Two Firms, Wickedly Efficient Widgets (WEW) and Wildly Nepotistic Widgets

question 75

Multiple Choice

Two firms, Wickedly Efficient Widgets (WEW) and Wildly Nepotistic Widgets (WNW) , both produce widgets, using the same production function , where K is the amount of labor used and L is the amount of capital used. Each company can hire labor at $1 per unit of labor and capital at $9 per unit. Each company produces 90 widgets per week. WEW chooses its input combinations to produce in the cheapest way possible. Although it produces the same output per week as WEW, WNW is required by its dotty CEO to use twice as much labor as WEW. How much higher are WNW's total costs per week than WEW's?

• A) $270
• B) $67.50
• C) $275
• D) $135
• E) $132

Identify the significant figures and their viewpoints around the drafting of the Constitution.

Evaluate the economic landscape of the United States in the 1780s and its impact on various social groups.

Understand the significance of Shays's Rebellion and its role in shaping federal power.

Understand the implications and outcomes of the Northwest Ordinance of 1787.

---

Definitions:

Patient Belief

The convictions or acceptance that patients hold regarding their health, treatments, and the healthcare system, which can influence their healthcare decisions and behaviors.

Diffusion of Innovations

Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread within cultures and societies, from inception to widespread adoption.

Maintenance

The work required to keep something, such as a building, machine, or system, in good working order or condition.

Implementation

The process of putting a decision or plan into effect; the execution of a policy, program, or project.