How much profit will the firm make if it maximizes profit
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?
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A company selling vegetable seeds in packets of 20 estimate that the mean number of seeds that will actually grow is 18,with standard deviation of 1.2 seeds. you buy 5 differentseed packets.
What would have to be true about the variation in demand and supply curves for human capital among individuals in the population to accomplish this goal? Explain what types of government policies regarding education might promote meritocracy?
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Suppose that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm.
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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,
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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