Part a) The Cob Douglas production function is given as:
To show that this function is homogeneous with degree 3, we introduce be a parameter, t.
Using properties of exponents, we on tinder:
This implies that:
Simplify the exponent of t to get;
Hence the function is homogeneous with degree, 3
Part b) To verify Euler's Theorem, we must show that:
Verifying from the left:
Q•E•D
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Answer: $107,500
Explanation:
There is an "Exclusion of gain on sale of home" provision by the IRS that allows for a single tax payer to exclude up to $250,000 from the sale of their primary home. A home qualifies as primary if the owner has lived in it for 2 years or more so Steve's home here is a primary home.
The gain he received was:
= 705,000 - 347,500
= $357,500
From this gain, $250,000 can be excluded so total gain recognized:
= 357,500 - 250,000
= $107,500
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responsibility is something you have to take care of yourself
accomplishment is something you ill or have accomplished
skill is something that you were born to be able to do
aptitude is .............?????????
Answer:
$2.25
Explanation:
sale volume of company = 30,000 unit
total fixed cost are = $30,000
total variable cost $45,000 for 30,000 unit
1 unit = 45000/30000 = $ 1 . 5
for the sale of 40,000 unit
the total expected cost
= Fixed cost + Variable cost
= $30,000 + 40,000×$1.50
= $30,000+$60,000
= $90,000
Cost per unit:
= $90,000/40,000
= $2.25
