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### Question #2000501: Other Economics Problems

Question: The daily output of a specific factory is given by $Q(K,L)=10{{K}^{1/3}}{{L}^{1/2}}$ Use marginal analysis to compute the change in the daily output as a result of changing $$L$$ from625…

### Question #2001092: Other Economics Problems

Question: Which of the following industries exhibit economies of scale? Explain giving reasons. a) Financial services b) Agriculture c) Housing d) Electric power generation e) Steel f) Software development Solution:…

### Question #2001119: Monopoly, Oligopoly, Monopolistic Competition

Question: Describe the circumstances in which a monopolist may encounter a free rider problem and determine the senses in which a perfectly-discriminating monopolist is efficient or inefficient. Solution: The solution…

### Question #2001935: Other Economics Problems

Question: The Beryn Company is considering the addition of a new product to its product line. The firm has plenty of excess manufacturing capacity to produce the new product, and…

### Question #2002155: Other Economics Problems

Question: #1: An industry can be characterized by the following production function: $Q=2.5{{L}^{0.6}}{{K}^{0.40}}$ (a) What is the algebraic expression for the marginal productivity of labor? (b) What is the algebraic…

### Question #2002372: Other Economics Problems

Question: A company makes panels using five sheet metal machines and workers. These machines cost \$300.00 each. These workers can be hired on an as needed basis at 7,000.00 each.…

### Question #2002599: Monopoly, Oligopoly, Monopolistic Competition

Question: Explain under what conditions a firm is able to engage in third degree price discrimination. Are firms in industries characterized by monopoly or perfect competition more likely to be…