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    Factors of Production

    Microeconomics

    How is a strategic decision based on productivity and costs? Can you please explain the law of diminishing marginal productivity? Can you please explain the relationship between productivity and cost?

    comparing the value of food with the value of electricity

    A river has been used to irrigate farm land. A 3000 megawatt, coal-fired electric generating plant which would require about 40,000 acre-feet of water per year from the river. Operating the generating plant would mean less water for agriculture. The first part of the question is: which is more efficient use of the water fr

    Total Change in GDP

    I need some help with the following problem: Calculate the totals change in a year's GDP for each of the following scenarios: Remember old output is not calculated int he GDP only new output. a. You win $25,000 in your state's lottery. Ever the entrepreneur, you decide to open a Ping Pong ball washing service, buying $15,000

    Economic interplay in the airline industry

    "Economies of scope in the airline industry emerge from the interplay of economies of density and the properties of a hub-and-spoke network." Explain how the interplay between economies of density and the properties of hub-and-spoke networks give rise to economies of scope.

    Cost table with graphs using excel

    Using the following demand schedule, calculate total revenue, marginal revenue and own-price elasticity of demand. Then show the relation among marginal revenue, price and elasticity of demand. Quantity Marginal Elasticity Price Demanded Revenue Of Demand $60 8 50 16 40 24 30