Suppose that the production function is given by: ? = ?(?, ?) = ?(?)^1/3(?)^1/3

where ? > 0 is total factor productivity, ? indicates the amount of capital employed and ? the amount of labor employed. Wages are ? and the rental cost of capital is ?. Suppose that in the short run capital is fixed, i.e., ? = ?bar. Moreover, the firm must pay ??bar regardless of the production level

a) Solve the cost minimization problem. That is, determine the amount of capital and labor that THE firm employs in the short run. Hint: Capital is trivial because it is fixed.

b) Compute the short run cost function. Also indicate variable and a fixed cost, and compute average variable cost, marginal cost and average total cost.

c) Suppose that the price of ? is ?. Compute the level of output that maximizes the profits of the firm. Also compute the corresponding level of ?.

d)Explain how the supply curve of the firm is affected by the following variables: the wage rate ??, the rental cost of capital ?, the fixed capital ?bar, and total factor productivity ?. Hint: You only need to check if the quantity supplied at each price (that is, the supply curve) increases or decreases with each variable.

Describe in detail the similarities and the differences between IS - LM and AD - AS model Write in your Own Words. Explain (macroeconomic)

describe in. detail the similartities and the differences between the IS-LM and AD-AS model . write in your own words there is no page limit.

What factors must farmers analyze if they want to form farm market organizations to improve their prices? Can farmers control these factors? Can the government control these factors? Explain.

Describe in detail the similarities and the differences between IS-LM and AD-AS model. Write in your own words. There is no page limit.

how to answer E-commerce has affected customer service, elaborate how? In the context of this chapter. in 300 words Customer Service, 6th Edition ISBN: 9780133112061 By: Paul R. Timm

Who Pays Higher Gasoline Taxes?

Gasoline taxes are paid by sellers from the revenues they earn from their total sales. Thus to receive the same effective price for selling a given quantity of gasoline, a gasoline producer must charge an actual price that is higher by exactly the amount of the tax. Sellers supply a given quantity of gasoline, but at a price that is higher by the amount of the tax that they have to pay to the government.

Who truly pays the tax depends on the price elasticity of demand. The more inelastic is demand, the greater is the portion of the tax paid by consumers. Thus if the demand for gasoline was perfectly inelastic, the entire burden of the tax would fall on buyers. If demand was perfectly elastic, the entire burden would fall on sellers. Estimates of the price elasticity of demand for gasoline indicate values between 0.2 and 0.5. Based on the information in this example, if excise taxes increased by 10 percent, by what percentages may desired gasoline purchases decrease?

Explain the generalized business merger period in the United States. What happened to the structure of the American industry during the first merger period?

Explain the differences among the frictional, structural and cyclical forms of unemployment.

Word Limit: Maximum 250 words

The utility possibility frontier for two individuals is given by U_A + 2U_B = 200.

1. On the graph paper provided, plot the utility possibility frontier.

2. Based on the function W (U_A, U_B) =max{U_A, U_B} on the utility possibility frontier in part (a), in order to maximize a Nietzschean social welfare function, what should be the values of U_A and U_B?

3. If we use a Rawlsian criterion, W (U_A, U_B) =min{U_A, U_B}, in order to maximize the social welfare function, what should be the values of U_A and U_B?
   4. If the social welfare is given by W (U_A, U_B) = U_A^1/2, U_A^1/2, in this case, with the utility possibility frontier in part (a) what should be the values of U_A and U_B if social welfare is to be maximized?
   5. On the same graph plotted in part (a), show the three social maxima by drawing a Nietzschean isowelfare line through the Nietzschean maximum, a Rawlsian isowelfare line through the Rawlsian maximum and a Cobb-Douglas isowelfare line through the Cobb-Douglas maximum.

Suppose now that market demand for skiing increases to Qᴅ = 9000 − 60p because of environmental regulations neither Pepall Ridge nor Snow Richards can increase their capacities and serve more skiers beyond their current level of 1,800.
What is the Nash equilibrium price outcome for this case? The constant marginal cost is 10.

The shift to the information economy has changed the role of the manager in today’s organization.   Research has demonstrated that a majority of workers in this new knowledge economy are knowledge workers or workers whose work output is the result of thinking versus a physical process. Discuss what skills today’s managers need in the knowledge economy that weren’t required a decade ago?

a) Derive the short-term cost function from the production function.
b) What is the relationship between cost and supply function?
c) Show that when profit is maximized, a company chooses the production quantity, where marginal revenue and marginal cost are the same.
d) Show the market result in the case of a monopoly with deadweight loss that goes with it.

what is human security ?

and R2P ,and Humanitarian intervention in 21st century ?

Need to write a report of 1000 words ASAP