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You run a small business that uses both capital and labor to produce your output. The machinery (capital) has a marginal cost equal to $25 per hour and a marginal product equal to 50 units per hour. The marginal cost and marginal product of capital are assumed fixed at these levels regardless of the level of output. Assume wages are your only cost for labor and your firm’s wage rate equals $12 per hour. You are given the following information on the output and productivity of labor. Assume the firm is interested in maximizing profits. Units of Labor Total Output per Hour 1 35 2 65 3 89 4 109 5 124
A normal demand curve is assumed to be downward sloping, identify any four abnormal(exceptional) demand curves
What is happening to the value of the U.S. dollar these days? What causes the value of the U.S. dollar to rise or fall? Who demands U.S. dollar? Who supplies U.S. dollar? When we purchase the German products, our demand for euro is going up or down? ..
Identify the subject and theme of Managing for Stakeholders. Explain what you believe is the basic argument. What were some of the main points? What is odds with our society the way it is currently constructed? What specifically would change on socie..
The following events occur in the market for good B, which is a normal good: Identify the impact of the event to the equilibrium price and quantity of each event.
Consider an economy in which the amount of investment is equal to the amount of savings (i.e., the economy is closed to international flows of capital).
When the price of good X is 100, the quantity demanded is 100. Calculate the relevant elasticities for the following changes: When the price of X changes to 50, the quantity demanded rises to 250. When the price of Y changes from 5 to 10, the quantit..
If I were a multinational U.S. corporation who enters into a joint venture in Brazil (with a Brazilian company) to make and sell a product in Brazil---but the currency is dropping against the U.S. dollar, and the economy is in a recession, what does ..
Demand: P= 50-QD and Supply: P= 25-QS Assume that the government levied a 25% tax on the suppliers of mangoes. Illustrate graphically the different economics effects of the tax.CALCULATE AND COMPUTE THE DEADWEIGHT LOSS AND TAX BURDEN.
What is the average inflation rate. Explain how would inflation be different if real income growth were higher.
Broad overview of economy and oil in the world
Identify the legal concept of negligence and discuss the demands necessary to establish a negligence cause of action. Be sure to pay particular attention the issues of causation, foreseability, proximate cause and the defense one may have to a neglig..
In year 2013, the population of island I is 210, 000 people, of which 150,000 are aged 16 or older. Of this 150,000 people, 100,000 have jobs (50,000 do not). Find the employment rate is for 2013. What is the labor force participation in 2013?
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