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The total product of the 10 employees of ABC is 10,000 bags. The firm is considering employing a Chinese worker whose marginal product is 900 bags. Each bag is sold at K10 and all the workers are paid a flat wage of K8, 900.
A. What is the average product before and after this worker is employed?
B. Should ABC employ the new Chinese worker?
C. What is the minimum marginal product that ABC can accept for any additional worker under the prevailing price and wage rate?
1. What are three common types of federal taxes? 2. What are two common types of state taxes?
Bill was new to the job, and it was also his first management post. He had taken over a department of twenty people and, although he had been looking forward.
Given that the net gain to society of the innovation is positive, why might a government still want to suppress the innovation?
If there are fixed costs of production in a competitive industry, the q that solves the firm’s first-order condition
Suppose the time (in hours) until a machine needs realignment for a manufacturing system to function properly is a Weibull random variable
What assumptions do you make answering this question. Elucidate distortions do you think would appear in the economy if such a tax were introduced.
What are the opportunity costs of reducing expenditures such as education and social services compared to raising taxes? Why? Explain what the rational choices are in that situation and what other options should be considered.
Using an example explain why negative externalities lead to inefficient overproduction and discuss one way government can ensure a more efficient outcome. Discuss using an example what are public goods and why does it lead to a free rider problem.
Create payoffs in the other cells such that the Nash equilibrium is that both firms advertise and lose $1 million each.
In the Republic of? Ragu, the currency is the rag. During? 2009, the Treasury of Ragu sold bonds to finance the Ragu budget deficit. In? all, the Treasury sold? 50,000 10-year bonds with a face value of 100 rags each.
Find the probability that the school will get 1 defective computer. Please use the binomial distribution as an approximation to find the probability.
(A) What is the EOQ for the mowers? (B) What will be the total inventory costs if the EOQ amount is ordered?
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