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Consider a landowner who would like to plant corn. Suppose that Alfred, a highly experienced farm laborer and ex-macho dancer, can produce 80 extra sacks of corn per month, but demands a wage of 60000 Php per month. Corn costs 900 Php per sack.
a. Should the landowner hire Alfred to plant corn?
b. What will be the marginal cost of the land owner to produce 80 extra sacks of corn?
c. What will be Alfred's marginal revenue product?
Discuss the tools of Monetary Policy in the United States. Discuss the effects of each tool and explore the associated impact on conflicting goals.
Thoroughly and completely explain the following graph of market equilibrium. i. Explain what market clearing equilibrium means. 1. Explain what this really means. Please be thorough. ii. Discuss what happens at a price above and below the equilibrium..
Elucidate what is the new market price. How many Frisbees are sold angry students marched to Washington, asked Frisbee price.
There will be a separating equilibrium in which anybody who attends a course of H hours of lectures is paid $5,000 per month and anybody.
Specify and explain the typical shapes of marginal-benefit and marginal-cost curves. How are these curves used to determine the optimal allocation of resources to a particular product? If current output is such that marginal cost exceeds marginal ben..
What is the z score of the local county preschools? Calculate the number of accidents of the local preschool (i.e. determine its "raw score").
Lisa is choosing between three alternatives: a) working on her job that pays her 60 dollars; b) writing a term paper which she values at 40 dollars; or c) going out with a friend, which she values at 80 dollars. The opportunity cost of writing the te..
Provide web links for colleagues to use to get additional information about the techniques and tools.
In a certain economy that produces only one good, corn, people live two periods and value consumption in period 1 at C2/C1 units of consumption in period 2-that is, they would be willing to give up as much as C2/C1 units of consumption in period 2 to..
Using diagrams, explain short run and long run profits and losses in a perfectly competitive market
Suppose there are two industries, airlines (A) and breweries (B), and that the demand for secretatrial labor, E, in each industry is EA = 25 – wA and EB = 20 – 2 wB. If the supply of secretarial labor is E = 2 w, then what are the equilibrium wage an..
When the price level is low and the demand for domestic goods increases, how does it affect international trade?
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