Disney earned a negative economic profit in 2006
Indicate whether the statement is true or false
True
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Suppose a firm's production function is given by Q = F(L, K) = 5LK, where L is the amount of labor and K is the amount of capital. The wage rate is $100 per unit of labor and the rental rate of capital is $50 per unit of capital. a. What is the least-cost combination of capital and labor if the firm produces 1000 units of output? b. What is the firm's long run cost function? c. If the firm currently uses 10 units of capital, what is its short-run cost function?
What will be an ideal response?
Economic analysis requires us to combine:
A. unlimited resources with limited wants. B. theory with observations. C. developed and developing nations. D. republicans and democrats.
Which of the following is true about the market equilibrium? a. As the price increases, the quantity demanded and the quantity supplied increases
b. As the price increases, the quantity demanded and the quantity supplied decreases. c. As the price increases, the quantity demanded increases and the quantity supplied decreases. d. As the price increases, the quantity demanded decreases and the quantity supplied increases. e. As the price increases, neither the quantity demanded nor quantity supplied change.
What amount of money was appropriated by Congress for the Troubled Asset Relief Program?
a. $225 billion b. $252 billion c. $700 billion d. $787 billion