Suppose the firm's production function is given by q equals F left parenthesis K comma L right parenthesis equals K squared L with M P L equals K squared, M P K equals 2 K L.
The price per unit of capital is 20 and the price per unit of labor is 10. Find the cost minimizing quantity of labor to produce 150,000 units of output. Please round to the closest integer.

Is there such a thing as a social structure that constrains individual action, or is society nothing more than a figment of our imaginations?

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.

Recall that in one condition of the experiment conducted by stasser and titus (1985) about student council president candidates, all group members had access to the same information, and that in another condition, members had unique information that other group members didn't know. in the second (unshared information) condition, the group made a worse decision than in the first (shared information) condition. this occurred because groups seldom can agree on who is most expert. focus discussion on the information that all members know. often ignore dissenting opinions. avoid differences of opinion, given conformity pressures.