Suppose the production of mp3 players can be represented by the following production function: q = L0.4K0.4. The firm currently produces q1 units. If all inputs doubled, the new level of output will equal
A) 20.4 q1.
B) 20.8 q1.
C) 0.8 q1.
D) 1.6 q1.
B
Economics
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If the expected price level exceeds the actual price level in an economy, _____
Fill in the blank(s) with the appropriate word(s).
Economics
Use the general relationship between marginal and average values to explain why a marginal cost curve must intersect an average total cost curve and an average variable cost curve at their minimum points
What will be an ideal response?
Economics
Figure 10.3 United States Government Source of Funds and Outlays, Fiscal 2011
What will be an ideal response?
Economics
During which years did the country have a budget deficit?
A) 2008 and 2009 B) 2012 only C) 2011 only D) 2010 and 2012 E) all except 2011
Economics