Given Q = 5L² + 8K² - 2LK, w = 1, r = 1, find the values of L and K which will minimize total input costs if the firm is contracted to provide 9360 units of output.

Q: Production is inefficient if the economy is producing at a point a) on the production possibilities…

A: Production is inefficient when with given resources the economy can produce more goods . It in other…

Q: Martha and Dave like to make identical tacos and cakes. The time it takes Martha and Dave to make…

A: In International Trade absolute advantage means a country thay can produce more output compared to…

Q: Consider the market for chocolate ice cream where the supply and demand are very elastic. In the…

A: Here we are given that both and demand curves are elastic. It means that both the curves are…

Q: "A higher inflation rate will be built into the expectations of workers and a higher inflation rate…

A: Inflation:- Inflation is the broad increase in a country's cost of goods and services The…

Q: Other things being equal, when the Fed sells bonds, the money supply curve shifts to the causing…

A: Money supply is a total amount of money circulation in the country. higher money supply leads…

Q: a. According to the Law of Supply, if the price of a good increases, O A. the supply of that good…

A: The supply curve of a good depicts the direct relationship between the price of a good and the…

Q: Spending - Included in the U.S. GDP for 2020, or not included ?      If so, under which expenditure…

A: Since you have posted a question with multiple sub parts, we will solve first three subparts for…

Q: Give an example of a positive and a negative externalities that someone faces in their life.  Also,…

A: Externalities are the harmful or beneficial side effects arise out of production or consumption of…

Q: A recently hired chief executive officer wants to reduce future production costs to improve the…

A: A recently hired executive officer wants to reduce future production cost to improve the company's…

Q: the state of the economy in 1999 and 2000? Real GDP was ____ potential GDP and the economy had come…

A: As in 1999 & 2000, the output Gap was positive (Actual GDP - Potential GDP) and the real GDP was…

Q: Refer to the figure, which of the following pairs correctly identify W and Y? a. Markets for…

A: The figure given to us is representing circular flow model which state that it is a income…

Q: Home Announcements ages Assignments Grades People Files Modules IU eTexts (Unizin Engage) Syllabus…

A: Here, in the given table, quantity demanded decreases and quantity supplied increases, with the…

Q: When a Central Bank takes action to decrease the money supply and increase the interest rate, it is…

A: We know that The central bank is responsible for controlling and regulating the supply of money in…

Q: Determine the equivalent annual worth for years 1  through 10 of a uniform series of payments of…

A: The amount that is currently anticipated to be received at a specific interest rate at a future…

Q: he demand equation for cans of chicken is Qd= 60-3p Suppose the price of a can of chicken…

A: Price elasticity of demand measures the degree of responsiveness of demand to change in the price of…

Q: Do the following events lead to an increase or decrease in the equilibrium price of athletic wear,…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: Rainbow Harbor Cruises charges $16/adult and $8/child for a round-trip ticket. The records show…

A: Assume number of adults are denoted with "A" and number of child are denoted with "C" #Saturday A +…

Q: Can market intervention by the government make things worse? Are there any other remedies for…

A: Market interventions are actions that alter or obstruct the market; typically taken by state-run…

Q: Land 1 1 1 1 1 1 1 1 1 Labor 0 1 2 3 4 5 6 7 8 Total Output 0 3 8 12 15 17 17 63 16 13

A: Given: Inputs(Land and Labor) and Output The land is the fixed input and labor is the variable…

Q: Josel has 60 acres of land. It takes 1 acre to grow 1 bushel of corn and 4 acres to grow 1 bushel of…

A: The production possibility frontier (PPF) is a curve on a graph that depicts the potential output of…

Q: The amount of exercise that one gets is an important factor in the determination of his general…

A: Introduction  Positive statement deals with what is and how the economic problems are actually…

Q: (a) Determine which alternative should be selected based on the PW method. Assume repeatability and…

A: Given  Study period =24 years. The service life of Lead acid is 8 years and the service life of…

Q: Economics Why is the rational expectations, representative agent model useful in the study of…

A: An economic hypothesis is a collection of ideas and guidelines that describe the potential of…

Q: Consider the following customers of a Japanese sushi restaurant. Their total benefit (TB) measured…

A: given data Economic surplus Economic surplus, usually referred to as total welfare, seems to be the…

Q: Graphically, the market demand curve is: Multiple Choice steeper than any individual demand curve…

A: Demand curve shows quantities demanded at different price levels.

