User Account

All Pages

Question regarding the optimal quantity of labor

Assignment Help Macroeconomics
Reference no: EM131063660

Assume the price of output is p = 10 dollars, the marginal product of labor is given by the equation MPL = 20 - (1/2)L, and the price of labor is wL = 100 dollars. Then, the optimal quantity of labor is

A) 5 Workers
B) 10 Workers
C) 20 Workers
D) 25 Workers

Reference no: EM131063660

Questions Cloud

Unique subgame perfect equilibrium : When do firms A and B exit in the unique subgame perfect equilibrium? (Hint: First establish at what time t profits turn negative as a function of the remaining firms, and then argue with generalized backward induction)
At some point in a ponzi scheme : 1. At some point in a Ponzi Scheme which of the following is not one of the three things that will happen: a.The promoters will vanish, taking all the investment money with them.
Determine the amino acid sequence using the genetic code : Assuming that the DNA sequence in Q2 is in frame and shows the TEMPLATE strand. Determine the amino acid sequence using the genetic code and give a chemical explaination as to why the drug binds better to the recessive allele
Shortage of manpower in the construction field : What policies can the government implement to help the UK citizens bring down the house prices? What can be done to improve the supplys of housing in UK and also to improve the shortage of manpower in the construction field?
Question regarding the optimal quantity of labor : Assume the price of output is p = 10 dollars, the marginal product of labor is given by the equation MPL = 20 - (1/2)L, and the price of labor is wL = 100 dollars. Then, the optimal quantity of labor is
Perspective on the use of game theory : Read "Game Theory Explained," located on the PBS website. Discuss your perspective on the use of game theory. How do "Nash Equilibrium" and the idea of one "player" impacting another "player" within an organization affect the economic decisions an..
Number of good components : A lot containing 7 components is sampled by a quality inspector. The lot contains 4 good components and 3 defective components. Find the expected value of the number of good components in this sample.
Why is it implausible that you could achieve : uppose someone is trying to teach you the meaning of the term ‘equal'. Why is it implausible that you could achieve that using only what is given to you from perception, through repeated experience? (If you prefer, imagine that someone is trying t..
Green economy in your country or region : "What steps if any, do you think should be taken to promote a green economy in your country or region? What steps would be most effective? Can you propose policies that businesses might support?"

Reviews

Write a Review

Macroeconomics Questions & Answers

  Government taxi authority

In Lumino City, the taxi industry is regulated by the Government Taxi Authority. A company can only supply taxi services, in Lumino City, if it is issued a licence by the Government Taxi Authority. (Note: A licence does not place a limit on the numbe..

  Keynesian model

Using the simple Keynesian model to assess the implications for equilibrium GDP and the level of savings of an increase in the savings function. What eventually happens to the level of savings? What would happen to equilibrium income if there is a su..

  The 2009 world development report provides the following

the 2009 world development report provides the following information for colombia and thailand. explain carefully what

  What annual sum must he set aside

An engineer wishes to have $5 million by the time he retires in 40 years. Assuming 15% nominal interest, compounded continuously, what annual sum must he set aside?

  1 discuss what is meant by fiscal policy2 what are the

1. discuss what is meant by fiscal policy.2 what are the instruments of fiscal policy?nbsp evaluate the effectiveness

  How nation is going to attain high level of economic progres

The secretary of state has asked you to prepare a memo describing the key policies and economic arrangements that a specific less developed country should follow in order to achieve rapid growth and higher income levels.

  Explain how is economic growth measured

How is economic growth is measured Which factor of economic growth is the most difficult to measure accurately Make recommendations on how the factor you identified can be measured more accurately.

  Economy also decreases taxes on all individuals except

The federal government, in an effort to stimulate the economy also decreases taxes on all individuals except those earning over $250,000 per year.

  Two important policy goals of the government and the fed

Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average of 3% per year. It is important to have the right mix of policies and that al..

  What impact will the increase have on the firms afc

Suppose a business experiences a sudden increase in its fixed costs. For example, suppose property taxes increase dramatically. What impact, if any, will this have the firm's AFC (average fixed cost), AVC (average variable cost), ATC (average tota..

  Explain about term opportunity cost

How a rise in the price of sugar affects the market for sodas - How federal government budget deficits affect interest rates.

  Equilibrium level of output and local bookstore sales

Derive the book supply curve where price is expressed as a function of output. Calculate the equilibrium level of output and local bookstore sales revenue.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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