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Supposed that firms only variable input is labor when 50 workers are used, the average product of labor is 50, and marginal product of the 50th workers is 75. The wage rate is $80, and the total worker is 75. Wage rate is $80, and the total cost of the fixed input is 500.A. What is average variable cost? Show your calculation.B. What is marginal cost? Show your calculations.C. What is average total cost? Show your calculations.D. Is each of the following statements true or false? Explain your answer.1. Marginal Cost is increasing2. Average variable cost is increasing3. Average total cost is decreasing
Calculate the slope of the AE curve and the size of the multiplier if MPS = 0.20. Then, calculate the revised slope of the AE curve and the multiplier when you know that the imports and the marginal tax rate will reduce the slope of the AE curve b..
A careful investor saved $1,200 each year for 20 years. One year after the savings period ended, the investor withdrew $7,500 each year for a period of 5 years. In the sixth and seventh year, the investor withdrew $4,500 each of those years.
A manufacturer producing ball bearings claims that the mean weight of ball bearings produced is 5 ounces. The distribution is known to be normal with standard deviation 0.1 ounces. A random sample of 16 ball bearings is taken and their mean weight..
A company desires to estimate the cost of building a 600-MW fossil-fuel plant for the assembly of its new long-distance aircraft. It is known that a 200-MW plan cost $100 million 20 years ago when the approximate cost index was 400, and the cost i..
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following c..
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys 5 red apples and 2 green apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 1 red apple and 7 green apples. Compute a ..
Three students have each saved $1000. Each has an investment opportunity in which he or she can invest up to $2000. The rates of return on the students' investment projects are: Harry: 5% Ron: 8% Hermione: 20%.) If borrowing and lending is prohibit..
find the covariance between hourly wage X and education Y (measured in years of schooling) using the following summary statistics for a sample of 10 workers in a plant. xbar = 11.775 ybar=13.8 sum of (x-xbar)(y-ybar) = 103.55 sum of xy =1728.5
Year Nominal GDP (in billions) GDP Deflator data (base year 2005) 2009 $14,256 109.8 1999 $9,353 86.8 What was real GDP in 1999 measured in 2005 prices? Round your answer to the nearest cent. What was the growth rate of real GDP from 1999 to 2009? R..
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary policies would be appropriate at this time Can I please have ..
Plant B was constructed 2 months ago; it has a pollution abatement cost of 10c2. Assume that neither plant is initially engaging in pollution abatement. The per unit benefit to a unit of pollution abatement is constant at $1500. Unless told otherw..
The number of people without jobs who had stopped looking for one, believing that there were no jobs out there for them, was about 80,000, which represented a fifth of those not in the labor force. Further, the number of people with jobs throughou..
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