When the agatha has a production function
How much will it cost her to produce 70 units of output when the Agatha has a production function 2x1+x and if the factor prices are $8 for factor 1 and $5 for factor 2?
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The production function is given by f(x) =4x^1/2. How much profit will the firm make if it maximizes profit if the price of a commodity produced is $60 per unit and the cost of the input is $20 per unit?
A music school has budgeted to purchase three musical instruments. They plan to purchase a piano costing $3,000, a guitar costing $550, and a drum set costing $600.
A sample of the monthly amounts spent for food by families of four receiving food stamps approximates a symmetrical distribution.
A manufacturing plant employs light bulbs whose life spans are normally distributed, with mean and standard deviation equal to 500 and 60 hours, respectively. In order to minimize the number of bulbs that burn out during operating hours,
Calculate the future value equivalent to the three annual payments? Assume i = 10%, compounded quarterly, with annual payments of A = 100.
What happen to the quantity of apples demanded when the own price elasticity of demand for apples is -1.2 if the price of apples falls by5%.
How can calculate the absolute value of the price elasticity at a price of $ if a price increase from $5 to$7 causes quantity demand to fall 150 to 100?
Explain the general roles of the three requirements of experimental design with particular reference to your design in (a).
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