After the fifth worker is hired at the hourly wage $40, the output rate increases from 64 pairs of shoes per hour to 72 pairs per hour.” Given the statement, which of the following is correct after the fifth worker is hired? Group of answer choices The marginal cost (MC) becomes $8. The marginal physical product (MPP) per labor hour becomes 5. The marginal cost (MC) becomes $5. The marginal physical product (MPP) per labor hour becomes $40.

Q: The monthly demand for ice cans being manufactured being manufactured by Mr. Cruz is 3,500 pieces.…

A: The monthly demand for ice cans is 3500 pieces.With a manually operated guillotine, the unit cutting…

Q: me following graph shows the market for loanable funds in a closed economy. The upward-sloping…

A: The market in which the person or institution having excess money transacts to exchange the same…

Q: Milliken uses a digitally controlled dyer for placing intricate and integrated patterns on…

A: To find the Present worth , Annual Worth & Internal Rate of Return we first compute the After…

Q: Suppose the fictional country of Teton produces only two goods: sorghum and handbags. The following…

A: The production possibility frontier (PPF), also known as the production possibility curve, is a…

Q: An oil company is planning to install a new 80 mm pipeline to connect storage tanks to a processing…

A: Given:Initial cost: RM15,000annual pump operation hours: 450 hourspump cost per hours: RM2.50annual…

Q: 1 Suppose there are two countries, Home (H) and Foreign (F), and two goods, bread (b) and cheese…

A: (a) In the free trade world market equilibrium, the price of bread (Pb) is normalized to 1. We need…

Q: 1 Suppose there are two countries, Home (H) and Foreign (F), and two goods, bread (b) and cheese…

A: Free international trade : The absence of trade barriers , such as tariffs or import quotas ,…

Q: Consider the following simplified scenario. Imagine that the Australian national rugby union (for…

A: Since you have posted 13 subparts and it is impossible to solve all in the given timeframes, we will…

Q: The following figure depicts the supply curve. Dollar per unit 250+ 200+ 150+ 100+ 50 50 100 3)…

A: The supply curve is a graphical representation of the relationship between the quantity of a product…

Q: Briefly explain the differences between economic growth and economic development.

A: Economic  growth  refers to an  increase in the  production or output of  goods and services  in an…

Q: Calculate the marginal efficiency of capital if the prospective yield is $80 and the supply price is…

A: MEC refers to the predicted profitability of a capital asset it could be basically described as the…

Q: Given the utility function U(C₁, de+1)= Inc,+Blnde+1 and the production function F(K,L) = K*L¹-…

A: Utility  function ( U) : A  mathematical  function that  represents an individual's preferences or…

Q: (b) Show, using algebra, that Ronald’s two budget lines intersect at the bundle (x, y) = (5.5, 8.7).

A: Budget Line:The budget line serves as a visual representation of the budget constraint, showing the…

Q: Consumer Price Index SETTINGS 1960 300 280 260 240 220 200 180 160 140 120 100 80 60 40 20 Price…

A: CPI in 1980= 240Wage rate in year 1980= 10 per hour

Q: You are considering two options for your next family vacation. You can visit Disney World or…

A: Expected utility refers to an idea in decision theory and economics that evaluates a singular's…

Q: Computers are used to create and solve managerial decision models. True False

A: A managerial decision model refers to a mathematical or logical depiction of a real-life…

Q: Draw a market demand curve and market supply curve for automobiles and label these curves D₁ and S₁,…

A: Market equilibrium refers to a situation where the amount of a particular product or service that…

Q: Price Quantity Price Figure A Quantity Figure A Figure S DI S₁ D D2 $₂ Price Quantity Price Figure B…

A: Exogenous factors such as rise of cost raw materials shifts the supply curve to the left

Q: The government sets a minimum price for prof. Ernst's brussel sprouts. This is called a Group of…

A: The price restrictions make guarantee that market prices are not artificially raised or lowered. To…

Q: Income $32,000 $48,000 Quantity of good X purchased 14 22 Quantity of good Y purchased 28 23 Refer…

A: Elasticity has changed throughout time, starting with the fundamental notion of supply-demand…

Q: (a) Find the aggregate willingness to pay function for global greenhouse gas seques- tration. Graph…

A: We will do all three calculations list is below:(a) The aggregate willingness to pay function for…

Q: What are the advantages and disadvantages of using total economic value estimates to develop…

A: When developing environmental policy recommendations, one approach is to consider the concept of…

Q: Refer to the market for laptops shown in Figure 1 in the text. If the market price of a laptop was…

A: Willingness to accept (WTA) is the minimum amount of price that а person is willing to accept to…

Q: Your company plans to raise price on product A by 5% per year. Due to competition, sales volume from…

A: Revenue Cash Flow Analysis:Revenue cash flow analysis is a financial evaluation method used to…

Q: the population of a city grows by 3% each year. What is the growth factor?

