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A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120
Where E is the number of workers hired every hour and w is the hourly wage rate, Therefore, the firm faces an upward-sloped marginal cost of labor curve of
MCe= 6 + -0.1EEvery hour of labor produces five units of output. How many workers should the firm hire every hour to maximize profits? What wage will the firm pay? What are the firm's hourly profits?
assignment help on demand forecasting
Pricing Methods
Suppose a given demand curve for massage therapy services. In the context of giving massage therapy services, list, and explain in detail, 5 different variables that may cause an i
Question: (a) The regression results for the quantity demanded of good X is given by ln Q X = 1220 - 9.5 ln P X - 2.21 ln P Y + 1.01 ln M t values (5.3) (-5.1
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price floor of $20 is set, what will be the size of the resulting surplus?
Factors influencing Supply Curve State of technology There is a direct relationship between supply and technology. Improved technology results in more supply as with
According to J.B. Clark's profits arises in a dynamic economy, not in a static one. A static economy is one in which there is absolute freedom of competition population and capital
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.
NATIONAL DEBT Taxation does not often raise sufficient revenue for the Government Expenditure. So, governments resort to borrowing. This government borrowing is called Publi
introduction, evaluation,principle, activities concept behind Gatt & wto
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