Q: Please answer correct explain please asap please Don't answer by pen paper plz.
A: As the CEO of Citigroup, my vision would be to establish Citigroup as a leading Fintech player in…
Q: which of the following is a criticism that was expressed by American critics of NAFTA? A. NAFTA…
A: NAFTA is a North American Free Trade Agreement that is an agreement between the three countries…
Q: Under a cap and trade system: a) the quantity of carbon emission is determined endogenously, while…
A: The cap and trade framework, otherwise called emissions exchanging, is a market-based way to deal…
Q: value of the land. The more planes that fly, the lower is the amount of profits that the developer…
A: Airports total profit = 48X - X2 Developers total profit = 60Y - Y2 - XY
Q: Suppose that real GDP is currently $13.5 trillion and potential real GDP is $14.0 trillion, or a gap…
A: The real GDP is $13.5 trillion. Potential real GDP is $14 trillion Since real GDP is smaller than…
Q: An example of an externality is: a) the irritation you feel when you drive past a gas station…
A: An externality refers to a cost or benefit that influences a third party who didn't decide to cause…
Q: A logistics company is budgeting for its fuel usage for the next 4 years. Current fuel costs are…
A: Annual Fuel Cost = 350,000 Inflation = 6% MARR = 16% Time = 4 years
Q: provide an isoquant/isocost analysis diagram explaining the possible impact of the higher wages on…
A: Iso-cost shows the combination of the inputs which provides the same level of cost. Iso-quant shows…
Q: Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure…
A: According to the concept of present worth, a sum of money is worth more right now than it will be in…
Q: c) Suppose the inverse demand curve in a market is D(p) =a-bp, where D(p) is the quantity demanded…
A: Cost function: c1(y1)=cy1 Demand function: D(p) =a-bp Revenue function: R(p)=D(p)-S(p)
Q: Suppose you are about to borrow $16,000 for four years to buy a new car. Which of these situations…
A: To decide which situation might be favored, let's examine the two options: A. In this example, the…
Q: How much money can a production company that makes fluidized bed scrubbers spend now instead of…
A: In this question, we are presented with a scenario involving a production company that manufactures…
Q: What type of variable is 'social support', as reported in the world happiness report?
A: In economics, a variable alludes to a characteristic, element, or amount that can change and take on…
Q: Mike has two identical brothers. Each of them have the same utility function below. If Mike and his…
A: To determine the aggregate demand at each price of X, we need to find the optimal quantity of X and…
Q: onsider a homogeneous goods industry where two firms operate and the linear demand is given by p(y1…
A: Given information Market demand curve: py1+y2=a-by1+y2 Here p is the price and y1 and y2 is the…
Q: Determine the Total Cost if the Fixed cost are $16000 and the variable cost are $22000
A: Total cost is basically the sum of costs a business enterprise desires to manufacture a specific…
Q: Which of the following options is the best option considering /-8% compounded annually? Oto receive…
A: In financial decision-making, understanding the time value of money is crucial. Evaluating different…
Q: Using the principles of Opportunity Cost and Rational Decision Making, explain why (or why not)…
A: It is crucial to consider several points of view in this assignment instance based on the idea of…
Q: Help Suppose that Omar's marginal utility for each additional cup of coffee is 2.5 utils per cup no…
A: Utility means satisfaction. Total utility is the utility derived from the consumption of all the…
Q: In a large city, the market for vaccines is perfectly competitive. Let P be the price of vaccines in…
A: When there is a given market situation where the number of consumers and producers/suppliers is huge…
Q: The first economy has an MPC equal to 0.5. Therefore, its initial planned expenditure line has a…
A: The first economy has an MPC equal to 0.5. The second economy has an MPC equal to 0.70 There is a…
Q: (a) What is the main economic argument against the 1998 Copyright Term Extension Act (which extended…
A: Copyright is a legal concept that grants the creator of an original work exclusive rights to control…
Q: Explain the role union preferences play in determining unemployment.
A: Union preferences refer to the goals, demands, and priorities of labor unions, which are…
Q: The government can use _____________ in the form of ____________________ to increase the level of…
A: Fiscal policy refers to the government's utilization of taxation, public spending, and borrowing to…
Q: List the stages of economic integration
A: Economic integration: It is the process by which countries or regions eliminate trade barriers and…
Q: On the following graph, plot the aggregate demand curve that results from varying the price level…
A: Demand refers to the willingness and ability of the consumer to purchase goods and services at given…
Q: Carol is applying for a mortgage She has a monthly gross income of $4800. The home she would like to…
A: The front-end ratio is a ratio that shows how much of a person's income goes towards paying their…
Q: hat does it mean when we say 6-year term of National Positions here in the Philippines? Explain your…
A: The Planning Commission, also known as a central planning agency or economic planning agency, is a…
Q: Public goods are: a) neither nonrival nor nonexcludable in consumption b) nonexcludable but rival in…
A: Public goods will be goods or services that are nonrivalrous and nonexcludable, implying that their…
Q: Consider agent A with (inverse) demand curve for the public good PA 60-20A and agent B with inverse…
A: When any commodity is provided without any profit to every member in the society, and thus the…
Q: Find the present value of the given future payment at the specified interest rate. 1 $8000 due in 8-…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: Explain whether the statement is true or false. The Central Bank Regulates the commercial…
A: A financial association known as a central bank is in charge of checking and controlling the…
Q: You are given the following information for a certain economy: SB Compensation of Employees Net…
A: National income is the total value of all goods and services produced within a country's borders in…
Q: b) There are two firms in the economy. Each firm employs positive amounts of capital and labour. The…
A: Technical rate of substitution is the rate at which one unit of input is substituted for the units…
Q: there a better alternative to imposing a price ceiling?
