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(i) Imagine that the wage rate (w) = 10 and cost of capital (r) = 0.1. Given this information, answer the following questions:
(a) Find the slope of the isocost line.
(b) What is the slope of the isoquant where it is tangent to this isocost line?
(c) If the marginal product of labour used in production at this point is 50 pencils per hour, what is the marginal product of capital used?
(ii) Zemaleck is a company which produces fabrics. The wage rate (w) is R100/hour; cost of capital (r) is 0.1; the machinery used is worth R20 000 and 20units of labour are used. Showing all working:
(a) Find the total cost of production.
(b) If 20 rolls of fabric are produced, what is the average cost of production?
Explain the connection between the vertical long-run aggregate supply curve and the vertical long-run Phillips curve.
What do you think is the most challenge issue we are facing today? What policies can help solve this challenge?
Draw the market for Highlighter pens, assuming that demand for the pens is relatively elastic. Show the equilibrium price and quantity in the market.
Ellen is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to get: Unemployment rate 5.0% Participation rate 62.5% Not in the labor force 60 million Find the labor force, the wor..
Discuss the impact of major accounting/financial scandals on investors’ asset preferences. In your opinion how do the scandals affect foreign markets? Discuss two macro variables that affect changes in interest rates/or markets. If you watch these va..
Research one case of trade restriction, implemented by any nation. Research your topic, using at least 2 sources, and write a brief report (approximately 2 pages) on your findings. Scoring Guide-International Economics, Scoring Standard
A. A simple regression TC = a + bQ is unable to explain 19 percent of the variation in total costs. What is the coefficient of correlation between TC and Q?
Explicate Illustrate what will happen to output and the cost level play in this adjustment.
Determine the cost trend of the intervention program since its implementation. Evaluate the success or failure of the intervention in achieving its objectives and develop conclusions. Defend the use of or discontinuation of the selected intervention.
Suppose both supply and demand decrease. What effect will this have on price?
1. you are a manager for a regional health system. using an estimate of the price elasticity of demand of -0.25 how
q.the kentucky derby is held the first saturday in may at churchill downs in louisville kentucky. the race track is one
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