Assume a firm incurs overall labor costs of $22 per hour - which includes wages and training costs. Unit training costs equals $160/h and the wage equals $20/h. How many firms are there?

Q: What is the main feature of a perfect competitive market.

A: Perfect competitive market The term "perfectly competitive market" refers to a scenario in which a l...

Q: Table 24-2 The following table pertains to Wrexington, an economy in which the typical consumer's b...

A: Consumer price index(CPI): - it is a measure of change in the price level, it measures the change in...

Q: Problem 6) For an interest rate of

A: * SOLUTION :-  (6)   Given that ,   

Q: The relationship between output and eoyment is: O dirgct inverse Oup and down repeatedly constant

A: Firm hire labor in order to produce the required output and give them wages in exchange of their ser...

Q: Is the following statement TRUE or FALSE? Please provide reason for the answer. The marginal propen...

A: The amount of money spent on products and services is referred to as consumption. Savings and consum...

Q: what is the following pricing strategy or price discrimination approach? Unauthorized ticket specula...

A: a) Bundling Varying units of a product are offered at different prices in this kind of price discrim...

Q: selow is an Edgeworth box of two individuals, Ross and Rosa, in the onsumption of two goods, X and Y...

A: Introduction  Edgeworth box diagram is a part of welfare economics. It is based on Pareto optimal. I...

Q: Katie's preferences display completeness, transitivity, nonsatiation, and a diminishing marginal rat...

A: Katie's Previous: Income, M = 1000 Px = 10 Quantity of X = 30 units Total spent on X = 10*30 = 300 S...

Q: NEED HELP ASAP! THANK YOU!! For a 20-year geometric cash flow progression increasing at 2% per year...

A: The rate of growth= g=0.02 rate of interest=i=0.1 First year amount=P 1020 The present worth PW=1020...

Q: What is the major difference between microeconomics and Marcoeconomics.

A: Economics is categorised in two category microeconomics and macroeconomics. Individual and corporate...

Q: 3. The spending multiplier effect Consider a hypothetical economy. Households spend $0.50 of each ad...

A: Households spend $0.50 of each additional dollar they earn It means MPC is 0.50 --------------------...

Q: 1. Design an algorithm to test whether there is at least one common element between two sets of numb...

A: Solution:- 1.  You wish to know what elements are shared between two arrays. This is the most straig...

Q: The table below represents a firm's profit for producing and selling candles.  Assume that if a firm...

A: Total revenue is price multiplied by quantity. Marginal revenue is change in total revenue with resp...

Q: In order to conjecture the circumstances in these two countries under free trade, consider the follo...

A: given   It is given that there are only 2 nations; Italy and Sweden and there are only two goods; Sh...

Q: Consider a closed economy with consumption, production, and government. The representative consumer ...

A: A closed economy is one in which one country is absolutely independent in terms of production and ha...

Q: The schedule below shows the supply and demand for movie tickets. What is the equilibrium quantity a...

A: The curve that depicts the quantities that are being demanded by individuals at various levels of pr...

Q: Buyers as a group determine supply, and sellers as a group determine the demand of the product a. ...

A: Buyers are those who buy anything from the market. Buyers engage in the purchase of goods and servic...

Q: ak Creek company sold 55,500 units of afinity TV in 2019. The following year, the umber of Inifinity...

A: Income elasticity of demand depicts how much consumer responds with change in his income. 

Q: Two people trade two goods that they cannot produce. Suppose that one Mary's indifference curves are...

A: Assume the two goods are good X and good Y. Let Joe's origin be on the northeast corner of the Edgew...

Q: In an Edgeworth box, illustrate that a Pareto-efficient equilibrium, point a, can be obtained by com...

A:

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: What is prodocer surplus, and how is it measured? What is the relationship between the cost to selle...

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: 22. beliefs and to ignore conflicting data.

A: The measure that depicts an attitude that something or some proposition about the world is in turn t...

Q: Suppose the economy is four sectors economy. The economy is represented by the following: C = 400 + ...

A: Aggregate expenditure equation: AE = C + I + G + NX => AE = 400 + 0.40Yd + 25 + 40 + (-25) Note: ...

Q: If the price of a physiotherapy session is $100 and the pills cost $10 each, which treatment option,...

A: Given: Price of physiotherapy session=$100 Price of pill=$10 Note: Due to multiple questions being p...

Q: If an economy is in recession, discuss the differing effects created by a tax cut vs. a GDP-G increa...

