5. A Örm uses capital and labor to produce output according to the production function q = 4p KL, for which MPL = 2p K=L and MPK = 2 p L=K. a. If the wage w = $4 and the rental rate of capital r = $1, what is the least expensive way to produce 16 units of output?

Goods and services that can be used for the same purpose are and goods and services that are used together are

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

In terms of precent, beer has more alcohol than whiskey true or false