Q: Given Cost and Price (demand) functions C(q)=120q+45000 and p(q)=−2.8q+900, what is the marginal r...
A: Marginal revenue refers to change in total revenue with respect to change in output.
Q: 4. If tax revenues are lesser government expenditures in a year, the budget deficit would be negativ...
A: Budget Deficit occurs when in an economy, government expenditures are more than government revenues ...
Q: The web resources in this unit explored the economic relationship between China and Africa and the i...
A: According to Chinese statistics, China has become the continent's greatest trading partner, with Afr...
Q: Refer to the market demand and supply functions below: Qd=71,000 – 2,000P Qs = - 25,000 +25,000P Wha...
A: Qd = 71,000 - 2,000P Qs = -25,000 + 25,000P
Q: Explain how companies can profit from currency exchange. What is this called?
A: We have show that,Currency exchànges make money by chàrging consumèrs a fee for their services, as w...
Q: Consider each scenario described below for the supply of t-shirts: • If there was an increase in pri...
A: Demand curve shows the quantity demanded by the customers at different prices in the market over a p...
Q: MC AC AVC D1 D2 D3 D4
A: The firm will stop producing if price falls below the shutdown point. Shutdown point is decided thro...
Q: Problem Identification. Problem below. "Stressed because exam season and asked for fewer hours but...
A: There are a number of woes of time management at work. Failure in time management can result in imme...
Q: Because there isn't one single measure of inflation, the government and researchers use a variety of...
A: GDP deflator = (nominal GDP / Real GDP)*100 Nominal GDP market value of final goods and services pro...
Q: When a consumer withdraws cash from a drawer in his house and deposits it in a savings account, the ...
A: Savings is the amount that a consumer sets aside from its total income. The amount of savings is cal...
Q: From the bank of terms match the letter that corresponds to the appropriate concept/description. Ban...
A: The above terms are related to the various forms of market like perfect competition and monopoly. In...
Q: Figure 5 Supply and demand curves for a normal good Figure 5 shows a supply (S,) and demand curve (D...
A: The Aggregate Demand curve shows the total quantity of all the goods and services demanded by the ec...
Q: 5. The effect of external costs on the efficient level Consider the market for bolts. Suppose that a...
A: Social cost is the sum of private cost and external cost. External cost is 245 per ton.
Q: Below is an Edgeworth box of two individuals, Ross and Rosa, in the consumption of two goods, X and ...
A: Introduction Edgewoth box diagram belongs to the welfare economics. This concept has based on Pareto...
Q: Is the following statement TRUE or FALSE? Please provide reason for the answer. The positive relati...
A: Disposable income is the left amount in hand after paying taxes . And it is used for consumption of ...
Q: £/unit 100 90 SRMC 80 70 60 50 40 30 SRAC 20 10 MR D= AR 10 30 40 50 60 70 80 90 100 Units Figure 11...
A: The given graph shows the cost and revenue curves of a firm at different output level.
Q: When Marx writes of labour and its values, he focusses on socially necessary labour. why?
A: Socially necessary labour In Marx's criticism of political economics, socially necessary labor time ...
Q: If Im looking at an infinite period model and im told my dividend is always 0 at every period, would...
A: At the marketplace, dividend is the income for the stockholders of an organization.
Q: Government affects business by being all but one of the following 1. A tax collector 2. An agent 3. ...
A: Government policies describe why things should be done in a given way and in a certain direction. Pu...
Q: . Ignoring mixed strategies, does the following gam librium? Does it have more than one Nash equilib...
A: The Nash equilibrium exists where the one player takes the best course of action provided the strate...
Q: 8. If the central bank carries out an open market operation and buys government securities, the fede...
A: In an economy, any purchase or sale of government securities by the Central Bank has a significant i...
Q: What is the equivalent annual cost in years 1 through 8 of a contract that has a first cost of $72,0...
A: Given: First Cost=$72000 Annual cost from Year 3-8=$16000 Interest rate=14%
Q: Disposable ncome and Consur llar MILO 11414 DAI DAM Using the infomation in the sabie, graph the con...
A: A consumption schedule is table of numbers showing the relation between consumption expenditures and...
Q: Find the EAR in each of the cases. Use 365 days a year- Do not round intermediate calculations and r...
A: Given APR 8%, 16, 12, 15 compounded as quarterly, monthly, daily, infinitely. To calculate:- EAR=? P...
Q: In recent years the press and the manufacturing industry have been constantly writing about a suppos...
A: GIVEN Preface: The following information applies to the years 2011 through 2015
Q: What is the effect of a cashless society??
A: A cashless society is a state of the economy in which financial transactions are conducted using dig...
Q: Is the following statement TRUE or FALSE? Please provide reason for the answer. If tax revenues are...
A: In an economy, tax revenue is considered as the government receipt and government spending or expend...
Q: Canada had the following distribution of Income after taxes in 2006 Based on the information in the ...
A: Gini Coefficient is a widely used measure for income inequality in the countries . Gini Coefficient ...
Q: State whether the following statements are True, False, or Uncertain. Credits will only be given for...
A:
Q: How do we calculate the inflation rate and what is its relationship with the CPI? The inflation rate...
A: Inflation can be defined as a continuous increase in the price of commodities. Now if we consider th...
Q: Renting would be better than buying for an individual who does not want to need to pay for maintenan...
A: Renting - Renting is the amount paid for using the property and this use can be for personal purpose...
Q: Suppose that the required reserve ratio is 10%. The table below shows the balance sheet (in millions...
A: Given:Deposits=1000Reserves=200Required reserve ratio=10%
Q: The following table shows the composition of GDP in 2015 for a hypothetical country. Complete the ta...
A: The given table shows the information about the components of aggregate demand with some missing val...
Q: In the Heckscher Ohlin two good (food and cloth), two factor (capital and labour) model suppose that...
A: We use c as suffix to denote cloth and f as suffix to denote food. a. The capital constraint is Kc+...
Q: True/False/Uncertain Suppose there is a reallocation from state R to state Q. The Scitovsky paradox ...
A: A Pareto improvement is said to have arisen when at least one person becomes better off without anyo...
Q: The monetary multiplier is 3 and the change in the monetary base is $100,000. How much will the quan...
A: Given The money multiplier is 3 Change in the monetary base is $100,000. We have to calculate the i...
Q: 8. If the central bank carries out an open market operation and buys government securities, the fede...
A:
Q: Use the graph input tool to help you answer the following questions. You will not be graded on any c...
A: Here, the given graph provides information about the demand and supply of labor in the fast-food ind...
Q: Supply Curve and give interpretations.
A: Supply and Supply Function : By supply it is meant that the amount of a commodity offered for sale a...
Q: How are you influenced by the media as a consumer and content-maker? You may base your examples on y...
A: When a particular product is manufactured, cost takes place for producing that particular good and ...
Q: A topic on optimal pricing, elasticity, stay-even analysis, or cost-based pricing.
A: There are many measures that the sellers can to maximize their profit. one of the measures is optima...
Q: Using the data you entered in the previous table, calculate the tax burden that falls on buyers and ...
A: We can see these values directly from the graph and fill the table to be: QUANTITY PRICE BUYERS...
Q: Is it possible that globalization have come into existence without the internet? How was life like i...
A: Globalization is the process of bringing together businesses, governments, and people from all aroun...
Q: Suppose that the economy is characterized by the following behavioral equations: C = 180 + 0.80Y, /=...
A: Aggregate income is a sum of consumption investment and government spending in a closed economy.
Q: A firm faces the demand schedule = 0.69 and the total cost function TC = 40 + 30q + 0.4q². %3D (a) W...
A:
Q: uppose that a firm's marginal abatement cost function with existing technologies is MAC = 18 - 2E. ...
A: Given information: MACold=18-2EMACnew=9-E
Q: Find the marginal revenue function for the total revenue function given by 1 TR(Q) = 500Q- Find the ...
A: a)TR(Q)=500Q-13Q3Now,MR=∂TR∂QMR=∂(500Q-13Q3)∂QMR=500-33Q3-1MR=500-Q2
Q: 3. A fall in the price level shifts the aggregate supply curve upward and decreases the quantity of ...
A: Aggregate demand (AD) is the sum total amount of commodities and services demanded in an economy at ...
Q: When a customer takes cash from a drawer in his home and deposits it into his saving account, the co...
A:
Q: 7. The required reserve ratio helps determine the amount of money banks can create.
A: The reserve requirement is the portions of reserves that banks are expected to keep in currency, eit...
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- What is the marginal cost of labor?60 50 40 30 20 10F 2 3 4 Number of Workers Employed per Week Refer to Figure 7-1. If this figure represents Total Product per week, what is the marginal product of the fourth worker hired each week? Quantity of Bicycles Per WeekRecently NJ chose to increase the minimum wage, who are the winners andlosers? Why? Make sure to draw a graph to support your answer. What is analternative solution?
