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Consider a firm for which production depends on two normal inputs, labor and capital, that are not perfect complements. Initially the firm faces market prices of w = 10 and r = 8, for labor and capital. These prices then shift to w=7 and r=7.
a) In which direction will the substitution effect change the firm's employment and capital stock?
b) In which direction will the scale effect change the firm's employment and capital stock?
c) Can we say conclusively whether the firm will use more or less labor? More or less capital?
Compare and contrast the ticket prices and product offerings of the two airlines. Use care that the fares are comparable by examining ancillary charges. What conclusions do you draw about pricing and products?
Suppose that a security costs $3,000 today and Pays off some amount b in one year. Suppose that B. is uncertain according to the following table of Probabilities:
Does the covered interest parity condition hold? Why or why not?b. How could you make a riskless profit without any money tied up assuming that there are no transaction costs in buying and or selling foreign exchange?
Suppose a society decided to reduce consumption and increase investment. How exactly would this change affect long term economic growth?
Illustrate what do you think causes changes in each of the expenditure (spending) components of GDP thereby causing changes in our economy's output, employment, and income levels.
Compute the average product of labor, APL, when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 81 units of labor.
Suppose the cross-price elasticity of demand between goods X and Y is -1. How much would the price of good Y have to change in order to change the consumption of good X by 30 percent?
Assume the full- unemployment rate is 5% . What could the Fed do in 2002-2003 in order to bring the economy back to full-unemployment ? What did the Fed actually do? Explain in detail
The gross domestic product of countries Babistan, Turma, and Deru are $1,500, $2,500, and $3,500, respectively. There are 1,500 miles between country Babistan and countries Turma, and Deru. Does the gravity equation predict that there will be more tr..
Do a thorough online search for a Journal article that addresses Trends in Corporate Sustainability Reporting. Your paper can focus on a specific country such as the United States, United Kingdom, the European Union, the Developing Countries, Japan, ..
Future costs as well as future payments have present values. For example, some researchers say that global warming could cost $1 trillion per year in 100 years. Using the present value formula and an interest rate r = 5%, one researcher (William Nord..
Use the accompanying graph to illustrate the short-run equilibrium of a monopolistically competitive firm. (b) At the equilibrium, what is (i) Price? (ii) Output? (iii) Total profit? (c) Identify the long-run equilibrium of the same firm. (d) In long..
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