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1) The value of marginal product of labor curve A) is upward sloping because firms want to hire more workers to increase production. B) is downward sloping if each additional worker's marginal product is decreasing. C) shows the price of a factor of production multiplied by the amount of the factor employed. D) is U-shaped. E) is the same as a firm's supply of labor curve.
2) As the price of land rises, the quantity supplied A) at first increases and then decreases. B) decreases. C) stays the same. D) increases. E) at first decreases and then increases.
3) Which of the following is true? A) The value to a firm of hiring another worker is the worker's value of marginal product. B) The value of marginal product equals the price of the good produced divided by the marginal product. C) The value of marginal product is the cost of hiring a worker. D) The value of marginal product increases as more workers are hired. E) A firm will hire more workers if the wage rate is greater than the value of marginal product.
If the actual price in this market were below the equilibrium price, illustrate what would drive the market toward the equilibrium.
GB540 - Economics for Global Decision Makers - Purpose of assignment is to provide you with an opportunity to research and analyse two trading partners of Australia.
Illustrate what is the total opportunity cost of the day that Farmer Tony incurred for his spring day in the field planting wheat.
Suppose an industry is monopolized, and the demand for the product sold by the firm is given by: Q = 200 ? 4P. At what price range should the monopoly firm raise the price in order to increase revenues?
Which of the following methods cannot be applied for finding the initial solution of a transportation problem?
Suppose that the U.S. the demand for phones is given by P=700-Q that the supply is given by P=200+Q. In Korea suppose the demand is given by P=600-Q and supply is given by P=50 + (Q/2).
In order for you to be indifferent between the after tax returns on a taxable bond paying 2.49% and a tax-exempt bond paying 2.12%, what would your tax bracket need to be? (How to calculates )
Illustrate who benefits more from a transaction of the good or service, the buyer or the seller. Generally speaking, why do people enter into trade.
use the shifts of appropriate curves to show why the combination of rising incomes plus price ceilings produced shortages and lines. Finally, show what happened when price controls were removed.
Suppose in the first five years of working for ABC Corporation Emily earns $50,000 a year after taxes, but ABC makes no yearly contribution toward a retirement plan for her. However, after five years ABC offers Emily a choice of receiving a $5,000 af..
Illustrate what factors do you use to determine whether to invest in the additional capital and labor.
Portfolio Risk and Return. Suppose that the S&P 500, with a beta of 1.0, has an expected return of 13% and T-bills provide a risk-free return of 4%. How would you construct a portfolio from these two assets with an expected return of 8%? Specially wh..
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