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Suppose the production function of a firm is given ×=0.5lthe power of 1/2*k the power of 1/2 price of labor and capital are given $5 and$10 respectively,and the firm has constant cost out lay of$600
1; find profit maximize level of L and K to employee
2; find MRTS of L to K at optimum
1With an aid of agricultural project, critically discuss the two approaches to the
working definition of project.
Suppose an importer of medical devises imports ultrasound machines: 50% from X, 30% from Y, and 20% from Z. If 10% of the machines from X, 5% from Y, and 10% from Z are defective, (a) what is the probability that an ultrasound machine imported by the importer is defective? (b) if an ultrasound machine is found defective, what is the probability that it came from Z?
The price elasticity of demand for urban transitfares has been estimated to lie between
-0.1 and -0.6. Based on these results, what isthe economic argument forraising transit
fares? What political arguments might local governments and transit authorities
encounterin opposition to these economic arguments?
If the pre-tax cost function for John’s Shoe Repair is C(q) = 100 + 10q - q2 + 1/3
q3, and it faces a specific tax of t = 10, what is its profit-maximizing condition if the
market price is p? Can you solve for a single, profit-maximizing q in terms of p?
(Hint: See Exercise 3.3 and Solved Problem 8.2.)
Show a diagram how the decrease in income level in country will affect the demand for meat
A Hotel in Ville has 1,000 rooms , and the hotel charge customer $ 100 . All the hotel rooms are always rented in any given day . a . To raise revenue , the governor decides to charge hotels a tax of $ 10 per rented room . After the tax is imposed , the price for hotel rooms rises to $ 108 , and the number of rooms rented falls to 900. Calculate the amount of revenue this tax raises for Ville and the deadweight loss of the tax . b . The governor now doubles the tax to $ 20 . The price rises to $ 116 , and the number of rooms rented falls to 800. Calculate tax revenue and deadweight loss with this larger tax . Are they double , more than double , or less than double your answers in part ( a ) ? Explain .
Given quantity demanded t
And supplied as q=36-1/3p and q=- 9+1/2p. If the government decide to impose a tax of 't" per unit supplied determine the value of tax
Suppose Americans decide to save more of their incomes. If banks lend this extra saving to businesses, which use the funds to build new factories, how might this lead to faster growth in productivity? Who do you suppose benefits from the higher productivity? Is society getting a free lunch?
Due to substintial increase in price in country A ,the real income level of population in country A decrease.show a diagram shows how the decrease in the income level in country A will affect the demand for meat which is a normal good
