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- If TP = 8L2-0.2L3 based on this function; A. Find the value of L that maximizes output B. How many workers can maximize an extra production and the value of labor that maximize APL D. Find the maximum value of APL and MPL and maximum productionDo you agree that capital is topmost factor under the category of resources? Why? Please explain and justify your answers. When it comes to knowledge on customers' needs and expectations, does the three variables such as observations, interviews, and market research are really factors in product development? Why? Kindly elaborate your answers per variable.Suppose Carl’s wage-schooling locus is given byYears of Schooling Earnings 9 $18,500 10 $20,350 11 $22,000 12 $23,100 13 $23,900 14 $24,000Derive the marginal rate of return schedule. When will Carl quit school if his discount rate is 4 percent? What if the discount rate is 12 percent?
- Question 1—Investment in Human Capital(6,000 character limit on all answers combined)Assume that there are two types of individuals in the population: Type A and Type B withthe corresponding fractions f1 and f2. The levels of ability for the two types are: αA andαB, with αA > αB. Suppose also that Type A lives for TA years, while Type B lives for TByears.Briefly answer/evaluate FOUR out of the following six statements:A. If the financial resources available for a Type B individual are greater than those available for a Type A individual, it is possible that the former will invest more in his/herhuman capital.B. Suppose that human capital is not productive, which of the two types will get moreinvestment in schooling?C. Suppose that the government provides all wages and sets all wages to be the same.How would that affect the incentives of the two groups to invest in human capital?1D. If TB > TA then Type B will get more education, otherwise Type A will definitely getmore…Suppose you observe over the last 15 years that the percentage growthin output was 25%, percentage growth in capital was 10%, and percentagechange in labor was 20%. Assume elasticity of output with respect to capitalis 0.4 and elasticity of output with respect to labor is 0.6. Calculate thecontributions to output growth from capital and labor, and then solve forproductivity growth. Please show equation throughout the whole processOm1. 1. ______ capital is the sum of the resources a person possesses as a result of investments in social networks and provides an advantage based on a person’s location in a structure of relationships. Financial Social Virtual Intellectual 2. ______ capital is a negotiation-specific form of social capital, which focuses on the assets that accumulate within a specific dyadic negotiation relationship. Human Relational Financial Personal 3. Which of the following is typically the best way to resolve a dispute with your boss? Discuss it with peers Report it to HR Approach her directly Report it to her boss
- Elroy Harris is considering whether to buy a corn and soybean farm in Iowa. The farm will cost $800,000, and Xander will be able to pay this from profits his recently deceased mother made on the stock market and willed to him. He estimates that if he does not run the farm, and keeps his current job as an economic forecaster, he will be able to earn $40,000 a year. The prevailing interest rate is 9 percent. Xander’s only motive is to maximize his income. His accountant tells him the annual profit from the farm is likely to be depending on certain conditions and assuptions: Scenario i) $160,000 of accounting profit Scenario ii) $100,000 of accounting profit Scenario iii) $50,000 of accounting profit Using the concept of positive economic profit, which of the three scenarios would the economic opportunity cost justify him taking up farming and quitting his job as an economic forecast. Show your work and calculationsAssembly: Total cost of production = PAQA = 400Earnings of High-Skilled Labor = WHHA = 100Earnings of Low-Skilled Labor = WLLA = 200Earnings of Capital = RKA = 100R&D: Total cost of production = PRQR = 400Earnings of High-Skilled Labor = WHHR = 175Earnings of Low-Skilled Labor = WLLR = 125Earnings of Capital = RKR = 100A. In which factor(s) is assembly intensive? In which factor(s) is R&D intensive?B. Suppose that due to the opening of trade, the price of assembly falls by ∆PA/PA = −20%, the price of R&D remains unchanged, ∆PR/PR = 0%, and capital’s share earnings remains constant.C. What has happened to the relative wage of high-skilled/low-skilled labor? Does this match the predictions of the offshoring model?Asap plz 15) International firms will invest in less developed countries at the beginning of their production life cycle, but as production is standardized and sold mainly on prices, they shift production to developed countries.Select one:O TrueO False
- The company that you manage has invested$5 million in developing a new product, butthe development is not quite finished. At arecent meeting, your salespeople report that theintroduction of competing products has reduced theexpected sales of your new product to $3 million. Ifit would cost $1 million to finish development andmake the product, should you go ahead and do so?What is the most that you should pay to completedevelopment?Consider a worker who is offered a salary bonus of $2,000 for each of the next two years if he or she enrolls in a job training program this year. The total cost to the worker, including any forgone earnings, is $3,000. (1). What is the internal rate of return on this investment? (2). Would this be a good investment for someone with a discount rate of 9%? Why? Please show your solution process and explain.What are pure specific factors model and mixed pecific factors model? How does the two differ?