Economics

A firm\'s product sells for $3 per unit in a highly competitive market. The firm

A firm's product sells for $3 per unit in a highly competitive market. The firm produces output using capital (which it rents at $80 per hour) and labor (which is paid a wage of $…

A firm\'s production function is q=5L^0.5 K^0.5. The firm\'s capital is fixed at

A firm's production function is q=5L^0.5 K^0.5. The firm's capital is fixed at ¯K=400 units in the short run. The rental rate of a unit of capital is $9 and the wage rate is $100 …

A firm\'s production function is the relationship between: the inputs employed b

A firm's production function is the relationship between: the inputs employed by the firm and the resulting costs of production. the factors of production and the resulting output…

A firm\'s production function is the relationship between: the inputs employed b

A firm's production function is the relationship between: the inputs employed by the firm and the resulting costs of production. the factors of production and the resulting output…

A firm\'s short-run cost function for a good is C(a)-30-10q+5q and the market de

A firm's short-run cost function for a good is C(a)-30-10q+5q and the market demand function for the good is q -460-4p where q is output level of the good , is the market quantity…

A firm\'s total cost function is given as: C (Q) : 100 + 500-4Q2 + a. The firm o

A firm's total cost function is given as: C (Q) : 100 + 500-4Q2 + a. The firm opera es in a competitive market and faces market price $48 per unit. Given this information, answer …

A firm\'s total cost is C = 10q^3 - 40q^2 + 100q + 30, where q is measured in hu

A firm's total cost is C = 10q^3 - 40q^2 + 100q + 30, where q is measured in hundreds of units. It has 3 workers that cannot be fired in the short run and wage is w = 10. The firm…

A firm\\\'s CEO seeks to extend the firm\\\'s production through the opening of

A firm's CEO seeks to extend the firm's production through the opening of a new plant. In his decision, he takes into consideration the elements below. Each element is related to …

A firms product function is Q=5L^0.5K^0.5. Labor costs $40 per unit (Pl=$40) and

A firms product function is Q=5L^0.5K^0.5. Labor costs $40 per unit (Pl=$40) and capital costs $10 per unit (Pk=$10). K=16 in the short run. 5. Determine the firms short run cost …

A firms production function is given by Q = 10 x (EM + EF)1/2, where EM and EF a

A firms production function is given by Q = 10 x (EM + EF)1/2, where EM and EF are the quantities or male and female employees. Males and females are perfect substitutes. Please n…

A firms production technology is given by the production function Q = LK where L

A firms production technology is given by the production function Q = LK where L represents labor hours, K machine hours and Q the amount of output. The market wage and rental rat…

A firms production technology is given by the production function Q = LK where L

A firms production technology is given by the production function Q = LK where L represents labor hours, K machine hours and Q the amount of output. The market wage and rental rat…

A firm’s product sells for $3 per unit in a highly competitive market. The firm

A firm’s product sells for $3 per unit in a highly competitive market. The firm produces output using capital (which it rents at $80 per hour) and labor (which is paid a wage of $…

A firm’s product sells for $4 per unit in a highly competitive market. The firm

A firm’s product sells for $4 per unit in a highly competitive market. The firm produces output using capital (which it rents at $25 per hour) and labor (which is paid a wage of $…

A firm’s production function is given by: F(L,K) = L^1/4K^3/4. You also know tha

A firm’s production function is given by: F(L,K) = L^1/4K^3/4. You also know that the wage rate is $2, the price of capital is $6, and the price of the product is $216 a) In the s…

A firm’s production technology is given by the production function where q = L 2

A firm’s production technology is given by the production function where q = L2K L represents labor hours, K machine hours and q the amount of output. The market wage and rental r…

A firm’s total cost function is TC = 2 q^ 2 + 5 q + 10 . The firm is a price tak

A firm’s total cost function is TC = 2q^2 + 5q + 10 . The firm is a price taker and the market price for its product is $25. The firm also receives a subsidy from the government b…

A firm’s total cost function is TC = 2q 2 + 5q +10 . The firm is a price taker a

A firm’s total cost function is TC = 2q 2 + 5q +10 . The firm is a price taker and the market price for its product is $25. The firm also receives a subsidy from the government be…

A fishing company on a lake has the following production function: Fish caught p

A fishing company on a lake has the following production function: Fish caught per month = 100*L0.4*K0.5 where: L = hours of labor per month (currently 1000) K = capital invested …

A fixed exchange rate system crisis may be accompanied by losses of internationa

A fixed exchange rate system crisis may be accompanied by losses of international reserves. revaluation of a currency. falls of domestic interest rates. gains in comparative advan…

A flat tax: Select one: a. is designed so that everybody would pay the same numb

A flat tax: Select one: a. is designed so that everybody would pay the same number of dollars in taxes. b. is designed in such a way that as a person's income rises, the tax rate …

A flood control project has a construction cost during the first year of $10 mil

A flood control project has a construction cost during the first year of $10 million, during the second year $6 million, and during the third year $2 million. It is completed at t…

A food processing shop in Accra (Biem) is considering adding a new line and you

A food processing shop in Accra (Biem) is considering adding a new line and you are hired to conduct the capital budgeting analysis. Biem needs to increase production capacity to …

A food-products company has recently introduced a new line of fruit pies in six

A food-products company has recently introduced a new line of fruit pies in six U.S. cities: Atlanta, Baltimore, Chicago, Denver, St. Louis, and Fort Lauderdale. Based on the pie%…