Q: The supermarket is selling 2,000 containers of margarine a week at $2.50 each. You know that the own…

A: The elasticity of demand alludes to how much interest answers an adjustment of a monetary component.…

Q: Question 4 The table gives information from the Current Population Survey. Item Labor force…

A: Ans. 4. The working-age population is the adult population of a range of start working and…

Q: Consider an increase in government spending. Assume that the economy is initially operating at the…

A: Aggregate demand is the total demand for goods and services in an economy at the given price level.…

Q: What is the demand curve? Why does it slope downward?

A: Demand is defined as the volume of a good or service that customers buy at different prices during a…

Q: A city is considering building pools in city parks located near residential areas. The city planner…

A: Net Benefit is the difference between the total Benefit of project and total cost of project. I.e.…

Q: he utility function is given by u(x₁, x2) = min{2x₁,5x2}. a) For this utility derive the demand…

A: Utility function shows the relationship between utility and consumptions of goods. This is case of…

Q: The Securities and Exchange Commission (SEC) wants to review certain documents of Treasury Bonds,…

A: Just after 1929 Stock Market Collapse, the United States government established the Securities and…

Q: If real GDP is $21 trillion and potential GDP is $20 trillion, how big is the output gap? ____…

A: Real GDP is the value of final goods and services produced in the year within the country, valued at…

Q: Women’s rising labor force participation might either increase or reduce marriage rates. Explain why…

A: The female labor force is a significant driver of development and advancement. Ladies partake in the…

Q: Refer to Figure 8-2. Producer surplus without the tax is Ⓒa. $10, and producer surplus with the tax…

A: Equilibrium in the market occurs at the intersection of demand and supply curves.

Q: How can we use the Supply-Demand model to predict what is likely to happen to the price of alcohol…

A: In the free market, the price of goods or services is determined by the forces of demand and supply.…

Q: The most frequently used method for estimating demand functions is: market experiments. 0 0 0 0 О…

A: Demand function shows inverse relationship between price and quantity demanded

Q: 6. Price Controls Draw a graph for each of the following situations. Indicate the price that the…

A: The price ceiling is the upper bound of the market price above that price the quantity can not be…

Q: A man deposit ₱1,000,000 for one year which pay an annual interest of 6%. The income is taxable and…

A: Given that, A man deposit(deposit  amount) ₱1,000,000 The annual interest is 6% withholding interest…

Q: Refer to the same table, if Year 1 is the base year, then the CPI for Year 1 was a. 95.7 b. 100.0…

A: Consumer Price Index or CPI helps us to know the changes in the relative price of a certain basket…

Q: Federal alcohol excise taxes are designed so that the alcohol content of beer and wine is taxed at a…

A: Excise tax is defined as the tax that is imposed on specific goods or services like, fuel, tobacco…

Q: 1) How does market failure provide a justification for government intervention in tourism? 2) Why is…

A: Sustainable development Sustainable development is a method of economic planning that aims to…

Q: Rhaenyra deposits 1M for one year which pays 6% interest annually. He has a taxable income and the…

A: Interest is the amount of extra money that a sum of money gives you if you put it in a financial…

Q: and instability in Country X, millions of its citizens emigrate to Country Y. Which of the followi…

A: The production possibilities curve shows all the possible blends of how we can produce these two…

Q: 1) Exemption of food purchases from a sales tax reduces regressivity. A: True B: False 2) Federal…

A: Disclaimer- “Since you have asked multiple questions, we will solve the first questions for you as…

Q: Jane can either bake 10 mango tarts or clean 2 cars in one hour. If Jane decides to do both these…

A: Opportunity cost is the decrease in production of one good needed to increase production of other…

Q: Harry and Ron purchase vegetables at a grocery store, but Ron also grows vegetables in his backyard.…

A: The gross domestic product (GDP) is a metric used to represent the economic output of a nation. The…

Q: Question 20 The table below shows the hypothetical values of the adult population, number of…

A: Unemployed : A person is unemployed only if he is willing to work but not getting work .  Employed:…

Q: A small strip-mining coal company is trying to decide whether it should purchase or lease a new…

A: Given  Option 1: Purchase new clamshell The purchasing cost of clamshell (P)=$150,000 Salvage value…

Q: White Oaks Properties builds strip shopping centers and small malls. The company plans to replace…

A: Equivalent annual cost ( in short EAC) is the yearly expense of buying, working, and keeping a…