Given the following production function. If the price of the output is $100. What is the Marginal Revenue Product of the 4th worker (4th unit of labor)? Units of Labor Total Output MP ㅇ ㅇ 1 2 15 3 30 4 42 52 60 7 65 8. 67
Q: Analyze the relationship between negative externalities and inefficient overproduction
A: A benefit or expense that occurs as a result of the producer's activity but is not borne by the…
Q: By the 1970s, women's rights reemerged as a powerful movement, usually focusing on: O Expanding…
A: The answer is - Option 4. Inequalities in pay and workplace discrimination
Q: • P= price per tutoring session in ECON101. • P=price per tutoring session in Mathematics, which is…
A: Answer;
Q: How does the government budget deficit impact interest rates, investment, and economic growth?…
A: Government Budget deficit When spending surpass receipts, a budget deficit occurs, and it can be a…
Q: 34. The natural unemployment rate for a country is 6%. If the country's potential GDP is 55000 and…
A: Answer; 34) Option (e) None of the above is correct
Q: Consider the following demand curve for good X which is produced by Firm 1 and 2: Price=100-2*0₁-2₂…
A: We have two firms with same demand and different cost functions.
Q: Next, consider a case that the integrated firm produce the product and sell directly to consumers.…
A: Introduction Here we have a case of integrated market where firm produces the product and sell…
Q: Short Answer 1. Two students are walking by a department store window that has on display a $400…
A: here we explain the logic of the given statement " i want that dress but cant afford it" as…
Q: QUESTION 14 14. In the late 1970s, as gasoline prices began rising, the govemment imposed a price…
A: Price ceiling is imposed by the government below the equilibrium price to save the consumers from…
Q: which of the following are functions of the Federal Reserve System? Check all that apply O…
A: Supervising member banks: Following the establishment of rules and regulations, supervision—which…
Q: Kyle is a grade 5 student currently taking his modular class at home since the pandemic happened in…
A: Between 5th and high school its 7 years Amount saved = 500Php twice a month Interest rate (i) =…
Q: 61. The total demand for money curve will increase (as a result of): A. if investors perceive less…
A: At the marketplace, money demand refers to the amount of money held by the people to make different…
Q: A firm has a short-run total cost function given as STC =q³5q² + 25q. a. If P = 100, identify the…
A: Answer; a) Profit maximising quantity , q = 15 Profit = 1125 b) Profit…
Q: on what course action to take if the information is meant to help them decide on some food stipend…
A: *Answer:
Q: Describe the effect of different types of price discrimination
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: The goals of state and federal regulators can differ significantly. True False
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: Suppose there is an increase in total factor productivity, which implies that all firms offer higher…
A: The productivity of all inputs is referred to as total factor productivity . TFP is a measure of an…
Q: Consider a two-player, sequential-move game where each player can choose to play right or left.…
A: Nash Equilibrium:- The Nash equilibrium can be explained as a game theory decision-making hypothesis…
Q: The residential division of Prism's high-speed Internet service uses one advertising agency, while…
A: Click-Through Rate Click-Through rate measures the ratio between the number of clicks on an…
Q: 1. A profit-maximizing competitive firm will decide to enter a market when the existing firms in the…
A: in perfect competitive market, there are many number of sellers and buyers which turns the market…
Q: Describe Lancaster Pennsylvania's economy. Which sector is dominant in this town?
A: Introduction The Lancaster's economy is now ranked 37th in the USA. This is a projection based on…
Q: The New Deal concentrated on industrial recovery, completely ignoring the impact of the Great…
A: 1. False: The given statement is false because the New Deal was a series of programmes louched by…
Q: Use the table below to answer questions about Christina's Christmas Wreaths. Christina operates in a…
A: We have given price = 64 for product the product. Due to given price, MR becomes equals to the…
Q: Today, you invest ₱100,000 into a fund that pays 25% interest compounded annually. Three years…
A: The realistic portrayal of each money related esteem with time is known as cash flow diagram. The…
Q: The growth in the velocity of M2 has been steady at about 2% since 1950 so we figure it will stay…
A: Answer; We Know That Inflation in Future ( P)= 5% Rate Of Growth Of Real Output (Y) =…
Q: 2. Firms 1 and 2 compete in a Cournot duopoly. If firm 2 adopts a strategy that raises firm 1's…
A: Cournot duopoly is a type of duopoly model in which firms are competing in quantities.
