Suppose the marginal product of labor

Assignment Help Business Economics
Reference no: EM133077373

Suppose the marginal product of labor is 8 and the marginal product of capital is 2. If the wage rate is $4 and the price of capital is $2, then in order to minimize costs the firm should use

Reference no: EM133077373

Questions Cloud

Equivalent annual net benefit method : A. A person's demand for a good is given by the following equation:q = 7 - 0.4p + 0.0002I where, q is the quantity demanded at price p when the person's income
Calculate the producer surplus in the market : A. The initial cost of constructing a permanent dam (i.e., a dam that is expected to last forever) is $800 million. The annual net benefits will depend on the a
Population to the endangered subspecies population : 1. If you have two genetically isolated populations of a species (i.e. there is no natural gene flow between the two populations) and one of them is listed as a
What is your required rate of return : The yield on long-term US Treasuries at the beginning of 2002 was 5% and you require a 5% risk premium for this stock. What is your required rate of return
Suppose the marginal product of labor : Suppose the marginal product of labor is 8 and the marginal product of capital is 2. If the wage rate is $4 and the price of capital is $2, then in order to min
What is the implied one-year forward rate from now : If the current 4-year yield on government bonds is 4.0% and the current 3-year yield is 2.3%, what is the implied 1-year forward rate 3 years from now
What are some problems that can occur with bartering : 1. What items in the past have been used as a medium of exchange? 2. What are some problems that can occur with bartering?
What is price discrimination : Q1) Compare the quantity and price of an oligopoly to those of a competitive market.
What is the net amount of re-measurements for current year : Increase in projected benefit obligation due to change in actuarial assumptions 400,000. What is the net amount of re-measurements for current year

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