A: In economics, the term "growth factor" refers to a measure that quantifies the rate at which a…

Q: Continue to consider Ronald from Q1. Suppose that Ronald’s preferences over movies and climbing are…

A: Indifference curve: Indifference curve shows different combinations of 2 goods such that consumer’s…

Q: QUESTION Considering the following model: Ct = ao+a1Y₁ + a₂C₁-1 + U₁t It=B0 + B1Rt + B2lt-1+U2t Rt =…

A: To explore the factors that impact growth in GDP, inflation, and unemployment rates, national income…

Q: Reformulate the model given by (8.10) through (8.19) based on the new definition of the decision…

A: The Markowitz portfolio optimization model, also known as the mean-variance model, was introduced in…

Q: i. ii. iii. A. A Nash equilibrium is a strategy profile such that every player's strategy is the…

A: Nash Equilibrium:Nash equilibrium is a concept in game  theory that describes a state of strategic…

Q: Give typing answer with explanation and conclusion The price elasticity of demand for economics…

A: Price elasticity of demand refers to the percentage change in the quantity demanded of a good with…

Q: 2. Theory of the firm A firm has a production function q= f(k,l) = (k0.25 +10.25)2, w is the wage,…

A: Contingent Input demand function : It is the cost minimizing level of input which is required to…

Q: Determine the number of years it will take for the standard of living to double in each country.…

A: The Rule of 72 can be described as the simple mathematical formula that is used to calculate the…

Q: 2. Suppose that computers use 2 units of capital for each worker, so that Kc = 2. Lc, whereas shoes…

A: Given: Total workers = 100Total capital = 100 Lc (number of workers used to produce computer) Ls…

Q: A broker has been given a commission check for $1,200 but doesn't have time to visit her own bank.…

A: When faced with the situation of a broker receiving a commission check but lacking the time to visit…

Q: Each of the three mutually exclusive alternatives shown has a 5-year useful life. If the MARR is…

A:

Q: The market for superpremium ice creams is dominated by Ben&Jerry's and Haagen-Dazs, which compete…

A: - The profit function for Haagen-Dazs (A) can be represented as follows: πA = (pA - c - t) qAHere,…

Q: how did 2008 global financial crisis affect inflation?????? 2008 financial crisis vs inflation!?

A: Inflation refers to the sustained increase in the general price level of goods and services in an…

Q: Long run real interest rates are expected to increase. An accountant and an MBA student (who just…

A: Long-run interest rates represent the inflation-adjusted nominal interest rates observed over an…

Q: Omni Advisors, an international pension fund manager, uses the concepts of purchasing power parity…

A: Purchasing Power Parity (PPP) is an economic concept that suggests exchange rates between currencies…

Q: Part (i): Suppose that the world price of a palm tree is $700 (i.e., that American sellers can sell…

A: Demand and supply are fundamental economic concepts that describe the relationship between the…

Q: You are considering investing in ICI. Suppose ICI is currently undergoing expansion and is not…

A: Given,Expected growth rate: for first years.                                          afterwards

Q: Free market economies stimulate economic growth whereas state-directed economies stifle growth.…

A: Free market economies :  An  economic  system  characterized by minimal government intervention and…

Q: 5. Market Power A monopolist has a cost function C(q) = 2q and faces a demand curve p = 10-q. a.…

A: ***Since you posted two independent questions, only the first one is answered. In order to answer…

Q: A consumer has a utility function U (x, y) = xy³. a. Find MRS. b. Find Marshallian demand for x and…

A: Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Q: A $1,200 stimulus check sent to households by the government as COVID relief

A: Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and…

Q: Blue Inc. is considering producing a short-lived fad item, which it estimates will have a project…

A: The difference between the present value of cash inflows and outflows over time is known as net…

Q: comment on the following table

A: The General Depreciation System (GDS) is a method used to calculate the depreciation expense for…

Q: Answer the questions using the figure. P Pw+t Pw 0 0₁ b 8 6 Q P S O Tariff Which area represents the…

A: Tariff is the tax which government impose on the imported good. Government does this to protect the…

Q: rational economic basis, explain why the study of chart patterns is likely to be an warding…

A: Rationality can be defined as the quality or state of being rational, which includes the ability to…

Q: The government sets a minimum price for prof. Ernst's brussel sprouts. This i Group of answer…

A: Price support is a policy mechanism employed by the government to establish a minimum price for a…