Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Calculating the Marginal Product of Labor
Emily draws cartoons that she sells to her classmates. Her average product of labor is five cartoons per hour if she works for one hour, four per hour, if she works for two hours, three per hour if she works for 3 hours, and two and a half per hour if she works for four hours. What is her marginal product of labor at one, two, three, and four hours of work?
What is the profit maximizing output level for the typical firm? (Hint: Calculate MC for each change in output, then find the equilibrium price, and calculate MR for each change in output)
Suppose a risk-averse consumer has an initial wealth of $5,000 and a utility function U(M) √M.. He faces an 80 percent chance of losing $4000, and a 20 percent chance of losing $0.
Discuss briefly what you think the way in which the HDI is constructed. (Briefly means no more than five lines of text. Excesses are severely penalised.)
Using above demanded schedule, find out the elasticity of demand for each price change. (Example: when price changes from $5 to $10, quantity demanded changes from 1000 to 800 oz., so the elasticity of demand, by using average values, is 1/3 or 0...
What elasticity of demand did the Village Administrator seem to assume here in his prediction for 1970- 1971? Compute the approximate elasticity of demand (round off, two decimal places is close enough).
Briefly discuss and illustrate the circumstances under which the minimum wage would (1) not lead to unemployement, amd (2) not cause a reduction in the total earnings of low-wage workers who are still employed.
An entrepreneur plans to convert a building she owns into a video-game arcade. Her main decision is how many games to purchase for the arcade.
During the late 1990s, several mergers among brokerage houses resulted in the acquiring firm paying a premium on the order of $100 for each of the acquired firm's customers.
Elucidate tools are used to accomplish conscious fiscal policy.
You are the manager of a local sporting goods store. Given the reservation prices, determine your optimal bundle pricing strategy.
Assume that there're 10 million workers in Canada and South Korea and each worker in Canada and South Korea can manufacture four cars per year.
For each of the following pairs of goods, would you expect the cross-elasticity of demand to be positive or negative? Large (in absolute value) or small? Defend your answers:
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd