(1) Specialization increases productivity which results in of a De creasing revenue b increa song marginal increasing opportunity costs с d. increasing marginal output. retuns
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- WORLD VIEW World's Largest Armies Rank Country Active Military 1 China 2,183,000 2 India 1,362,000 3 United States 1,282,000 4 North Korea 1,280,000 5 Russia 1,014,000 6 Pakistan 654,000 7 South Korea 525,000 8 Iran 523,000 9 Turkey 510,600 10 Vietnam 482,000 Source: U.S. Central Intelligence Agency 2019. Enter responses in Whole Numbers: If an average North Korean Farmer produces 1500 pounds of food per year, what is the opportunity cost, in pounds of food, of North Korea's Army? If a person needs 500 pounds of food per year to survive, how many people good have been fed with the forgone food output?Chose the trrue statement. a. Sincce the mid 1800ss , Unitedd States of America has experienced substantial migration in workforce in the following order: From service sector to agriculture, and then from agriculture to manufacturing. b. Moderniization or advances in technology, and smarrter processes are example factors that have increased manufacturing productivity in the US. c. The Clarrk-Fisher hypothhesis implies that as productivity increases in one sector, the labor force moves to another sector. d. b and c are true.Envision that the territory of South Dakota chooses to put resources into K-12 instruction by taking care of the expense of a Computers for each student. It concludes that it will contribute $15 billion today since it accepts it will result in $22 billion of advantages in 5 years, and an extra $52 billion of every 20 years. Utilizing a rebate pace of 0.05, is the undertaking a Kaldor-Hicks working on one? Should the province of South Dakota seek after the speculation? Do you believe that outcome would change with a rebate pace of 3%? 7%? You don't have to work out these in calculation; simply examine what might almost certainly happen to the end-product.
- Are ordeing costs and carying couts cconomic ording quantily of mathial?AP Macro AD/AS Practice6. The theory developed by Linder provides an answer for:a. The product life cycleb. The model based on factor endowmentsc. The production of wide-ranging economiesd. Trade based on intra-industrial activities
- (a) Disinguish beween Direct and Indirect production (b) Explain any five (5) reasons why different firms produce different levels of outputshigher costsxercise 5: Production and income distributionConsider and economy with the following production technology: ,Y = 9K1/3L2/3 wherethe aggregate capital stock is K=100, and aggregate labor is L=100. The price of output is1.a) Write down the maximization problem of the firm.b) Compute the equilibrium wage and capital return.c) Compute total payments to labor and capital. Show Euler’s Theorem holds, i.e. showthat total payments to capital and labor equal the value of output.d) What share of output goes to labor and capital?e) Suppose there is an increase in L, what would be impact on wages and capital returns?Explain.GivenMonthly rent25,000Monthly Salary/employee10,000Market price of slippers520Total units sold20,000 Solve for the followingTotal RevenueTotal CostProfit/Loss (indicate if its a profit or loss)
- Why Marginal Cost (MC) is 1?? I did my calcutation and is 2. I replace on fucntion Q = L + (5)2 = L + 25, so L = Q - 25 and put on TC = 2(Q - 25) + 20(5) So TC = 2Q - 50 + 100 = 2Q + 50, then MC = dTC / dQ = 2 You may be replaced TC = wL + rK, but this function no contains Q variable Please confirm that. Thanksa) Assume that the output of a company is given by y (K, L) = K^0.5 * L^0.5, where the amount of capital on shortterm is given by K = 1 and wage costs are given by w = 1. Calculate and illustrate themaverage variable costs and marginal costs (marginal costs).b) In addition, assume that the price of capital is given by r = 1. Calculate the average totalsthe costs and illustrate using a figure where you also include the marginal cost asyou found in a). Comment on what you find.b. Five Sales Executives have been told by their company Heavy Machines Limited (HML) that eachsales executive, will be relocated to work at one of five branches of their company, in theCaribbean. The cost to relocate a sales executive at each of the five branches is shown in Table 8below: SalesExecutiveBranchJamaica Antigua/Barbuda Trinidad&TobagoBarbados St. LuciaZenk Murt $2,550 $2,300 $ 2,700 $2,300 $2,400Rangle Tang $2,400 $2,700 $2,800 $2,600 $2,400Atil Heglam $2,600 $2,400 $2,700 $2,500 $2,400Justop Brelim $2,400 $2,500 $3,000 $2,400 $2,500Mesk Lathim $2,400 $2,300 $2,500 $2,800 $2,700 The costs shown in Table 8, are in Eastern Caribbean (EC) dollars. (i) Determine the optimal relocation of the five Sales Executives.