Q: By dictating the amount of money commercial banks must keep in the bank, the __________ represents…
A: Reserve requirement is the fund that banks need to put in reserves in order to meet liabilities if…
Q: Bidding for the rights to provide cable television services. The demand for cable television is…
A: Demand function : P = 100 - Q Firm 1 AC : AC1 = 10 Total Cost = 10 Q Firm 2 AC : AC 2 = 20 TC =…
Q: The own-price elasticity of demand for beer in the United States and Germany is -0.55 and -0.15,…
A: Elasticity of demand is defined as type responsiveness of the quantity demand when price of the…
Q: Should DAMC consider other foreign investment strategies, like strategic alliance, joint venture…
A: Even though the pandemic represents a "detour" from the globalization trend, DAMC should investigate…
Q: In an industry with inverse demand curve p= 340 - 2Q, there are five firms, each of which has a…
A: here we calculate the quantity firm will produce by using the given demand curve and marginal cost ,…
Q: 17. If a firm's MPL = 2.0 when that firm hires 25 units of labor to produce 100 units, then which of…
A: Firm is hiring the labor to produce the output and for each unit of labor hire there is change in…
Q: 2. Suppose John has the following demand for coffee per day: Cups of Marginal Coffee Value 1 $8 2 $6…
A: Answer; The maximum amount of membership should be 7 dollars
Q: The Federal Reserve sells $28.00 million in Treasury securities. If the required reserve ratio is…
A: Money multiplier = [1 - Currency deposit ratio] / [Currency deposit ratio + Reserve deposit ratio]…
Q: Ben bought his brother a laptop 5 years ago which has a cost around 25,000PhP. The laptop's life…
A: The given variables are: Initial cost = PhP 25,000 Life = 10 years Semi annual maintenance after 5…
Q: An economy is described using the following equa C=210+ 0.15 (Y-T) 1=225 G=185 NX=-30 T=110 Y = 700…
A: The measure that depicts the total value of goods and services being produced in an economy during a…
Q: An apartment complex included a fixed price of water in the monthly rent. One day the city decided…
A: demand is a financial rule alluding to a customer's longing to buy labor and products and readiness…
Q: 3. Assume that a firm which produces an output according to the following function is attempting to…
A: Given production function q=f(K,L)=(0.5K12+0.5L12)12 Price of labor=WPrice of capital=r
Q: A profit-maximizing firm will: O reduce employment if VMPL exceeds MCL. O expand employment if the…
A:
Q: Explain the concept of excess demand in macroeconomics. Also, explain the role of open market…
A: Excess demand is defined as when aggregate demand exceeds aggregate supply at full employment.
Q: Questions 13: Please draw a PPF curve for the table to the right with labels? Batteries E
A: Since You have Posted Multiple questions, as per the guidelines we can solve only one question per…
Q: Suppose a closed economy with no government spending or taxing is capable of producing an output of…
A: closed economy with no government spending or taxing is capable of producing an output of $1600 at…
Q: A company determines that its demand function is given by p(q) = -0.8q + 1716 and that its cost…
A: Given, p(q) = -0.8q +1716 C(q) = 54.53q +4519 items produced = 814 need to calculate Marginal…
Q: 13. This question corresponds with the demand and supply curves below for good X Demand: P-900-700…
A: Equilibrium in the market occurs where quantity demanded equals quantity supplied, that is at the…
Q: 8. Factors that influence standard of living
A: When the government invests in technology, education to increase skills and create capital…
Q: Differentiate between private goods, public goods, common resources, and externaliti
A: Private Goods: Private goods are those goods that are privately owned and manufactured. In the…
Q: Because all points on a contract curve are efficient, they are all equally desirable from a social…
A: The contract curve, also known as the Pareto set, is a set of points in microeconomics that…
Q: As shown in Exhibit 9-1, O $1 trillion. O $2 trillion. O $3 trillion.
A: Use the below formula: Aggregate expenditure = Consumption + investment + government spending + net…
Q: the following game: A C (3,3) (4,5) (2,1) (9,4) (8,8) (7,7) (6,6) (5,9) (1,2) C a) Find the…
A: There are two players in the game - Row player , Column Player Strategy set of player 1 = Strategy…
Q: Question 8 In which situation is the real interest rate lowest? O The nominal interest rate is 8%…
A: The real interest rate of a bond or loan is calculated by adjusting the actual interest rate to…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Other than the demand for labor, what would be another example of a 'derived demand?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 $12 per unit?Q.1.20 An upward-sloping labour supply curve illustrates that ceteris paribus; (a) the quantity of labour supplied and the hours of work per week aredirectly related.(b) the quantity of labour supplied and the price of labour used to produceoutput are inversely related.(c) individuals use higher income to buy back leisure time.(d) a greater quantity of labour would be supplied at higher wage rates .Q.1.17 Marginal cost is defined by: (a) total cost increases when one more unit is produced.(b) fixed cost increases when one more unit is produced.(c) Total revenue increases when one more unit is produced.(d) average cost increases when one more unit is produced.
- Number ofWorkersEmployed Output(Units) MarginalProduct(Units) Value ofMarginalProduct ($)(Market Price=1$) Value ofMarginalProduct ($)(Market Price=2$) 0 0 1 8 2 22 3 36 4 56 5 60 6 72 7 82 8 89 Derive Marginal Product and Value of Marginal Product from the following table when market price for the product is 1$ and 2$ .QUESTION ONESuppose a firm’s production function is given by Y = 4L0.5 and its (inverse) product demand curve is P = 20 −0.5Y. The firm can hire labour at a wage rate of K12. a) Find an expression for the marginal product of labour. b) How many workers will the firm hire? c) What level of output does the firm produce? and What price will it charge?A firm is currently employing a cost-minimizing combination of labor and capital for a given level of output. The firm is employing 20 workers, and the marginal product of the last worker is 40 units of output. The firm is employing 100 units of capital, and the marginal product of the last unit of capital is 10 units of output. If the wage rate is $20 per hour, what is the price of capital? (A) $2.5 per hour (B) $5 per hour (C) $10 per hour (D) $100 per hour (E) $200 per hour