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A firm’s production function

by | May 18, 2021 | Micro Economics

1. A firm’s production function is, where Lde notes the size of the workforce. Find the value of MPL in the case when:(a) L=1, (b) L=10, (c) L=100, (d) L=1000 Does the law of diminishing marginal productivity apply to this particular function? 2. Show that the price...

Cooperation & Coercion

by | May 15, 2021 | Micro Economics

Write a one-paragraph summary for each of the 12 items listed below. Title each paragraph with the title of the item. The summary should be a factual representation of the main point(s) of the video or reading. Most of the videos are short (under 5 minutes length) 1....