A: A price ceiling is a government imposed restriction on prices determined in the market by forces of…
Q: Consider an economy in which consumption falls. Before any policy happens in response, which will be…
A: Both in the short and long terms, a decline in consumption can have a big impact on an economy. In…
Q: Between 2008 and 2010, TOTAL EMPLOYMENT in the United States Declined by approximately 5.1 percent.…
A: According to the sectoral shifts theory, changes in the demand for products and services can affect…
Q: A firm produces output, measured by O, which is sold in a market in which the price P=20. The output…
A: Monopsony refers to a market where there is only one buyer and many sellers. The single buyer has…
Q: a) Based on the information in the table, what is the demand function for this market? b) Calculate…
A: Demand refers to the quantity of a good or service that consumers are willing and able to buy at…
Q: 3. Martha has preferences represented by the utility function U(a,b) = ab/100, where "a" is the…
A: Given utility function: For Maryha: U=ab/100 For Bertha: U=1000*a2b2
Q: a. Explain what is the income inequality in global economic issue. b. Explain what are the causes of…
A: Since globalization, countries have become more interdependent and connected. Although this has…
Q: We could best describe the 3 C O nominal rate of interest as the inflation-adjusted rate of…
A: In an economy, the inflation rate plays an important role in determining the prevailing level of…
Q: can you do the reference also
A: Inflationary pressures occur when the demand for goods and services outstrips the supply leading to…
Q: Price (dollars) O 6 4 2 0 S D 100 200 300 400 500 600 Quantity surplus is $ Assume the demand curve…
A: The free marketplace is an arrangement wherein both demand and supply dictate product and service…
Q: Suppose two young people graduate from high school. One start working immediately and earns $1500…
A: To calculate the time it will take for the second student to make up the cost of his education and…
Q: Which of the following statements is true? Select one: O All sustainable allocations are efficient.…
A: The efficiency and ethical considerations are helpful on the desirability of social and private…
Q: a) Street lighting is often described as a 'public good'. In terms of economics, what does the term…
A: In a broad division, goods are categorised as :- (1) Public goods (2) Private goods
Q: Which of the following would cause the equilibrium price of apple juice to decrease and the…
A: An individual’s willingness to pay for each unit of the quantity he or she wishes to consume is…
Q: Explain why the percentage of all money paid to hospitals “out of pocket” is much smaller than the…
A: The given question is following: - We have to explain why the percentage of all money paid to…
Q: As a manager of a music venue (assume a monopoly market), you have noticed much higher demand on…
A: For profit maximization Profit is given asPr=TR-TCTR=Total Revenue=PQTC=75000+5Q (as per…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Suppose a firm has the following production function: Q(L, K) = 2K¹/2 1/2 Recall that the isocost line is as follows: C=wL+rK 1. What is the (long run) optimal choice of L and K for a given Q, w, and r? In other words, provide a formula for the optimal choice of labor L* (w, r, Q) and capital K* (w, r, Q) as a function of the parameters Q, w, and r. 2. Given Q = 40, w = 16, and r 4, what are the optimal levels of labor and capital, L* and K*? What is the cost of producing Q = 40 at these input prices? = = 3. Suppose now that you are in the short run, Q = 36, w = 1, r 2, and the capital level is fixed at K = 9. What is the optimal level of labor in the short run? What is the cost of producing Q = 36 in the short run at these input prices?Suppose a firm has the following production function: Q(L, K) = min{K, 2L} Recall that the isocost line is as follows: C = WL + rK 1. What is the (long-run) optimal choice of L and K for a given Q, w, and r? In other words, provide a formula for the optimal choice of labor L* (w, r, Q) and capital K* (w, r, Q) as a function of the parameters Q, w, and r. 2. Given Q = 16, w = 6, and r = 2, what are the optimal levels of labor and capital, L* and K*? What is the cost of producing Q = 16 at these input prices? 3. Suppose now that you are in the short run, Q = 16, w = 6, r = 2, and the capital level is fixed at K = 20. What is the optimal level of labor in the short run? What is the cost of producing Q = 16 in the short run at these input prices? Would it be possible to meet Q = 16 if K = 4 in the short run?Assume the Cobb-Douglas production function is Q= L ^0.75 K^0.5 and if price of labor per day is 5 birr and price of capital per day is 10 birr, and if total outlay (cost budget) per day is 400 birr, A.Find L and K that maximize out put B.What is the maximum out put the equilibrium L* and K*
