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According to The Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and capital are used in its production process. Prior to restructuring Mitsubishi’s marginal rate of technical substitution is 0.16 (in absolute value). To hire workers, suppose that Mitsubishi must pay the competitive hourly wage of ¥1,500. In the study of its production process and markets where capital is procured, suppose that Mitsubishi determines that its marginal productivity of capital is 0.75 small cars per hour at its new targeted level of output and that capital is procured in a highly competitive market. The same study indicates that the average selling price of Mitsubishi’s smallest car is ¥1,100,000. Determine the rate at which Mitsubishi can rent capital and the marginal productivity of labor at its new targeted level of output. Instruction: Round your answer for marginal productivity of labor to 4 decimal places. Rental rate of capital: ¥ Marginal productivity of labor: To minimize costs Mitsubishi should hire capital and labor until the marginal rate of technical substitution reaches what proportion? Instruction: Round your answer to 4 decimal places.
In fact, an insurance agent explains that he is always true. Nevertheless, the engineer buys fire insurance. Explain why this is or is not a logical decision.
Understanding the importance of demographics is a key to marketing success. Baby boomers, Gen X, Gen Y a, Milleanials and seniors are all indifferent stages in life and have different wants and needs. Some products are specifically targeted t demogra..
change if buyers pay $8 every unit to the intermediary but sellers offer to rebate part of that expense to buyers.
q1. the abc corporation is contemplating purchasing a new computer system that would yield a before-tax return of 30.
Suppose the candle manufacturing industry is organized as a perfectly competitive market i.e. it consists of many firms with identical cost structures. A single firm's long-run average total cost function is “U” shaped and minimized at an output of q..
Compute the price elasticity of demand for paint and show your calculations. b) Decide whetherthe demand for paint is elastic, unitary elastic, or inelastic. c) Explain your reasoning and interpret your results
A medium-size city has proposed to build a “greenway” along a creek that flows through the center of the city. The city wants to clear a strip about 50 feet wide and construct a paved path for bicycles and foot traffic. The main argument traditionall..
If the CPI was 110 last year and is 121 this year, what is this year’s rate of inflation? In contrast, suppose that the CPI was 110 last year and 108 this year. What is this year’s rate of inflation? What term do economics use to describe this second..
Suppose state income taxes and local income taxes are treated as expenses for purposes of calculating federal taxable income and hence federal income taxes. Determine the effective income tax rate when the federal income tax rate is 31%, the state in..
Explain why it might be desirable to have a regressive tax structure, even if the social welfare function is utilitarian, when general equilibrium effects of taxes are taken into account. Would it ever be desirable to impose a negative marginal tax r..
q. the demand and supply curves for t-shirts in touristtown u.s.a. are given by the following equations 3 pointsq24000-
A local department store puts out products at an initial price, and every week the product goes unsold its price is discounted by 25% of the original price. If it is not sold after 4 weeks, it is sent back to the warehouse. Let W denote your willingn..
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