Uses two inputs-skilled workers and computers

Assignment Help Business Economics
Reference no: EM13886770

Consider a firm that uses two inputs: skilled workers and computers. Explain what it means if skilled workers and computers are complements in production. Specifically, if the price of computers falls, and skilled workers and computers are complements, will the firm want to hire more or fewer skilled workers?.

Reference no: EM13886770

Questions Cloud

Calculate average velocity of the water : Calculate average velocity of the water leaving the disks. Also, calculate the average velocity of the water between the disks at a position where the radius of the disks is 10 cm.
Calculate angular momentum of particle relative to point : A small 60 g block slides down a frictionless surface through a height cm and then sticks to the lower end of a vertical rod of mass 150 g and length 50 cm. The rod pivots about a point near its upper end through an angle θ before momentarily st..
The demand for cigarettes is price inelastic : The demand for cigarettes is price inelastic, but not perfectly inelastic. The supply of cigarettes is elastic, but not perfectly elastic. If there were no price controls or other complicating regulations, what would a model of supply and demand ther..
Height of demand curve when it intersects the price axis : On a graph of supply and demand, which of the following is represented by the height of demand curve when it intersects the price axis?
Uses two inputs-skilled workers and computers : Consider a firm that uses two inputs: skilled workers and computers. Explain what it means if skilled workers and computers are complements in production. Specifically, if the price of computers falls, and skilled workers and computers are complement..
Assess this claim-is the reasoning solid or do you disagree : The human resource manager of the XYZ Company makes the following claim: “Our workers make an average of $500 per week. We produce $6000 worth of output each week using only 10 workers. That averages out to $600 per worker per week. We should therefo..
Presentation in your international business class : You have been asked to make a presentation in your International Business class about how globalization is impacting the auditing profession.
Firms isocost line assuming a total production cost : Consider a firm that uses both labor and capital in production. The price of capital is $20 per unit and the wage rate is $10 per hour. Draw the firm’s isocost line assuming a total production cost of $100. How steep is this line (that is, what is it..
Determine the velocities in both sections of the duct : Air ?ows in a 20-cm-diameter duct at 120-C and 120 kPa with a mass ?ux of 5 kg=s. The circular duct converts to a 20-cm square duct in which the temperature and pressure are 140-C and 140 kPa, respectively. Determine the velocities in both section..

Reviews

Write a Review

Business Economics Questions & Answers

  Permanent fund for supporting research on sustainability

A wealthy businessman wants to start a permanent fund for supporting research on sustainability. The donor plans to give equal amounts of money for each of the next five years, plus one gift now (i.e., six donations in total), so that $100,000 per ye..

  The idea of the law of demand

The idea of the Law of Demand, as applied to electric cars, assumes which of the following to be constant? When economists say that the demand for a product has decreased, they mean that:  Which of the following will not cause a change in the demand ..

  Explain how much shelter

Explain how much shelter can she buy if she purchases 2 units of food.

  In the case of spillover benefits or costs

A market in which there is an additional transaction that would benefit a buyer, a seller, and any third parties affected by the transaction is called. In the case of spillover benefits or costs,

  Bertrand price competition

The two firms have the same demand curve P=100-4Q, Marginal cost of Firm 1 is 5 and for firm 2 is 10.

  What is the current household saving rate

What is the current household saving rate in the United States? What do you think of this saving rate? Too high or low?

  Isoprofit line method or corner point method

An appliance manufacturer produces two models of microwave ovens: H and W. Both models require fabrication and assembly work; each H uses four hours of fabrication and two hours of assembly, and each W uses two hours of fabrication and six hours of a..

  Retirement benefits-what is the replacement rate

If your average pre-retirement earnings were $30,000 per year, your highest preretirement earnings achieved was $90,000 per year and you receive $20,000 per year in retirement benefits, what is the replacement rate?

  Redstone wishes to maximize profit margin

Arizona and manufactures clay fire pits for patios. They are one of about two dozen firms around the world that manufacture and sell clay fire pits for retailers such as Home Depot, Lowe’s, Front Gate, and other upscale home product chains. If Redsto..

  What is the value of statistical life

Now assume there are 6,350 employees and probability of dying is still 1in 5,000. What is the value of 1 statistical life?

  Illustrate what emissions fee should be imposed to achieve

Illustrate what emissions fee should be imposed to achieve the cost-effective outcome. How much would each firm pay in taxes.

  Under a situation of majority voting

How can a small special-interest group win, since the benefits flow only to a small group, under a situation of majority voting?

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