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Consider the following production function f(k,l) = k^1/3 + l^1/3
Suppose the government taxes labor at by an amount t per unit of labor. Rewrite the long run cost function including the tax.
Business Economics, Economics
A grocery store rewards card has a 7 digit number to identify the user. The first digit must be 1 or 2. The remaining six digits take values randomly between 0 - 9 inclusively. What is the probability that the ID number ...
What's wrong with this way of thinking? "Economists claim that when the price of something goes up, producers increase the quantity supplied to the market. But last year, the price of oranges was really high and the supp ...
Match the Definition Consumer Surplus Producer Surplus The difference between the amount that buyers would be willing and able to pay for a good and the actual amount the buyer pays The difference between the minimum amo ...
Consider the following production function that is already written in per worker terms: y = Akαh 1-α where h represents human capital per worker. Suppose we are given the following information: capital per worker in an e ...
Suppose Oregon proposes indexing the minimum wage to inflation. Describe the substitution and scale effects you anticipate with this policy? (In your response, assume that the minimum wage is an effective price floor and ...
What are the typical types of risk faced by a firm? Explain each type of risk in details.
Explain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages. Given the rising cost of going to college, explain why a college education wi ...
In 2009, the hershey company of pennsylvania became the latest company to open a candy factory in mexico, joining other american candy companies including brach's confections and ferrara pan candy, which had opened plans ...
Explain why the purchase and sale of used goods and of financial assets are not included in the calculation of GDP even though transactions in these items amount to billions of dollars daily.
In a large organization, 55% of all employees are female, 25% of the employees have a business degree, and 40% of all males have a business degree. What is the probability that an employee has a business degree given tha ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As