- Suppose that labor is the only input used by aperfectly competitive firm. The firm’s productionfunction is as follows:Days of Labor Units of Output0 days 0 units1 72 133 194 255 286 297 29a. Calculate the marginal product of each additionalworker.b. Each unit of output sells for $10. Calculate thevalue of the marginal product of each worker.c. Compute the demand schedule showing thenumber of workers hired for all wages from zeroto $100 a day.d. Graph the firm’s labor-demand curve.e. What happens to this demand curve if the price ofoutput rises from $10 to $12 per unit?How do you explain the impact of working overtime on the number of defective products per worker in a tableware factory?Assume the Jacksonville Jaguars, a football team, are in the process of hiring players. The following hypothetical table of data gives the necessary information to the manager to hire quarterbacks. Salary (Thousands of dollars) Number of Quarterbacks 0 о 100 1 200 2 300 3 400 4 500 5 Total Cost of Quarterbacks (Thousands of dollars) Marginal Factor Cost (MFC) Marginal Revenue Product (MRP) (Thousands of dollars) (Thousands of dollars) 100 700 100 300 650 400 500 600 900 700 550 1,600 900 500 2,500 On the following graph, use orange points (square symbol) to plot the labor supply curve for quarterbacks, starting with point (1, 100). Next, use green points (triangle symbol) to plot the marginal factor cost curve on the midpoints of the horizontal axis, starting with point (0.5, 100). Note: Plot points from left to right in the order you would like them to appear. Points will connect automatically. SALARY (Thousands of dollars) 1000 900 800 700 Labor Supply 600 MFC MRP 500 400 300 200 100…
- A farm can produce 10,000 bushels of wheat per year with five workers and 13,000 bushels with sex workers the marginal product of the six worker is?I Collado Lumber Company is producing tons of lumber per day. The following table is the costs of production. The managers currently have six machines. The price of output is $5 per unit. The wage of the worker is $55 per worker. From economic theory, we know that the value of the marginal product is price times the marginal product of labor. According to economic theory, a worker should be hired if the value of the marginal product is greater than the marginal cost of hiring a worker. See the table below. Number of machines Number of workers Output The marginal product of labor VMP Wage Marginal cost of hiring an additional worker 6 0 0 xxx xxx $55.00 xxx 6 1 2 2 $10.00 $55.00 $55.00 6 2 14 12 $60.00 $55.00 $55.00 6 3 30 16 $80.00 $55.00 $55.00 6 4 42 12 $60.00 $55.00 $55.00 6 5 50 8 $40.00 $55.00 $55.00 6 6 56 6 $30.00 $55.00 $55.00 6…Lets assume this situation is real! Dissimliar to Lyft, where drivers have their own vehicles, Ebay delivery companies own the delivery trucks and hire drivers. Refer to the table below, what is the marginal product of the 4th delivery driver? Using the table, if the profit/delivery is $5, what is the value of the marginal product of the 2nd delivery driver? Using the information above, if the pay rate is $170/day, how many delivery drivers should the company hire?
- Eldin is a house painter. He can paint three houses per week. He is considering hiring his friend Murphy. Murphy can paint five houses per week. What is the maximum total output possible if Eldin hires Murphy?Calculate the Marginal Product (MP) at each input level. If the price of printer is $100 each, calculate the Value of the Marginal of labor (VMPL). If the wage rate (per week) is $1800 , how many workers will be employed? If the firm decides to hire 14 workers, what is the maximum wage the firm would be willing to pay?Suppose Die Cast Aluminum Co. is a subcontractor for the auto industry and makes specialized auto parts. There is a bracket it manufactures that it sells for $2.50. The following table shows the number of brackets that can be produced from a given number of labor hours. Assume that the company cannot hire labor for a fraction of an hour. Hours of Labor Output 50 90 1 3 120 4 140 150 155 6 157 The marginal product of labor for the third hour of labor is 30. (Enter your response as an integer.) The value of the marginal product of labor for the third hour of labor is 75. (Round your response to two decimal places.) If the wage paid to workers in Die Casť's plant is $25/hour, it should employ worker(s). (Enter your response as an integer.) If the wage paid to workers in Die Cast's plant is $35/hour, it should employ worker(s). (Enter your response as an integer.) If the wage is $25/hour, but the price of a bracket declines to $2.00, it should employ worker(s). (Enter your response as an…
