The inner loop of the circular-flow diagram represents the flows of inputs and outputs. Which of the following does not appear on the inner loo Oland O goods and services sold O wages O capital
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![The inner loop of the circular-flow diagram represents the flows of inputs and outputs. Which of the following does not appear on the inner loop
Oland
O goods and services sold
wages
O capital](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff5482b56-7cb4-4e9b-9843-f96f994ffc37%2Ffed235f9-5e87-425e-abff-d64e0b747400%2F5t4538g_processed.jpeg&w=3840&q=75)
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- Describe the similarities and differencesbetween the markets for land and capital and themarket for labor.Describe the similarities and differencesbetween the markets for land and capital and themarket for labor.homework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA Diana Arenas - REFERENCIAS CORRESPONDENCIA REVISAR VISTA X Cortar A Buscar - - |11 - A Calibri (Cuerpo) A Aa- A AaBbCcDd AaBbCcDd AaBbC AaBbCc AABI AaBbCcD ab Copiar Sac Reemplazar A- aby , A 1 Normal 1 Sin espa.. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 11. Price discrimination only occurs under monopoly. True or false 12. It is true that the distribution process carried out by the price system A. All of the responses are true B. accomplishes the task more efficiently than central planners would. C. favor the rich D. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences 13. It is in society's best interest that the MC of the last unit product of a good is equal to its MU. True or false 14. For a monopoly, MC=MRWhat is the Theory of Production in economics? Explain..homework micro.docx - Word (Error de activación de productos) ARCHIVO INICIO INSERTAR DISEÑO DISEÑO DE PÁGINA CORRESPONDENCIA Diana Arenas - REFERENCIAS REVISAR VISTA X Cortar A Buscar - -|11 - A Calibri (Cuerpo) A Aar A AаBЬСcDd AaBЬСcDd AaBbС AаBbСcС Аав АавЬСсD ab Copiar Sac Reemplazar 1 Normal 1 Sin espa. Título 1 Título 2 Puesto Subtítulo Pegar N K abe X, x² A - aly . A Copiar formato Seleccionar - Portapapeles Fuente Párrafo Estilos Edición 21. Laissez-faire is a policy that espouses central planning. True or false 22. If MU=MC=P, and economist van judge with certainty that the distribution of output is A. Equal B. efficient C. Fair D. Unbiased 23. If arrival and departure delays are frequent early in the morning and late afternoons, but there are no delays during the evening hours, we can conclude that the airport authority A. Charges high landing fees at common departure and arrival times B. Should reduce the number of flights during the busy times C. is concerned about the…As an economist it is important to know that resources are scarce. Explain what u understand that resources arenscarce in economic terms1. The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Firms Markets for Goods and Services Markets for Factors of Production Based on this model, households earn income when Households purchase in markets for factors of production. Suppose Yvette earns $600 per week working as a doctor for the Medical Clinic. She uses $8 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Sean $225 per week to work the cash register. Sean uses $225 to purchase medical services from the Medical Clinic.Imagine a firm that employs two types of workers – some with computer skills and others withno technology related skills. (i) Explain how a firm’s production function is related to its marginal product of labour, howa firm’s marginal product of labour is related to the value of its marginal product and how afirm’s value of marginal product is related to its demand for labour. (ii) Explain how the wage can adjust to balance the supply and demand for labour whilesimultaneously equalling the value of the marginal product of labour.202IG-ITBIUI-1252178 > ITB 101 - Final Exam > ITB Kontrol paneli Site ana sayfası Takvim Nişanlar Tüm dersler Course dashboard Soru 20 A graph that shows all the combinations of labor and capital that can be used to produce a Henüz given amount of output is called cevaplanmadı 4 üzerinden Lütfen birini seçin: işaretlenmiş O A. production curve P Soruyu işaretle O B. an average cost curve O C. an isoquant curve O D. an isocost line O E. an indifference curve ÖNCEKİ SAYFA SONRAKİ SAYFA Aramak için buraya yazın 立I don't know how to draw that graph and about those changes..Will u please help me to solve that issue?The nation of Ectenia has 20 competitive appleorchards, all of which sell apples at the world priceof $2 per apple. The following equations describethe production function and the marginal product oflabor in each orchard:100100 2 ,2 5 25 2Q L LMPL Lwhere Q is the number of apples produced in a day,L is the number of workers, and MPL is the marginalproduct of labor.a. What is each orchard’s labor demand as a functionof the daily wage W? What is the market’s labordemand?b. Ectenia has 200 workers who supply their laborinelastically. Solve for the wage W. How manyworkers does each orchard hire? How much profitdoes each orchard owner make?c. Calculate what happens to the income of workersand orchard owners if the world price doubles to$4 per apple.d. Now suppose that the price is back at $2 perapple but a hurricane destroys half the orchards.Calculate how the hurricane affects the income ofeach worker and of each remaining orchard owner.What happens to the income of Ectenia as a whole?traai, hatrar resources, 3. The circular flow model The following diagram presents a circular flow model of a simple economy. The inner set of arrows (shown in green) shows the flow of dollars, and the outer set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Product markets Revenue- Products Firms Households - Income preneurial ability Resources Resource markets purchase in the resource markets. Based on this model, households earn income when Suppose Ginny earns $875 per week working as a programmer for PC Pros. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Eric $300 per week to wash cars. Eric uses $350 to purchase software from PC Pros. Goods and services Expenditure , capit entrenConsider the labor market defined by the supply and demand curves plotted on the following graph. Use the calculator to help you answer the following questions. You will not be graded on any changes you make to the calculator. WAGE (Dollars per hour) 24 21 18 15 12 6 3 0 0 Supply Demand 150 300 450 600 750 900 1050 1200 LABOR (Thousands of workers) Graph Input Tool Market for Labor Wage (Dollars per hour) Labor Demanded (Thousands of workers) Which of the following statements are true? Check all that apply. 3.00 1,050 Labor Supplied (Thousands of workers) Suppose the federal government contemplates a new law that would create a national minimum wage of $9.00 per hour. Complete the following table with the quantity of labor supplied and demanded if the wage is set at $9.00. Then indicate whether this wage will result in a shortage or a surplus. Hint: Be sure to pay attention to the units used on the graph and in the table. For example, type in 100 for 100,000 workers. Labor Demanded…SEE MORE QUESTIONS
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