Y = AK^αL^1-α R/P = αAK^α-1L^1-α
W/P = (1 - α)AK^αL^-α
L = 1/P[(N - (R/P/W/P) K]
Y = C
Suppose that that K doubles and A decreases. Construct a pair of well-labeled diagrams of equilibrium in the factor markets to show how the change in A affects the supply of capital, the supply of labor, the real wage, and the real rental rate. Write down either in words or symbolically how the change in A would affect output Y and consumption C.

The questions of economics address which of the following ? check all that apply

Assume a competitive firm faces a market price of $60, a cost curve of c = 0.003q^3 + 25q + 750, and a marginal cost of curve of: mc = 0.009q^2 + 25.the firm's profit maximizing output level (to the nearest tenth) is , and the profit (to the nearest penny) at this output level is $ will cause the market supply to (shift right/shift left). this will continue until the price is equal to the minimum average cost of $

The food services division of cedar river amusement park inc. is studying the amount families who visit the amusement park spend per day on food and drink. a sample of 40 families who visited the park yesterday revealed they spent the following amounts: see worksheet 1 for data and answer the following questions: a. organize the data into a frequency distribution, using seven classes and 15 as the lower limit of the first class. what class interval did you select? b. what percent of families spent less than $45? c. what percent of families spent $55 or more? d. how many families spent from $65 to 74.99?