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Japanese labor productivity is roughly the same as that of the United States in the manufacturing sector (higher in some industries, lower in others), while the United States is still considerably more productive in the service sector. But most services are non-traded. Some analysts have argued that this poses a problem for the United States, because our comparative advantage lies in things we cannot sell on world markets. What is wrong with this argument?
Assume that the company is currently producing 248 units of output per day using 2 units of X and 4 units of Y. The daily cost per unit of X is $135 and that of Y is also $135. Would you recommend a change in the present input combination.
Cindy consumes goods x and y. Her demand for x is given by x(px, m) = 0.05m -5.15px. Now her income is $419, the price of x is $3, and the price of y is $1. b. Compute the demand of x under the new price.
Will you change your preferred mode of transportation if your wage rate rises to $20 per hour. Assume you work five days a week and time spent riding on a bus or driving a car does not directly enter your utility.
(c) What is the variable cost of producing 40 units of output (d) How many units of the variable input should be used to maximize profits (e) What are your maximum profits (f) Over what range of variable input usage do increasing marginal returns exi..
Write a 3+ page, double-spaced essay: Explain the organizational archetypes as described by Mintzberg and discuss how organizational structure influences innovation.
A man borrows $120,000 to buy a home. The interest rate is 4.5%, compounded monthly, and its period is 30 years. a) What will be the monthly payment (equal payments) for the life of the loan
Suppose that the market price for a bottle of vitamins is $2.50 and that at that price the total market quantity demanded is 75,000,000 bottles. Suppose that, instead, the market quantity demanded at a price of $2.50 is only 75,000. How many firms ..
Suppose you obtain α^ and Var^(α^). Describe how to obtain the confidence interval at the 90% confidence level for α
How do they affect the factor-price equalization theorem?
A state meat inspector in Iowa has been given the assignment of estimating the mean net weight of packages of ground chuck labeled "3 pounds." Of course, he realizes that the weights cannot be precisely 3 pounds. A sample of 36 packages reveals th..
Determine one possible combination of government spending increases and tax increases that would accomplish the same goal without changing the amount of outstanding debt.
Do you anticipate any changes to the demand and/or supply of this product in the near future? If so, what is driving these changes?
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