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Let L denote the number of workers. The marginal product of labor is MP = 30 - L, and the wage for each worker is $10. The firm chooses to hire 2 workers. This implies that:
A. The price of output is $1 per unit or less.
B. The price of output is between $1 per unit and $2 per unit.
C. The price of output is between $2 per unit and $3 per unit.
D. The price of output is between $3 per unit and $4 per unit.
E. The price of output is between $4 per unit and $5 per unit.
F. The price of output is between $5 per unit and $10 per unit.
G. None of the above are true.
Explain the profitability of the Medical-Industrial-Complex (MIC), how the MIC makes the US medical system more expensive and the US economy less competitive.
Choco deliete is a manufacturer of fine chocolates. Its monthly rental expense is $1,000,000. It also has $2 million in fixed labor costs. its marginal costs are $.70 per chocolate bar. If sales fall by 30 percent from 2 million chocolate bars per mo..
q.a local pet store roscoes rascals elucidate which among them has concerted on selling puppies is considering adding a
Suppose that you can increase the d effect size while holding group sizes n1 and n2constant. How will an increase in d influence the magnitude of t ?
The federal minimum wage was last increased from $6.55 to $7.25 per hour. Suppose that the elasticity of labor supply of teenagers is 0.12. Using this estimate, by what percent would you expect teenagers’ quantity of labor supplied to change in respo..
Suppose the monopolist is regulated to charge a rate which covers all unit cost and total cost, what is this rate and how many units will the monopolist produce?
In 10 years from now, you want your investment to be able to be worth $50,000. To the nearest dollar, how much must you invest now in an account that will earn 10% compounded annually?
The field of organisation theory is characterised as a fragmented body of knowledge, with many competing theories to explain organisational action.
Consider an economy with the following Cobb-Douglas production function: derive the equation describing labor demand in this economy as a function of the real wage and the capital stock.
McKibben explains that a question arises about coastline retreat: Where should people go? This question is difficult to answer because rising temperatures are a
Consider a firm with the following cost function: TC = 8+5Q+2Q2 , the marginal cost associated with this function is MC = 5+4Q.
if the long run aggregated supply is drawn at an economy's natural rate of unemployment, how can any points on the short run aggregated supply lies to the right of long run aggregated supply?
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