What is the firm''s total wage bill

Assignment Help Microeconomics
Reference no: EM13877308

Assume the wage rate is $5 and the firm's fixed cost is 828. If demand for the firm's output is P = -3Q + 460

(a) What is the firm's profit maximizing level of output and employment?

(b) What is the firm's total wage bill?

(c) What is its profit?

Reference no: EM13877308

Questions Cloud

The use of one learning pattern to another : 1. A person who can feel themselves shifting from the use of one Learning Pattern to another is a(n)        Dynamic learner.        Bridge learner.
What is the firm''s revenue maximizing output, price : A monopolistically competitive firm has a short run production function given by Q = 2L0.5 Assume the wage rate is $10, the firm's fixed cost is 500, and demand for the firm's output is P = 600 - 3Q Suppose the firm's goal is to maximize its sales ..
International business in a multi cultural world : Meaning and Definition - Nature - Forms of International Business - Approaches to International Business - Theories of International Trade - Mode of entry into international business
Find the short-run competitive equilibrium : Find the short-run competitive equilibrium: the price per ride, number of rides per day, and the profit per cab per day. Is the taxicab market in long-run equilibrium?
What is the firm''s total wage bill : Assume the wage rate is $5 and the firm's fixed cost is 828. If demand for the firm's output is P = -3Q + 460- What is the firm's profit maximizing level of output and employment?
Reply to the given classmates posts : Directions: In 200-300 words you must reply to both of the classmates post below. Be sure to label each reply so that I know which one you are addressing. Please note that "I like what you said," "That's a good point," and "I disagree with your po..
Explain why moving prices towards costs : Explain why moving prices towards costs is not a Pareto improvement, but is a potential Pareto improvement.
Stress-strain behavior for a steel alloy : Figure shows the tensile engineering stress-strain behavior for a steel alloy. (a) What is the modulus of elasticity?
What is the firm''s total wage bill : A firm is competitive in both product and resource market. The firm's short run production function is given by Q = 0.5L1/2 where L is the labor input. Assume the wage rate is $10 and the firm's fixed cost is 100. If the price of the good in the m..

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the socially efficient level of security

a) What is the socially efficient level of security?

  A manufacturer of microwaves has discovered that male

a manufacturer of microwaves has discovered that male shoppers have little value for microwaves and attribute almost no

  Decisions are made according to the permanent income theory

Assume that consumption decisions are made according to the permanent income theory. Which of the following would lead to the largest increase in current consumption?

  What fact might lead the manager to be concerned

What fact might lead the manager to be concerned? If true, what do you think is likely to happen to the price of products G.R. Dry Foods sells?

  To improve cost function for better understand

If Alisha Maintenance manufacturing then how would Alisha's management improve its cost function to better understand their past maintenance costs and predict future maintenance costs.

  Relationship between money supply and interest rate

What is the relationship between money supply, interest rate, and exchange rate

  For given set of scores calculate the range why is unbiased

for the following set of scores compute the range the unbiased and the biased standard deviations and the variance. do

  You cats summer kitty-cottage needs a new roof you are

you cats summer kitty-cottage needs a new roof. you are considering the following two proposals and feel a 15-year

  Production and shipping costs

Declare your topic to the class by posting a new thread in the related DB forum and titling it with the key term you selected.

  Interviewing three candidates for one sales job position

You are interviewing three candidates for one sales job position. On the basis of your experience and insight, you believe Jane can sell 600 units a day, Joe can sell 450 units a day, and Joan can sell 400 units a day. The daily salary each person is..

  Te demand for tickets at each game is q 100000 - 6000p

the demand for tickets at each game is q 100000 - 6000p. if the capacity of the stadium at that university is 40000

  What is the effective interest rate per year

College Financial Sources, which makes small loans to college students, offers to lend $500. The borrower is required to pay $40 at the end of each week for 16 weeks. Find the interest rate per week. What is the nominal interest rate per year

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