I need the answer as soon as possible 67. Some economists say that profitearner is a kind ofA. O Rent receiverB. O Interest receiverC. O Wage earnerD. O Government officer

To find : What is profit earner type

Answered: Some economists say that profit earner…

Business

Economics

Some economists say that profit earner is a kind of

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: The Markets For The Factor Of Production

Section: Chapter Questions

Problem 6CQQ

See similar textbooks

Related questions

Q: Unemployment of labour means that

A: To find : What is unemployment of labour

Q: 5. The results of the recent Federal Census will have no impact on the amount of revenue a State rec...

A: Answer -

Q: Suppose a monopolist faces a market demand curve Q = 50 - p. If marginal cost is constant and equal ...

A: MARKET DEMAND: Market demand is the total amount of goods and services that all consumers are willin...

Q: al producer and 10 million tons are imported. The steel producer produces 10 million tons of steel a...

Q: Explain in detail the importance of pm and qmin graphic above, what happens and why it happens withi...

A: The equilibrium refers to the economic condition where the demand and supply are equal. The demand i...

Q: Explain the difference between market capitalism, centrally planned capitalism, centrally planned so...

A: The economy is an area where we earn our living. It refers to a system where we perform the major ac...

Q: Suppose MPL = 0.5 ∗ (q/L) and MPK = 0.5 ∗ (q/K). In the long run, the firm will hire equal amounts o...

A: MPL and MPK are the marginal productivites of labor and capital. Each firm produces the good with th...

Q: Suppose that the price of a bag is $50 and the price of a calculator increases from $25 to $50 and S...

A: 1. Bundle A = 0 bags + 4 calculators Total utility of bundle A = 0 + 23 = 23 2. Bundle B = 1 bags + ...

Q: A firm earns economic profit when total profit exceeds

A: To find : When firm book profit

Q: All of the following statements about import tariffs are true except Group of answer choices ...

A: Import tariffs means the taxes that are levied on the imported goods. The basic aim behind imposing ...

Q: In the ADT/ASI model, the equilibrium inflation rate is O a. The target inflation rate O b. The rate...

A: The ADπ/ASπ model refers to the representation of the goods market through mathematical and graphica...

Q: 5. Suppose we want to estimate the effects of alcohol consumption (alco- hol) on college grade point...

Q: A plant erected to manufacture socks has a first cost of 10,000,000 with an estimated salvage value ...

A: The periodic contribution can be calculated with the following formula P = Depreciating amount x R...

Q: You own a zero-coupon bond that will pay 10,000 in two years. The interest rate from 2021 to 2022 is...

Q: 7.) Who discovered the law of comparative advantage? a.) David Ricardo b.) Robert Torrents c.) David...

A: The law of comparative advantage says that a country has a comparative advantage in producing goods ...

Q: 6. We have the production function, Q= fl K,L). Factor prices are r and w respectively and the produ...

A: Here, we have Production function, Q=f(K,L) Rental rate of a unit of capital is given by r which is ...

Q: Distinguish between different types of financing available to sport organizations

A: Answer -

Q: 10) Suppose that the utility function of an individual can be described as U(X,Y) = 4X + 2Y. For thi...

A: Marginal rate of substitution refers to the slope of an indifference curve. Indifference curve shows...

Q: 3) Consider a commodity X whose demand function is 100-2P and which has a perfectly elastic supply c...

A: Given; Demand function; Q=100-2P Supply= Price ( It is given that supply curve is perfectly elastic...

Q: RUE OR FALSE 1. The volume of our money is being regulated by the government and subject to the app...

A: 1. False: The given statement is false because the money supply in the economy is regulated by the c...

Q: firm decides to invest X units of capital in Project A and Yunits of labour in Project B. iv. ...

Q: what do you mean by CIRCULAR FLOW OF GOODS AND INCOME AMONG PRODUCERS AND HOUSEHOLDS

A: circular flow model Lets understand this concept with an example:- In this circular flow model the...

Q: Suppose average real incomes go up by 10% in one year. During that year suppose that: purchases at d...

A: Income elasticity measures the percentage change in demand due to percentage change in income.

Q: You borrowed money from the bank with a simple interest 8%, find the present worth of P25,000, which...

A: Given that: Future Worth (A) = 25000Interest Rate (r) = 8% or 0.08Time(t) = 10 months or (10/12) yea...

Q: QUESTION 6 An increase in the price of a complement would make the curve shift to the CA supply and ...

A: (Since you have asked many questions, we will solve the first one for you. If you want any specific ...

Q: What total payment made today would place the payee in the same financial position as the scheduled ...

A: Given, Interest rate = 4.25% Time = 9month Payment scheduled today = 870 Future value = 1160

Q: The 1928 Kellogg-Briand Pact Question 7 options: a. Allowed Germany to begin rearming. b. Set naval ...

A: Answer-

Q: Suppose the production function for good q is given by q=3 ∙K+2∙ L where K and L are capital and la...

A: Returns to Scale The rate at which output varies when all inputs are altered by the same factor is r...

Q: A machine is bought at P420,000 with an economic life of 6 years and a salvage value of P50,000. The...

Q: 11) Stanley consumes only white and red wines and his utility function can be described by U(R,W) = ...

A: Utility is maximized when the slope of utility function, given by marginal rate of substitution is e...

