The income of landowners in every country, Managerial Economics

Assignment Help:

In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good.
The land supply in every country and the technology of production are exactly the similar. The marginal product of labor in every country depends on employment as follows:

691_33.png


Initially there are 11 workers employed in Home but only 3 workers in Foreign. Find the effect of free movement of labor from the high wage to the low wage country. When such economic migration ceases, what will be the levels of production, real wages and the income of landowners in every country?

 


Related Discussions:- The income of landowners in every country

Elasticity of demand, A baseball team is trying to predict ticket sales for...

A baseball team is trying to predict ticket sales for the upcoming season. They are also considering increasing prices. The market has a population of 2 million persons. The team s

Quality controls - importance of demand forecast, Quality and Quantity Cont...

Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant

#title., #Plot the demand schedule and draw the demand curve for the data g...

#Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.question..

Explain about delphi method, Q. Explain about Delphi method? Delphi me...

Q. Explain about Delphi method? Delphi method: This is a systematic, interactive forecasting method that depends on a panel of experts. Experts answer questionnaires in two o

Health care economics, prepare a break-even analysis to determine volume re...

prepare a break-even analysis to determine volume required to cover costs with and without a specified profit target and price.

Oligopoly theory, in the context of oligopoly theory explain the channels v...

in the context of oligopoly theory explain the channels via which either a cost reduction or a quantity increase influence a supplier''s profitability

Disguised unemployment, Disguised unemployment Situation where some pe...

Disguised unemployment Situation where some people are employed apparently, but if they are withdrawn form this job, total production remains the same. In most developing coun

Managerial economics helps create utility for the society, The theory of co...

The theory of consumer's behavior seeks to explain the determination of consumer's equilibrium. Consumer's equilibrium refers to a situation when a consumer gets maximum satisfacti

Per capita income and international comparisons, PER CAPITA INCOME AND INTE...

PER CAPITA INCOME AND INTERNATIONAL COMPARISONS Per capita income figures can also be used to compare the standards of living of different countries. Thus if the per capita in

#title.total revenue, if Q=120-2p is the equation for demand curve, find th...

if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function

Write Your Message!

Captcha
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