Q: why
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a ti...
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Q: 1 According to the Solow Model, which of the following statements is correct? 1. An increase in the ...
A: When talking about the Solow growth model, it can be said that the changes in population, capital, t...
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A: Answer-
Q: Qd = 20 – 2P %3D
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Q: Points Price Qd Ed TR (Sales) = Qs Es Price x Quantity Demanded A 50 150 350 45 200 490 C 40 250 700...
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A: Hi! Thank you for the question, as per the honour code, we are allowed to answer three sub-parts at ...
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A: A sum of 25000 is invested for 60-28= 32 years at the rate of 7%
Q: Suppose workers in Canada and the United States can produce either baseball bats or hockey sticks. O...
A: here we calculate the price by the following method as follow;
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Q: Gouge-em Cable Company is the only cable television servicecompany licensed to operate in Backwater ...
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Q: What is the future worth of P600 deposited at the end of every 4 months for 4 years if the interes...
A: GIVEN C = 600 i = 12% n = (12/4)*4 =12
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Q: Explain the shape of shortrun curves or derive the average long run curve from shortrun curve.
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A: The FAR is a chapter within title 48 of the Code of Federal Regulations - TRUE
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- The short run is usually O less than half a year. O one to three years. Otwo to three years. O one year. O four to five years.Economics Now having some knowledge of perfect competition and how/why it's generally experienced only in commodity markets, and that's not an absolute, discuss why the market for housing -though competitive- doesn't function under the theory of perfect competition. Hint: take each of the tenets of perfect competition and ask yourselves (for example) "Are all house the same (homogenous)?"; "Do sellers face buyers with 'few' choices?" -get the idea? In essence, you're describing why real estate isn't perfectly competitive and how those characteristics we studied often do not apply. Enjoy the learning!Assume that a business firm finds that its profit is greatest when it produces $40 worth of product A. Suppose also that each of the three techniques shown in the following table will produce the desired output. a. With the resource prices shown, which technique will the firm choose? Why? Will production using that technique entail profit or loss? What will be the amount of that profit or loss? Will the industry expand or contract? When will that expansion or contraction end? b. Assume now that a new technique, technique 4, is developed. It combines 2 units of labor, 2 of land, 6 of capital, and 3 of entrepreneurial ability. In view of the resource prices in the table, will the firm adopt the new technique? Explain your answer. c. Suppose that an increase in the labor supply causes the price of labor to fall to $1.50 per unit, all other resource prices remaining unchanged. Which technique will the producer now choose? Explain. d. “The market system causes the economy to conserve most…
- hy does a measure of labor productivity—the output produced per worker– rise for many firms during recessions? During the boom years period of 2005through November 2007, the annual average output per worker was lower in U.S.manufacturing than during the Great Recession of 2007–2009 as well during therelatively low-demand years since then through 2013.Firms produce less output during recessions as demand for their products falls.Consequently, firms typically lay off workers during recessions. Thus, whetheroutput per worker rises or falls depends on whether output or employment fallsby more. The labor productivity pattern over the business cycle differs across in-dustries. If we know about a firm’s production process, can we predict whetheroutput produced per worker will rise or fall with each additional layoff?WW is a small automobile manufacturer. The table below shows WW’s long-run average total cost: Quantity of cars LRATC of car 1 $60,000 2 40,000 3 30,000 4 24,000 5 24,000 6 24,000 7 28,000 8 36,000 which levels of output does WW experience economies of scale? ___________ which levels of output does WW experience diseconomies of scale? ___________ which levels of output does WW experience constant returns to scale? ___________Consider a firm that is perfectly competitive in the market for inputs and outputs. Thefirm hires two types of workers: low-skill (high school graduates and high school dropouts) andhigh-skill (undergraduate and postgraduate degree) workers. The firm compensates high-skilledworkers at the rate wH and low-skill workers at the rate wL. It produces the output subject to aCobb-Douglas production technologyF(L,H) = (AH)α(L)β,where H - is the amount of high-skill hours, L - the amount of low-skill hours, and A - thetechnology parameter that augments the productivity of the high-skill labour. 4. In the short run, the firm cannot increase the amount of high-skill labour . Derive the1short-run demand for low-skill labour.5. What is the substitution effect of the wage increase in the short-run?6. Derive the long-run cost-minimizing demands for high- and low-skilled labour. Show thesolution to the cost-minimization problem on the graph
- Answer the following questions on the basis of this information for a single fifirm: total cost of capital = $1000; price paid for labor = $12 per labor unit; price paid for raw materials = $4 per raw-material unit. a. Suppose the firm can produce 5000 units of output by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average total cost of producing the 5000 units of output?b. Now assume the firm improves its production process so that it can produce 6000 units of output by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average cost of producing the 6000 units of output?c. Refer to your answers to 8a and 8b and explain how process innovation can improve economic efficiency.1. A firm's production technology is Y = A * K^0.25 * L^0.75, where the technology level A=8. For such a production function the marginal product of capital is MPK = 0.25 * 8 * K^-0.75 / L^0.75 The firm is stuck with K=81 but is flexible on workers. If the price of the firm's output is P=20 and the cost of a unit of capital is R=8.33, how many workers should the firm have? Round your answer to the whole worker.1. A firm's production technology is Y = A * K^0.25 * L^0.75, where the technology level A=8. For such a production function the marginal product of capital is MPK = 0.25 * 8 * K^-0.75 * L^0.75 The firm is stuck with K=81 but is flexible on workers. If the price of the firm's output is P=20 and the cost of a unit of capital is R=8.33, how many workers should the firm have? Round your answer to the whole worker. The answer is 10. I just need to know how to solve it
- O1. What effect would each of the following have on the value of the firm?.(D) The firm is required to install pollution-control equipment.(e) The workforce votes to unionize.(f) The rate of interest rises.(g) The rate of inflation changes.Please solve Figure 1 below. Figure 1 (a) What assumption does Figure 1 make about the nature of the production function of a firm and what does point A represent? Explain your answer. (b) Reproduce Figure 1 provided in the question. By making appropriate inferences from it, work further to show a new isocost line for the cost level of $1000 on the same figure, if wages fall by 10% while the rental rate on capital increases by 20%. Explain your work carefully. (c) What input combination will the firm use to produce output level of 100, if wages fall by 10% while the rental rate on capital increases by 20%? Explain your answer.identify whether it best applies to lean businesses (L) or traditional businesses (T). Uses push production.