Q: 13) Consider a technology exhibiting diminishing MRTS. If capital is fixed, but a firm varies labor ...

A: Answer: Diminishing MRTS: Marginal rate of technical substitution refers to the change in capital in...

Q: Which of the following will increase our current inflation rate it O a. None of the answers are corr...

A: Answer is given below

Q: Country A produces GDP according to the following equation: GDP = 5VK. The country has a depreciatio...

A: Let savings rate be represented by s. In steady-state: s×steady state level of GDP=Depreciation rate...

Q: Chambers Company has just gathered estimates forconducting a break-even analysis for a new product.V...

A: Break-Even Point: It is the point of sales at which entity neither earns a profit nor suffers a loss...

Q: An increase in the income tax rate in an attempt to decrease a country's debt-to-GDP ratio may not b...

A: The debt-to-GDP ratio measures the proportion of a country's national debt to its gross domestic pro...

Q: Refer to the data in the table given below. Suppose that the present equilibrium price level and lev...

A: We have been given that dataset C is the relevant aggregate supply schedule. We can see that the pri...

Q: A competitive firm's supply curve is identical to its marginal cost curve. True or false? Briefly ex...

A: A perfectly competitive market refers to the market in which a firm charges the same price is equal ...

Q: For each problem below, a Determinant of Supply has been provided. Create a fictional newspaper head...

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...

Q: a) Derive the goods market demand curve in terms of the output (Y) and the exogenousvariables:c0,c1,...

A: Consider a model of goods market that is characterized by the following equations:- Aggregate deman...

Q: Describe one type of negative market externality with a forest as it relates to climate change. Expl...

A: a) Environmental or forest related externalities, such as natural resources or public health, are ex...

Q: Suppose that the following Cobb-Douglas utility function is given U(X,Y) = X³y/2, Which of the follo...

A: Marginal rate of substitution refers to the ratio of marginal utility of two goods.

Q: Approximately a thousand people enjoy a local beach. The utility each person gets from the beach is ...

A: People who enjoy beach = 1000 Utility, U = x x people contribute to cleaning the beach The total cos...

Q: If steak is a normal good, when incomes rise, the equilibrium price will _____, and the equilibrium ...

A: A normal good is that good whose demand increases when there is increase in the income of the consum...

Q: 4.) Which of the following statements is TRUE? a.) Economists seek to apply the scientific method to...

A: a) Economists seek to apply the scientific method to social science questions this is true statement...

Q: From the following demand and supply equation find the equilibrium price (ePx); Qdx= 30.1Px-270.8 an...

A: The equilibrium price is the only price where the plans of consumers and the plans of producers agre...

Q: Price Sus 23,000 22.000 21:000 20.000 19,000 Dus 123456789 QuTos Refer to the above diagram, where S...

A: Given; World price= $20000 Domestic demand= 8 million autos Domestic supply= 2 million autos Import...

Q: If the input cost adjustment process works very slowly so that actual output differs from potential ...

A: Actual output refers to growth that has occurred in real life, whereas potential output refers to th...

Q: sumes bread and automobiles. In the following table are data for two different years. 2000 2010 Good...

A: a. Year 2000 2010 Nominal GDP 100*50000+500000*10=$10000000 120*60000+400000*20=$15200000 ...

Q: Charlie has a project for which he had determined a present worth of $56,620. He now has to calculat...

Q: 1. The opportunity cost of the good is: a. greater during periods of raising prices b. equal to the ...

A: Opportunity cost Opportunity cost is the cost of next best foregone.The opportunity cost of a specif...

Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

I need the answer as soon as possible

67. Some economists say that profit
earner is a kind of
A. O Rent receiver
B. O Interest receiver
C. O Wage earner
D. O Government officer

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What is the difference between being unemployed and being out of the labor force?
If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
What is die price commonly called in the labor market?
Matt loses his job as a solar panel installer and cannot find another position with equivalent pay and benefits. As a result, he is still According to economists, which term best describes Matt? a. under employed O b. a discouraged worker O c. unemployed Od out of the labour force
1. AK.25L.75 A=4 K= 75 L= 76 a. marginal product of capital b. total payments of labor
Question Bottom of Form XYZ restaurant sells donuts at $2 per unit. It uses 5 units of capital and employs labor in the short run to increase production. Complete the following table and use that information to answer the following questions. K L Q MPL VML 5 0 0 0 5 1 50 50 100 ----- 2 125 ------- 5 3 225 100 What is the Marginal Product of Labor for the 2nd worker? Explain What is the VMPL for the 2nd worker? Explain.
Calculate the Marginal Product of Labor Y=ALαK1-α A= 1.5 α= 0.5 L=Labor K= Capital Factor Markets: Labor Supply (L^S)= 100 Labor Demand (L^D)= 200-5(W/P) Supply of Capital (K^S) = 100 Demand for Capital (K^D)= 200-4(R/P) (W/P)= real wage rate (R/P)= real rental rate
1. Describe how the wage rate and level of employment are determined if the labor market is purely competitive
Only typed answer and please don't use chatgpt 11) Marginal product is: A) total product divided by the number of workers employed. B) the increase in total cost attributable to the employment of one more worker. C) the increase in total revenue attributable to the employment of one more worker. D) the increase in total output attributable to the employment of one more worker.