A: In an economy, recession refers to the market condition when firms and households make lesser econom...

Q: Economic development must be analyzed by the overall social system like cultural traditions, attitud...

A: Economic growth is the rise in an economy's production of goods and services. The rise in capital go...

Q: A project costing P250,000 yields a yearly benefit of P80,000 for a period of 10 years with no salva...

A: The cost-benefit ratio helps in identifying the relationship between the cost and benefits of a proj...

Q: Use the information in the table below to calculate the value of the marginal product of labor (VMPĻ...

A: Value of marginal product of labor = Price * Marginal product of labor L MPL P VMPL 1 24 5 120 ...

Q: Find the future value for the ordinary annuity with the given payment and interest rate. PMT = $700;...

A: Given: The annuity payment is = $700 The interest rate is = 1.20% compounded semiannually Years = 3 ...

Q: Masks (Now). The easing Covid-19 pandemic is expected to reduce demand for medical masks this year,...

A: The 7th graph fits the best

Q: Provide two examples of how a company might engage in currency speculation.

A: Currency speculation refers to when an individual buys a currency with the aim to earn profit rather...

Q: Consider an ISLM model given by these equations: Y = C + I + G C = 10 + Ya T = 10 G = 15 I = 5+÷Y – ...

A: (a) At equilibrium Y = C + I + G => Y = 10 + (1/2)Yd + 5 + (1/4)y -100i + 15 Note: Yd = Y - T =&g...

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: What is the relationship between unemployment and the price level in the short run?

A: Unemployment occurs when all those who are willing to work at the current wage rate are unable to fi...

Q: Economic Development can analyze and answer the following questions except one a. When will you kno...

A: Economic development means the economic growth along with the improvement on the quality of life of ...

Q: All of the following are elements in the structure of the Fed EXCEPT the O a. Executive Council to t...

A: "Elements which are included in the structure of FED are as follows: 1) Board of Governors 2) 12 Fed...

Q: 2. An organization engaged in the social sector intends to develop a social fund to help the elderly...

A: Given,  A social fund to help elderly between 65 and 90 years= 25 yearsAssistance given every month ...

Q: Which of the following are examples of specialization? Check all that apply. O Eileen is good at exp...

A: Since you have posted multiple questions, as per answering guidelines we are supposed to solve only ...

Q: People who drop out of high school are able to produce more health than college graduates because th...

A: The production possibility frontier of an economy shows the different combinations of two goods an e...

Q: б. ( You are given a loan on which interest is charged over a 4-year period, as follows: i. an effec...

A: The rate of interest is the cost of borrowing money or the return for lending money.    

Q: 2. 3. Problem 7) Given the cash flow diagram, determine the unknown for an interest rate of 10% 500 ...

A: to solve this question, we have to equate NPV of all the cash flow to 0

Q: A downtown bar serves a drink that UCSB students love. The profit-maximizing owner knows that any gi...

A: Demand function refers to the relation between the price and quantity that shows how individuals or ...

Q: By the condition of a will, the sum of P 25,000 is left to a girl to be held in a trust fund by her ...

A: Given present worth = 25000 Future value = 45000 Interest rate = 8% compounded quarterly Time = ?

Q: A material handling system was purchased 3 years ago for $128,355. Two years ago it required substan...

A: Given:- Cost of Material handling system: $128,355 (3 years ago) Cost for substantial upgrading: $17...

Q: For some couples, the solution for too much pandemic togetherness is saying good night on Valentine’...

A: In 1940's demand for mattress were more in the market and later on the demand beds started to come i...

Q: 5 What are the two rules for writing that were most interesting or important to you and why? Add two...

A: The two most important rules in writing for me is:- Number 1) Whenever you write anything whether an...

Q: Find the present worth of perpetuity of P 6,000 annually with an interest rate of 12% annually if th...

A: Present value of of perpetuity is calculated by ICFr, where ICF is the identical cash flow and r is ...

Q: Suppose the demand for football tickets is QD=360-10P and the market supply is QS=20P. a) Calculat...

A:   QD=360-10P360-10P=010P=360P=36andQS=20P20P=0P=0 For equilibrium,QD=QS360-10P=20P-10P-20P=-36030P=3...

Q: 6. When Karen uses money to buy her breakfast, she is showing the use of money as a unit of account....

A: In an economy, money is used for different purposes, which explains different functions of money at ...