The reason for the U.S to remain as the biggest national economy of the world.

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Answer 1

Question

Chapter 2, Problem 1DQ

To determine

The reason for the U.S to remain as the biggest national economy of the world.

Expert Solution & Answer

Explanation of Solution

United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.

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2. A firm’s production function is given by:Q = 10KLThe unit capital and labour costs are 2 and 1 pounds respectively. The firm is contracted to produce2000 units.(a) Write out the optimisation problem of the firm. (b) Express this problem using a Lagrangian function. (c) Find values of K and L which fulfil the contract with minimal cost to the firm. (d) Calculate the total cost to the firm.

Answer 2

Question

Chapter 2, Problem 1DQ

To determine

The reason for the U.S to remain as the biggest national economy of the world.

Expert Solution & Answer

Explanation of Solution

United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.

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Answer 3

Question

Chapter 2, Problem 1DQ

To determine

The reason for the U.S to remain as the biggest national economy of the world.

Expert Solution & Answer

Explanation of Solution

United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.

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Answer 4

Question

Chapter 2, Problem 1DQ

To determine

The reason for the U.S to remain as the biggest national economy of the world.

Expert Solution & Answer

Explanation of Solution

United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 2, Problem 1DQ

To determine

The reason for the U.S to remain as the biggest national economy of the world.

Expert Solution & Answer

Explanation of Solution

United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.

Answer 6

Chapter 2, Problem 1DQ

To determine

The reason for the U.S to remain as the biggest national economy of the world.

Expert Solution & Answer

Explanation of Solution

United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.

Answer 7

Chapter 2, Problem 1DQ

To determine

The reason for the U.S to remain as the biggest national economy of the world.

Answer 8

Expert Solution & Answer

Explanation of Solution

United State is the largest national economy in the world. The reason for the U.S to remain as the biggest national economy is the existence of productive population or productive labor force in the economy and accumulated wealth of the nation.