Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Determine the value of the marginal product of labor.
Equilibrium in the Labor Market
Each firm will hire labor up to the point at that the value of the marginal product of labor is equivalent to the equilibrium wage rate as:
VMPL = Wage or MRP = Wage (AP)
Into equilibrium, the marginal product of labor will be similar for all employers.
Therefore the equilibrium or market wage rate is equivalent to the equilibrium value of the marginal product.
a. The market labor demand curve is the horizontal total of the individual labor demand curves of all makers.
b. Labor is paid its equilibrium value of the marginal product, the value of the marginal product of the previous worker hired into the labor market like a whole.
Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you ex
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
haberlers cost theory
1.what is price mechanism? 2.how does price mechanism benefit an echonomy. 3.what are the characteristics of a centrally planned economy?
Functions and Resources of the Bank The main functions of the Bank are as follows: • to assist in reconstruction and development of the territories of it member-governmen
-1- ASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100.0
Problems Using Point Elasticity - We may need to compute price elasticity over portion of demand curve instead of at a single point. - The price and quantity used as base wi
How do we evaluate the value of money? Supply and demand verifies the value of a currency. If demand is high, the value rises, and vice versa. Factors that affect supply and de
Market research has revealed the following information about the market for chocolate bars: The demand schedule can be represented by the equation QD= 1,600-300P, where QD is the q
Problem : (a) Using examples of Least Developed Countries, explain the: (i) causes of market failures; and (ii) consequences of market failures (b) Describe the common
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd