Economics 500 – Problem Set #3 Consider a firm producing an output Q using the two inputs “labor” (L) and “capital” (K) according to the production function Q = K.5L.5 (i.e.‚ the amount of output produced Q is equal to the square root of K times the square root of L). Suppose that the firm is in a short-run situation in which K is fixed at one unit (K = 1) but labor is variable. Suppose that the user cost of capital‚ r‚ is $48 for each unit of K and that the wage rate‚ w‚ the cost of one unit of labor
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Unit 5 Introduction to Accounting D1 Recommend and justify actions a business might take when experiencing cash flow problems. When experiencing cash flow problems there are a few recommendations to make‚ these problems include: • Being overdrawn on consecutive months. • Having too much money • Difficulty in predicting costs When being overdrawn on consecutive months you should look to cut back on immediate expenses such as insurance‚ suppliers‚ rent and employees. You could
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Communication Method General Description Of Method Written / Non Written Electronic / Non Electronic Advantages Consider communication skills Disadvantages Consider communication skills Is it suitable for Everyone? Possible Adaptations Letter An external purpose. They can be informal or formal. Written document sent through the post. Received by an individual or group. Written Non electronic but it can also be electronic using a word processor on a computer‚ but it can also be
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Question Options Answer 1. A negative dual price for a constraint in a minimization problem means 1. as the right-hand side increases‚ the objective function value will decrease. 1 2. as the right-hand side decreases‚ the objective function value will decrease. 3. as the right-hand side increases‚ the objective function value will increase. 4. as the right-hand side decreases‚ the objective function value will increase. 5. - 1. Which of the following
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retail bank overcomes the limitations of thirty-year-old "legacy" microeconomics systems to launch a high-tech operation that offers its customers a complete range of banking services over the telephone. Another bank is able to roll out‚ within three months of an acquisition‚ information systems that deliver the same level of service to all customers at all branches‚ new and old. (Richard 2002‚ 177) For these companies‚ Microeconomics has genuinely become an enabler of change that boosts competitive
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Short Answer 1-7 on page 111 1. How do modules help you to reuse code in a program? If a operation needs to be performed in several places‚ the same module can be called and re-used cutting down on unnecessary code. 2. Name and describe the two parts that a module definition has in most languages. The two parts are a header and a body 3. When a module is executing‚ what happens when the end of the module is reached? It jumps back to the part of the program that called it. This is known as the return
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SC1130-Survey of the Sciences Unit 4 Assignment 1 The Science of Fireworks We have been watching fireworks for hundreds of years‚ so we’ve had time to get it right. And yet every year‚ something new and bigger is always on display. It is still the one thing in life that can fill both children and adults with a sense of awe and wonderment. But how does it work? Let’s start at the beginning‚ before the big show. There are four basic components that give the firework that bright burst of multi
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Task 1 1. Nowadays‚ majority of projects‚ irrespectively of their scope or nature‚ can be outlined by various charts and diagrams. Such kind of representation of a project gives a clear picture of the project’s activities along with their start and finish dates and the sequence they are performed. This also aims to provide smooth coordination and implementation of the project‚ which is very crucial to the management. One of the most convenient and practical ways to represent a project in
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Problem 1: A project of equipment purchase of Mekong Company Ltd. has the estimated data as follows: The cost of equipment is USD 12‚000‚ the cost for transportation and installation is USD 1‚000 USD. The asset is depreciated according to a straight line depreciation scheme within 5 years. It is expected that the project can produce and sell 7‚500 units of product at the price of USD 2 per unit‚ for the first year. The operating costs for the first year (excluding depreciation) are estimated
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Unit 1 Assignment: Understand Child and Young Person Development Assignment overview Introduction This assignment is intended to provide evidence of a candidate’s knowledge and understanding of children and young people’s development birth to 19 years. By completing all tasks within the assignment‚ the candidate will provide evidence that meets the Learning Outcomes and assessment criteria for Unit 1‚ Understand Child and Young Person Development. Tasks There are five tasks to this
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