What is the marginal efficiency of capital?

Q: Suppose a new drug was discovered that slowed the deterioration of health that accompanies aging.…

A: A new drug was discovered that slowed the deterioration of health that accompanies aging.  The MEC…

Q: actors of production

A: Competition: It refers to the emerges at whatever point at least two gatherings make progress toward…

Q: 1 3 Consider the production function f (x,,x,) = x+x; . Derive the marginal products of factor 1 and…

A: The given production function, fx1,x2= x114x234 The marginal products are determined by derivating…

Q: The demand curve for capital Oa. is derived from households' decisions concerning saving and…

A: Demand curve for capital shows different combinations of quantity of capital demanded at different…

Q: EXPLAIN the reason of increasing returns to a factor

A: # The increasing returns to a factor is the first phase of law of variable proportion. It is…

Q: When Marx writes of labour and its values, he focusses on socially necessary labour. why?

A: Socially necessary labour In Marx's criticism of political economics, socially necessary labor time…

Q: Some economists say that profit earner is a kind of

A: To find : What is  profit earner type

Q: Does the government have implemented the Land Reform in the Philippines so that the landless would…

A: In the economy of Philippines, it can be seen that people were struggling with poverty and unfair…

Q: Which component of a research study is exemplified in the statement, This study identifies various…

A: Research study involves studying and analyzing the data and information about something.

Q: What is meant by an inferior factor of production? How would the firm’s demand for labour be altered…

A: In economic representations, factors of production can be described as inputs that are utilized for…

Q: In what sense is education a type of capital?

A: In economics capital (k) is an essential element of wealth which defines the growth of the output.…

Q: What is an isoprofit line? What is a factor demand curve?

A: The iso-profit line indicates the same amount of profit that produces by different combinations. In…

Q: (b) Prove that the per-worker production function has the following properties: f'(k) > 0, lim f'…

A: We know, f(k)≡F(k,1) Where k=K/L,   Y=Lf(k)                    {if f(k)=y} So that:…

Q: . Which of the following is NOT the assumption of the Marginal Productivity Theory of Distribution?

A: To find : Which is not assumption of marginal productivity theory of distribution.

Q: Explain the Economic Function of the Entrepreneur

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: 8. All labour is A. O Homogeneous B. O Heterogeneous C. O Lazy D. O Intelligent

A: The work which is being done by a particular worker or the group of workers in exchange for money is…

Q: Q = 4L + 8K Q = 50K04L0.6 Q = [K0.5L0.5]3 i) Calculate the marginal products of labor and capital

A: Marginal product is the change in total product with an additional unit of input hired. Marginal…

Q: All of the following, except one, are examples of the factor land. Whi exception? O Minerals Natural…

A: There are four factors of production, i.e., land, labor, capital, and entrepreneurship.

Q: When a higher fraction of people work in creating new technologies, output falls. O True O False

A: The economics as a study is based upon the idea that the amount of resources which each society, or…

Q: What is q group of workers

A: workers are the employees working for an organization.

Q: The earnings of workers O a. depend on the highest degree earned O b. do not depend on the college…

A: Marginal benefit(MB) is the extra benefit received from consuming 1 more unit of a good. It shows…

Q: Is increased income inequality a natural outcome of the a capitalist system? O Yes No

A: Capitalist system refers to economic system where the production resources are owned by the…

Q: What is the significance of the mobility of factors of production (land,capital,labour,…

A: Factors of production: - The inputs that are used to produce goods and services known as the factors…

Q: t is an ideal industrial society?

A: Answer is given below

Q: Passive factor of production is

A: To find : Which is passive factor of production.

Q: Which of the following is NOT the assumption of the Marginal Productivity Theory of Distribution?

A: To find:  Which of the following is NOT the assumption of the Marginal Productivity Theory of…

Q: Labor and capital can never be substituted for each other. true or false?

A: Factors of production:-  Factors of production, basically refers to the resources employed by people…

Q: What is Labour

A: Labor is one of the four factor of production along with capital, land and entrepreneurship.  Labor…

Q: What is labor economics? Which types of questions do labor economists analyze?

A: The term labour applies to jobs in economics, and a labour receives wages on the basis of the…

Q: hich 2 of the following statements are correct? elect one or more: O a. The higher capital per…

A: Production function shows how with increases in the input the output increases. It gives the…

Q: An increase in the price of capital will the demand for labor if the scale effect dominates. demand…

A: In the production process, labor and capital are two basic inputs to generate output. Some products…

Q: 37. If Y = AKOSL°$ and A, K, and L are all 4, then the marginal product of capital is: а. 2. b. 4.…

A: A=4K=4L=4

Q: What are some of the uses to which labors tandards are put?

A: Labor standards refer to standard conventions relating to workers, such as basic worker rights,…

Q: Given the following Q=100k0.5 L0.8 C=12000 W=400=500 Determine the quantity of labour and capital…

A: A production function exhibits the technical relationship between the inputs and the output level.…

Q: 4. Ariel's T-shirt company hires labor at a rate of $8 per hour and rents capital (sewing machines)…

A: Given , Production function : q = 6K1/3L2/3 w = 8 /hour  r (cost of sewing machines ) = 128 per…

Q: Economists Conclude that a tax on the revenues of firms will be shifted in part to consumers of the…

A: Tax is the source of income of government and it has the impact on economy because higher tax can…

Q: What is managerial economy

A: Economics is considered to be a very vast area of study, as it involves discussions regarding…

Q: What factor limits the amount a firm can pay a worker to produce a product?

A: The firm uses the labor or worker as long as it is profitable. The productivity of labor decides the…

Q: 8. Factors of production can be: (a) Land (b) Labour (c) Organisation (d) All of the above

A: # Goods and services can be produced using the fundamental units of an economy which are resources.…

Q: xplain how the optimal consumption of goods and leisure is reached in the labour market. Support…

A: Optimal consumption of goods and leisure is reached where the consumer utility is maximum.

Q: Suppose a new drug was discovered that slowed the deterioration of health that accompanies aging.…

A: A new drug was discovered that slowed the deterioration of health that accompanies aging.  The MEC…

Q: In applying factor markets , suppose mr. Youw is in a restaurant giving his order to the server…

A: A factor market is a market where input factors are purchased and sold in economics. Firms purchase…

Q: What is the long demand for capital and labor?

A: In the long term, expectations, contractual pay rates, and general price levels will all totally…