A food-products company has recently introduced a new line of fruit pies in six

A food-products company has recently introduced a new line of fruit pies in six U.S. cities: Atlanta, Baltimore, Chicago, Denver, St. Louis, and Fort Lauderdale. Based on the pie%…

A food-products company has recently introduced a new line of fruit pies in six

A food-products company has recently introduced a new line of fruit pies in six U.S. cities: Atlanta, Baltimore, Chicago, Denver, St. Louis, and Fort Lauderdale. Based on the pie’…

A food-products company has recently introduced a new line of fruit pies in six

A food-products company has recently introduced a new line of fruit pies in six U.S. cities: Atlanta, Baltimore, Chicago, Denver, St. Louis, and Fort Lauderdale. Based on the pie’…

A forecasted increase in metal prices has encouraged the Delta Resource Company

A forecasted increase in metal prices has encouraged the Delta Resource Company to consider the expansion of the capacity in one of its open pit mine operations in Northern Ontari…

A former movie-star is planning on writing a \"tell-all\" memoir that details th

A former movie-star is planning on writing a "tell-all" memoir that details the behind the scenes stories of all of her movies. It is expected to be a best-seller and many publish…

A formula for the inflation tax: The amount of money the government raises from

A formula for the inflation tax: The amount of money the government raises from the inflation tax is M. a. Write this amount as a ratio to nominal GDP. Multiply and divide by M to…

A forward contract for 4 months is entered into when a stock index is at 1000. I

A forward contract for 4 months is entered into when a stock index is at 1000. If the risk free interest rate is 3% per year (with continuous compounding) and the dividend yield o…

A franchised service station is considering the offering of air conditioner (A/C

A franchised service station is considering the offering of air conditioner (A/C) repair services. They estimate that 0.2 of their customers will purchase this A/C service, which …

A free market exists O A. when the government places significant restrictions on

A free market exists O A. when the government places significant restrictions on how a good or a service can be produced or sold or on how a factor of production can be employed O…

A free market society still requires government to provide the framework for the

A free market society still requires government to provide the framework for the market by protecting private property, providing for basic law/order and public goods like transpo…

A friend came into your office and said that his bank was out to kill small busi

A friend came into your office and said that his bank was out to kill small businesses. You asked him what he meant by this remark, and he said that he read an article that said h…

A friend of mine just asked this question and I showed how far we understand. Ca

A friend of mine just asked this question and I showed how far we understand. Can you explain in easy terms how you finish this. Suppose the demand curve for coffee is P= 10 - 2Q …

A friend of yours is considering two cell phone service providers. Provider A ch

A friend of yours is considering two cell phone service providers. Provider A charges $120 per month for the service regardless of the number of phone calls made. Provider B does …

A friend owns an ice cream shop. Aware of your current studies in economics, the

A friend owns an ice cream shop. Aware of your current studies in economics, the friend asks for your help in determining what she should do regarding her shop in the winter. Her …

A friend wants to learn how the unemployment rate is calculated and how inflatio

A friend wants to learn how the unemployment rate is calculated and how inflation is measured. He asks you which economics course to take and you advise him to enroll in Which of …

A fuel oil distributor is planning to invest in a new terminal facility. The cos

A fuel oil distributor is planning to invest in a new terminal facility.   The costs are provided below. Initial costs: Buildings and equipment $1,500,000 Trucks 150,000 Annual co…

A function that always falls as a buyer enjoys more units of a good. The sum of

A function that always falls as a buyer enjoys more units of a good. The sum of the marginal utilities from the consumption of good. How much utility a seller gets from producing …

A function that indicates the maximum output per unit of timethat a firm can pro

A function that indicates the maximum output per unit of timethat a firm can produce, for every combination of inputs with agiven technology, is called: Select correct option: An …

A fundamental assumption for economic analysis is that economic agents, be it an

A fundamental assumption for economic analysis is that economic agents, be it an individual, a household or a firm/business, tend to make choices and select alternatives rationall…

A fundamental characteristic of oligopolies is the tendency for them to follow p

A fundamental characteristic of oligopolies is the tendency for them to follow price leadership and to act in harmony in the setting of prices, while monopolistic competitors will…

A furniture manufacturer produces two types of tables (country and contemporary)

A furniture manufacturer produces two types of tables (country and contemporary) using three types of machines. The time required to produce the tables on each machine is given in…

A futures contract is a contract that essentially gives the owner of the contrac

A futures contract is a contract that essentially gives the owner of the contract the ability to buy some specific amount of a good at a given price at a point in the future. In a…

A gardening supply manufacturer\'s research shows that 30% of the 110 million ho

A gardening supply manufacturer's research shows that 30% of the 110 million households in the United States grow flowers, and 20% of those grow roses. Seeing a market opportunity…

A gas utility serves a small town with natural gas. The total cost function for

A gas utility serves a small town with natural gas. The total cost function for the utility as a function of the amount Q of gas sold is: TC(Q) = 50,000 + 300Q + 0.4Q2 The demand …

A gas utility serves a small town with natural gas. The total cost function for

A gas utility serves a small town with natural gas. The total cost function for the utility as a function of the amount Q of gas sold is: TC(Q) = 50,000 + 300Q + 0.4Q2 The demand …

A generous university benefactor has agreed to donate a large amount of money fo

A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump-sum of $10mln, or in parts, where $5.…