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Given:
Y = 20(L.5K.4N.1)
L is labor
K is capital
N is land
L = 100
K = 100
N = 100.
What is the level of output in this country?
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- Suppose the price of manufactured goods is 2, price of food goods is 5. The production function for Qm=Lm^0.60 and QF=5*LF^0.60. The total number of workers, L, is 4986. What is the number of workers in the manufacturing sector?Q33 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital and finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau product sells for $3 per unit, and the wage rate is $13 per worker. The marginal product of the second worker is Multiple Choice 32 14. 8 1 5If q=9L²-L³ marginal product of labor is_________when L=2.
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- Suppose a bakery has 14 employees to be designated as bread bakers (B) and cake bakers (C), so that B+C=14Suppose that 15 states decrease the length of the standard work week from 40 to 35 hours. You are interested in the effects of this change on worker productivity. What effects might you expect to see? How would you conduct a difference-in-difference analysis to estimate the impact? What assumption must hold for the difference-in-difference analysis to be valid?Q49 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. The farmer's product sells for $3 per unit, and the wage rate is $13 per worker. The marginal revenue product of the second worker is Multiple Choice $9 $15 $24 $8 $14.
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