Using a Cobb-Douglas production function, Y/N = (K/N)b, the marginal product of capital is
A) b(K/N)b-1.
B) b(K/N).
C) (K/N)b-1.
D) (K/Y)b.
A
Economics
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A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a store building that he owns and currently rents to his brother for $6,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What are his explicit costs?
a. $26,000 b. $52,000 c. $66,000 d. $78,000
Economics
The inflation rate you are likely to hear on the nightly news is calculated from
a. the GDP deflator. b. the CPI. c. the Dow Jones Industrial Average. d. the unemployment rate.
Economics