taxes or imports? round to the tenths place. given the multiplier that you calculated, by how much will gross domestic product (gdp) increase when there is a $1,000 increase in government spending? $
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Business, 22.06.2019 17:50, nuggetslices
On january 1, eastern college received $1,350,000 from its students for the spring semester that it recorded in unearned tuition and fees. the term spans four months beginning on january 2 and the college spreads the revenue evenly over the months of the term. assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on february 28?
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Business, 22.06.2019 20:00, Hockeypro1127
An arithmetic progression involves the addition of the same quantity to each number. which might represent the arithmetic growth of agricultural production
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Business, 22.06.2019 20:30, BeverlyFarmer
Discuss ways that oracle could provide client customers with the ability to form better relationships with customers.
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Consider a firm which produces a single output using two inputs according to the following productio...
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