Answer:
Please find the detailed answer as follows:
Explanation:
Q = KL
Wage = 30
Rent or price per unit of capital = 20
a) A firm minimizes its cost at the point where marginal rate of technical substitution is equal to the ratio of the prices of inputs.
So, marginal rate of technical substitution = marginal product of labor / marginal product of capital = wage / rent
K / L = 30 / 20
K / L = 1.5
K = 1.5L
Q = KL
Putting the value of Q = 600 and K = 1.5L in the above equation,
600 = 1.5L x L
600 = 1.5L2
L2 = 600/1.5 = 400
L = 20 is the answer.
K = 1.5L
K = 1.5 x 20 = 30 is the answer.
So, 20 units of labor and 30 units of capital should be used by firm to minimize the cost of producing 600 units of output.
b)
A firm minimizes its cost at the point where marginal rate of technical substitution is equal to the ratio of the prices of inputs.
So, marginal rate of technical substitution = marginal product of labor / marginal product of capital = wage / rent
K / L = 30 / 20
K / L = 1.5
K = 1.5L
Q = 1.23KL
Putting the value of Q = 600 and K = 1.5L in the above equation,
600 = 1.23 x 1.5L x L
L2 = 600 / (1.23 x 1.5)
L2 = 325.2
L = 18 approximately or rounded off.
K = 1.5L
K = 1.5 x 18 = 27
Total cost = (wage x units of labor used) + (rent x units of capital used)
= (30 x 18) + (20 x 27)
= 540 + 540 = 1080 is the answer.
Answer:
The term is called "Business Intelligence"
Explanation:
In business intelligence we observe trends , patterns of customers , suppliers , partners in order to develop an understanding of market trends so that we can focus on pain points in order to improve them and on string areas so that we can invest more in order to increase our strength and profitability.
Answer: Maturity
Explanation:
The treasury yield curve plots the yields on treasury notes and bonds relative to the *maturity " of the securities.
The US treasury yield curve compares the yield of short term treasury bills with that of long term treasury bill notes and bonds. In the US the treasury department issues treasury bills for terms less than one year, for terms of two, three, five and ten years. It also issue bond for 20 to 30 years.
Among the luxury goods produced in Mongolia are luxury clothing made from the finest wools, hides, and skins there. The country also exports machinery and equipment. The Republic of China is the leading trading partner of Mongolia accounting to a percentage about 95.5%.
This question is incomplete and below is the updated version
Select an answer which correctly completes the following statements.
a. A decrease in real GDP causes a (...) the money demand curve demand curve.
b. An increase in technology which makes it easier to pay for goods and services without carrying lots of cash causes a (...) the money demand curve.
c. A decrease in interest rates causes a (...) the money demand curve.
d. An increase in the aggregate price level causes a (...) the money demand curve.
Answer:
a. A decrease in real GDP causes a (leftward shift of )the money demand curve.
b. An increase in technology which makes it easier to pay for goods and services without carrying lots of cash causes a(leftward shift of)the money demand curve.
c. A decrease in interest rates causes a (movement along)the money demand curve.
d. An increase in the aggregate price level causes a (rightward shift of)the money demand curve.
Explanation:
a. A decrease in real GDP leads to reduction in the demand for money and the contraction of the economy and thus causes a (leftward shift of )the money demand curve.
b. An increase in technology which makes it easier to pay for goods and services without carrying lots of cash leads to a reduction in the desire to hold money and causes a(leftward shift of)the money demand curve.
c. A decrease in interest rates leads to higher desire to hold wealth as there is less incentive to invest or save and this causes a (movement along) the money demand curve.
d. An increase in the aggregate price level causes a greater demand for money and a (rightward shift of)the money demand curve.
