Match the words in Column I with their meanings in Column 2. Write the letter on the line. Column 1 `
1. law of variable proportions.
2.production schedule.
3. marginal product
4.increasing returns.
5. diminishing returns.
6. third stage of production.
7. fixed costs.
8. variable costs.
9. total costs.
10. marginal costs
Column 2
A. expenses that remain the same no matter how much is produced
B. in the short run, changing one input changes the output
C. chart to help evaluate inputs and outputs
D. additional cost of producing one more unit
E. how much extra is produced by adding one input
F. stage of production with increasing production, but with a smaller marginal product
G. negative returns, when more input reduces production
H. include fixed and variable costs; change when variable costs change
I. the first stage of production
J. expenses that change with the amount of production

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

Suppose the real risk-free rate and inflation rate are expected to remain at their current levels throughout the foreseeable future. consider all factors that affect the yield curve. then identify which of the following shapes that the u.s. treasury yield curve can take. check all that apply.

Aproperty title search firm is contemplating using online software to increase its search productivity. currently an average of 40 minutes is needed to do a title search. the researcher cost is $2 per minute. clients are charged a fee of $400. company a's software would reduce the average search time by 10 minutes, at a cost of $3.50 per search. company b's software would reduce the average search time by 12 minutes at a cost of $3.60 per search. which option would have the higher productivity in terms of revenue per dollar of input?