- Suppose a firm has the following production function: Q(L,K) = 2K¹/2 1/2 Recall that the isocost line is as follows: C=wL+rK 3. Suppose now that you are in the short run, = Q = 36, w = 1, r 2, and the capital level is fixed at K = 9. What is the optimal level of labor in the short run? What is the cost of producing Q = 36 in the short run at these input prices?Question 3: Suppose a firm has the following production function: Q(L, K) = 2L + K Recall that the isocost line is as follows: C=wL+rK 1. What is the (long-run ) optimal choice of L and K for a given Q, w, and r? In other words, provide a formula for the optimal choice of labor L* (w, r, Q) and capital K* (w, r, Q) as a function of the parameters Q, w, and r. 2. Given Q = 20, w = 6, and r = = 1, what are L* and K*?The production function for a product is given by q= 10K^(1/2)L^(1/2) where K is capital, and L is labor and q is output d) Now suppose w =30 and r = 120. What is the minimum cost of producing q=1000. (You must show your work by clearly writing the equations that you use to derive the cost minimizing levels of L and K.) e) Now suppose that the firm is in the short run and cannot vary the amount of capital. That is, it must use the same amount of capital as in part d). However, the firm wants to produce 1200 units of output. How much labor should it use to minimize its cost and what is the minimum cost of producing q =1200?
- Question 2: Suppose a firm has the following production function: Q(L,K) = min{K, 2L} Recall that the isocost line is as follows: C=wL+rK 1. What is the (long-run) optimal choice of L and K for a given Q, w, and r? In other words, provide a formula for the optimal choice of labor L* (w, r, Q) and capital K* (w, r, Q) as a function of the parameters Q, w, and r. 2. Given Q = 16, w = 6, and r = 2, what are the optimal levels of labor and capital, L* and K*? What is the cost of producing Q = 16 at these input prices? 3. Suppose now that you are in the short run, Q = 16, w = 6, r = 2, and the capital level is fixed at K = 20. What is the optimal level of labor in the short run? What is the cost of producing Q = 16 in the short run at these input prices? Would it be possible to meet Q = 16 if K = 4 in the short run?The production function of a firm is f : R² → R, (L, K) + 10L + 16K – 2L? – K?, and the per unit costs of the quantities of labor input L and capital input K are 4 and 2 dollars, respectively. The firm wants to maximize its production of output subject to the total cost of production not exceeding 20 dollars. The firm can only employ non-negative quantities of labor and capital. (a) Write the firm's problem as an optimization problem with inequality constraints. (b) Identify any points in the constraint set that violate the non-degenerate constraint. qualification for the problem in (a). (c) Construct the Kuhn-Tucker Lagrangian by defining L(L, K, X) for the probļem in (a). (d) List the Kunh-Tucker first-order conditions for the problem in (a). (e) Solve the first-order conditions from (d) to find the critical points of the Lagrangian. (f) Justify that the problem in (a) is a concave program and conclude with the values of labor and capital that solve the firm's problem. (g) Based on…A firm's production function is q = 26x^0.33y^0.67, where x and y are the amounts of factors x and y that the firm uses as inputs. If the firm is minimizing unit costs and if the price of factor x is 6 times the price of factor y, the ratio in which the firm will use factors x and y is closest to. A. x/y = 0.08 B. x/y = 0.25 C. x/y = 0.5 D. x/y = 2.4
- Which of these production functions have diminishing marginal returns to labor? a)F(K,L) = 2K+15L b)F(K,L)=√KL c) F(K,L) = 2√K+15√LA firm's production function is given by Q = 8L K + 7L Unit capital and labour costs are $1 and $7 respectively and total input costs are $500. (a) Find the values of L and K which maximise output. (b) Verify that the ratio of marginal product to price is the same for both inputs at the optimum. (a) The value of K = and the value of L = !! (Round your answer to three decimal places as needed.) (b) The ratio of the marginal product of capital to the unit price of capital is MPK PK Work out the ratio of the marginal product of labour to the unit price of labour MP %3! PL (Give your answers to the nearest whole number as needed.) Hence the ratio of marginal product to price is the same for all inputs. Any slight discrepancy in the answers is due to rounding.A firm can manufacture a product according to the production function Q = F(K, L) = K0.5L0.5. (a) What is the average product of labor, APL, when the level of capital is fixed at 36 units and the firm uses 16 units of labor? (b) What is the marginal product of labor, MPL, when capital is fixed at 36 units? (c) Suppose capital is fixed at 36 units. If the firm can sell its output at a price of $100 per unit of output and can hire labor at $40 per unit of labor, how many units of labor should the firm hire in order to maximize profits?
