You are a manager for herman miller—a major manufacturer of office furniture. you recently hired an economist to work with engineering and operations experts to estimate the production function for a particular line of office chairs. the report from these experts indicates that the relevant production function is: q = 2(k)1/2(l)1/2 where k represents capital equipment and l is labor. your company has already spent a total of $8,000 on the 9 units of capital equipment it owns. due to current economic conditions, the company does not have the flexibility needed to acquire additional equipment. if workers at the firm are paid a competitive wage of $120 and chairs can be sold for $400 each, what is your profit-maximizing level of output and labor usage?

Alarge university wanted to study the relationship between completing an internship during college and students' future earning potential. prom the same graduating class, they selected a random sample of 80 students who completed an internship and 100 students who did not complete an internship and examined their salaries five years after graduation. they found that there was a statistically higher mean salary for the internship group than for the noninternship group. which of the following interpretations is the most appropriate? a. there could be a confounding variable, such as student major, that explains the difference in mean salary between the internship and no internship groups.b. we cannot infer anything from these data since the distribution of salaries is likely right skewed.c. you cannot draw any valid conclusions because the sample sizes are different.d. more students should complete internships because having an internship produces a higher salary.