The table below describes the production function for a candy maker. Number of Output Marginal Product workers 1 30 2 65 3 95 120 135 6. 140 Fill in the table with the values for the Marginal Product. Explain what diminishing marginal product is and state with which worker it sets in.

Q: 6. Countries have different regulations on what may or may not be imported and which tariff applies ...

A: 6.  International trade: - it means the buying and selling of goods and services with other countrie...

Q: are the poorest members of society the greatest beneficiaries in the Difference principle of John Ra...

A: The poorest members of society are not usually the most significant winners under the Difference Pri...

Q: Briefly contrast the difference between equilibrium market outcomes in a monopoly, oligopoly, and pe...

A: The markets are the place where the buyers and the sellers tend to interact and meet with each other...

Q: lth at the end of the year. If you hold the wealth as money, you will have y in wealth at the end of...

A: Opportunity cost of Holding Assets as Money : It is been told that the opportunity cost of holding w...

Q: Using the IS-LM model, determine the impact on consumption (C), Investment (I), output (Y), i (nomin...

A: IS -LM Model is a short run model which depicts equilibrium points in both the goods and money marke...

Q: 3. Consider an economy that only produces mittens. In Year 1, 400 and the price is $5 per pair. In t...

A: Hi! Thank you for the question, as per the honour code, we are allowed to answer three sub-parts at ...

Q: 8. In many developing nations, young women have historically had lower school enrollment rates than ...

A: Below are the points to be considered: *Growth of GDP depends on the resources of a country. *More e...

Q: Define: 1. Contemporary World 2. Globalization

A: CONTEMPORARY WORLD            The contemporary world is an ever changing mix of social and politica...

Q: Consider the following example of bartering: 1 10-ounce T-bone steak can be traded for 5 soft drink...

A: The idea of bartering or exchanging something in-lieu of another stems from the basic idea of an opp...

Q: Recognize the objectives a firm has in setting prices and the constraints that restrict the range of...

A: The goals that assist your organisation in determining the cost of a product or service to existing ...

Q: Consider the economy of Pomistan, where citizens consume only apples. Assume that apples are priced ...

A: PLEASE FIND THE ANSWER BELOW.

Q: Out of a total number of 10,000 candidates who applied for jobs in a government department, 6,854 we...

A:

Q: and average products when Jabot chooses L* to minimize Cost of Qo, given fixed Ko. MP* and AP* are f...

A:

Q: If a country has universal health insurance, the government serves as an insurer and provides insura...

A: In a market, health insurance is obtained by an individual through different ways such as government...

Q: Good X B - ICz A - IC • E Good Y Moving from B to D, the person is giving up Good X and getting Good...

A:

Q: 4. Assume that money velocity is constant. a. Suppose the money supply increases by 12%. What do you...

A: Money velocity:- V*M = P*Q V = velocity of transactions M = Money supply P = price level Q = index v...

Q: Which of the following cost curves is never U-shaped? a. the average fixed cost curve b. the avera...

A: The expenses that are being incurred for carrying out daily transactions of a business is being know...

Q: Consider the balance sheet for Inspired to Thrive (IT) Bank below: Inspired to Thrive Bank Balance S...

A: The reserve ratio is the percentage of a commercial bank's deposits that it must retain in cash as a...

Q: (1) (2) (3) (4) (5) Variable Input Price per Marginal Cost Total Fixed Variable Input Cost Output 1 ...

A: Marginal cost is the change in total cost due to change in output produced. Marginal cost = (change ...

Q: 1. Suppose that the economy can be described by a closed-economy IS-LM framework and that is in a re...

A: PLEASE FIND THE ANSWER BELOW.

Q: The MRS of good Y at Point A on IC, is: Good X 10 IC IC, 12 Good Y 10

A: In economics, the marginal rate of substitution (MRS) is the quantity of one good that a customer is...

Q: The annual amount of a series of payments to be made at the end of the next twelve years is P500. Wh...

A: The present worth of an investment is the sum of money that is invested for achieving a certain amou...

Q: a. Johnson's pig farm faces a demand curve given by Q = 40 - 2P and has a constant marginal and aver...

A: Total revenue is the product of price and quantity. Marginal revenue is the increase in total revenu...

Q: QUESTION 10 onsider the scenario given in the table below for two economies, Economy X and Economy Z...

