Illustrate what is the unemployment rate

Assignment Help Business Economics
Reference no: EM1348764

Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. Illustrate what is the unemployment rate? Karen sharpens knives in her spare time for extra income. Buyers of her service are willing to pay $2.50 per knife for as many knives as Karen is willing to sharpen. On a particular day, she is willing to sharpen the first knife for $1.75, the second knife for $2.25, the third knife for $2.75, and the fourth knife for $3.25. Assume Karen is rational in deciding how many knives to sharpen. Her producer surplus is

1. $1.75.

2. $0.50.

3. $0.25.

4. $1.00.

 

Reference no: EM1348764

Questions Cloud

Element to retaining and attracting consumers : Trust issues is another key element to retaining and attracting the consumer and personal information is a definite red flag to the consumer that this is a fraudulent website.
Explain among the list of traditional duties : Explain Among the list of traditional duties, what is the single most important measure of an effective board and why
Explaining stepwise refinement and refactoring : Are stepwise refinement and refactoring the equivalent thing ? If not, describe how do they vary? Term component is sometimes a difficult one to define.
Managerial competencies for strength : Which program outcome do you think might add the most value for you? Which managerial competencies reflect current strengths for you?
Illustrate what is the unemployment rate : Illustrate what is the unemployment rate. Karen sharpens knives in her spare time for extra income.
Discuss the random walk hypothesis : Discuss the random walk hypothesis? Does research evidence tend to support or deny the validity of this hypothesis?
How many wavelengths are contained in distance : A copper laboratory tank has a diameter of 0.48 m at 20degree celcius. what would be the new diameter if the tank is filled with 80degree celcius alcohol.
Qualitative and quantitative approaches : Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making?
Trust as defined by a marketer and consumer : Based on the attached reading on what does "Trust" mean to you as a Marketer?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd