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It’s easy to determine if a firm is making long-run production decisions by looking at its cost structure because, in the long run, a firm does NOT have any __________ costs.

Lester owns a home furnishings manufacturing shop that produces, among other things, framed mirrors. She has four employees; they can produce 25 mirrors per day. If she hired a fifth employee, she’d be able to produce 30 mirrors per day. Therefore, the marginal product of the fifth employee is __________ framed mirror(s).

Which is an example of an excludable good?

Raul owns and manages a men’s barbershop. He himself does not give haircuts. His total revenue last year was $400,000. Of that, his barbers got $210,000, and his rent was $6,000 per month. His other expenses totaled $1,000 per month. Raul could earn $55,000 per year cutting hair as a barber in someone else’s shop. His implicit costs last year were

Refer to the accompanying graph to answer the next eight questions. At the market equilibrium, price is equal to ________, and ________ units of the good are produced.

Condense 8log6x+15-4log6x+14-3log6x-16 as a single logarithm with no negative exponents.  Show all steps between the original expression and your final answer. Enter your answer in Bb using the Math Editor.

Evaluate the following logarithm using your calculator.  Round your answer to three decimal places. a. log19b. ln35

Solve the equation. Leave your answer in exact form:  Show all steps on paper to receive credit. log38x+27=log33Enter your answer in Bb using the Math Editor.

Rewrite the following in logarithmic form: a. 84=4096b. 103=xc. ex=1

a. Find the time it takes for $9000 to double when invested at an annual interest rate of 15%, compounded continuaously. b. Find the tiem it takes for $900,000 ti double when invested at an interest rate of 15% compounded continuously.