A: According to the information provided above : Production function : Y = A*KakN Change in Capital : K...

Q: As prices rise, why will producers increase production of a product? O They are required to by law. ...

A: As prices of the product increase, the suppliers will increase the production of the product in orde...

Q: The bicycle industry consists of seven firms. Firms 1, 2, 3, each has 20% of the market share, and F...

A: The correct answer is given in the second step.

Q: The purpose of an ordeal mechanisms is to separate those who truly need assistance from those who ca...

A: 2) Ordeal mechanism is the system of self targeting wherein a mechanism is followed to separate the ...

Q: of workers to two decimal places e.g. 1.00 million and percentages to one decimal place e.g. 1.0%. 2...

A: All A,B & C answers given below, 

Q: Consider a simple economy that produces only apples. The following table contains information on the...

A: In an economy, demand for money is the function of income and constant k, which explains the proport...

Q: In a life-cycle model, a worker with constant household productivity will react to an expec wages by...

A: Labour supply curve shows a positive relationship between wage rate and number of hours labors are w...

Q: Determining the Present Value for a Decreasing Annuity How much money must you deposit now at 6% int...

A: Given the annuity amount = $3000 Interest rate = 6% Quarterly interest rate = 6% / 4 = 1.5% Compound...

Q: If workers look around and see prices rising more quickly than they had planned for, what is the lik...

A: Pay adjusted for inflation, or wages expressed in terms of the number of goods and services that can...

Q: Do you believe that international economic sanctions are effective ? Explain why.

A: International Sanction:- International sanctions can be explained as choices made, politically and e...

Q: Suppose the production function is given by Q = 3K + 4L. What is the average product of capital when...

A: Average Product of Capital = Total Output/Capital Q = 3K + 4L We know K=5 and L=10 So Q = 3*5 + 4*10...

Q: In the long term, the elasticity of supply is affected most by what? Otime O resources O capital O l...

A: The measure that depicts percentage change in quantity being supplied with respect to the percentage...

Q: What is the role of strategic management changing in the context of current economic processes and t...

A: There is a significant role of strategic management in an economy. Several local governments and com...

Q: According to economic theorists, which system should have the greatest degree of control by the stat...

A:   Meaning of Economics: The term economics refers to the situation under which there remain transact...

Q: In a big city 325 men out of 600 men were found to be smokers. Does this information support the con...

A:

Q: Suppose that a firm's production function is given by Q = KL. If capital is fixed at 1 unit in the s...

A: The labor market is the market that is determined by employment and wages. The labor demand curve sh...

Q: e. Dan is Kim's colleague. Michelle assigns Kim and Dan to work on a joint project, which can be des...

A:

Q: A family of four has an income of $15,000 today and will earn $24,000 tomorrow. If the family consum...

A: Introduction Here total income of two period = $15,000 + $24,000 = $39,000 Consumption of the family...

Q: An investment of P270,000 can be made in a project that will produce a uniform annual revenue of P18...

A: In the present worth analysis, we find the present equivalent value of all the cash flows.  In the a...

Q: MU, MRSxy Utility Function MUX U %3D 2х + 3у 2x U = 2y

A: Marginal rate of substitution refers to the ratio of marginal utility of good 1 with respect to marg...

Q: Cost-sharing is used to combat moral hazard at the expense of equity. True False

A: The share of costs covered by your protection that you pay out of your own pocket. This term for the...

Q: If you were to accept a position in another state, why do you believe it would be important to under...

A: The laws that aim to correct the power imbalance between employers and workers within the work envir...

Q: . Analyze ways in which the workplace, occupations, the nature of work, and working conditions in Ca...

A: The global economy refers to the global economic system, which includes all economic activities that...

Q: Audra runs a movie memorabilia website. Last year, she earned $35,000 in revenue and had explicit co...

A: Economic profit is the revenue that is left after paying explicit and implicit cost of a business.

Q: 8. A dealer makes a net profit of 40% based on when he sells a computer for RM 1350. If the operatin...

A: Breakeven price "it is amount of money or change in value for which  an asset must be sold to cover ...

Q: Initially there were 9 workers, all being paid a uniform wage. Later a 10th worker is added whose ra...

A:

Q: phone-making company operates a plant in City A where labor is more expensive as compared to capital...

A: A. Isocost line represent the input required to produce same level of output. Here the isocost line ...