In words, Ay = B1AX, is defined as the marginal effect of: a. x on y is constant and is equal to BO. b. x on y is constant and is equal to B1. c. y on x is constant and is equal to BO.
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- According to the child labour model, if the demand curve is sufficiently elastic A. there is a single equilibrium with high wages or low wages, depending on the demand for labour B. there is a single equilibrium with low wages C. there is a single equilibrium with high wages D. there are multiple equilibriaIn a standard consumer optimization problem in microeconomics, a consumer purchases any pair of goods untilU1U2=p1p2(?), at an interior solution, where Ux is the marginal utility of good x for the consumer and px is the price of good x, where x={1,2}. What is the corresponding optimality condition for a worker-consumer in his labour-leisure optimization problem and why is it just a variation on the standard optimality condition (?)?Why does the marginal product of labour fall as more workers are hired? Motivate your answer.
- Suppose a new drug was discovered that slowed the deterioration of health that accompanies aging. (All the graphs you draw should include labels, down and right arrows to indicate the changes before and after the new drug were discovered). a.) What's the effect on optimal health H* ? Draw its marginal efficiency of capital (MEC) curve. b.) What's the effect on the available time for work Tw and play Tz ? Draw its labor–leisure graph including both budget constraints and indifference curve. c.) Draw the production possibilities frontier. Explain it.Assume in a given company the marginal productivity can be characterized by the following function MPL = 100 - L, where L denotes the number of higher workers.If the price of the good purchased by the company is 10 gel, and the workers wage is set at 600 gel. How many workers should a company hire to achieve the maximum profit? Select one a - 40 b - None c- 99 d- 60Two Factors that bring about the economic concept in early diseconomics for the business
- (Hint: SR vs LR). Explain and graph.Do you believe or think PPP(Public Private Partnership) could be a game changer in the post covid HR development?Suppose Carl’s wage-schooling locus is given by Years of Schooling Earnings 10 $30,000 11 $35,000 12 $40,000 13 $45,000 14 $50,000 15 $55,000 16 $60,000 17 $65,000 Derive the marginal rate of return schedule. When will Carl quit school if his discount rate is 14 percent? What if the discount rate is 9 percent?