Find out the total hours per week

Assignment Help Macroeconomics
Reference no: EM1311848

The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours  Per week (QT) supplied to the market.

Hour wages

Hours per week

Q1

Q2

Q3

Qt

$5

20

0

0

-

6

25

0

0

-

7

35

10

0

-

8

45

25

10

-

9

42

40

30

-

10

38

37

45

-

Which individuals, if any, have backward-bending supply curves in the wage range shown? Does the market supply curve bend backward in the wage range shown in the table?

Reference no: EM1311848

Questions Cloud

Compute total cost and total revenue : Answer the following questions on the basis of the monopolist's situation illustrated in the following graph.
Determine contribution margin : Determine the following Contribution margin, break even, targeted profit and Gilley, Inc., sells a single product.The company's most recent income statement.
What is an angular acceleration of the pulley : A shuffleboard disk is accelerated to the speed of 6.1 m/s and released. If the coefficient of kinetic friction between disk and the concrete court is 0.30, how far does the disk go before it comes to a stop? The courts are 14.5m long.
Time required by a rocketship to attain the speed of light : Assume a rocketship in deep space moves with constant acceleration equal to 9.8 m/s2, which gives the illusion of normal gravity during the flight. Estimate the time required by a rocketship to attain the speed of light and the distance travelled t..
Find out the total hours per week : The following table shows the hours per week supplied to a particular market by three individuals at various wage rates. Calculate the total hours  Per week (Q T ) supplied to the market.
Government would have to do to keep the unemployment : Give reasons to elucidate what the government would have to do to keep the unemployment rate at 3 percent.
Probability-normal distribution : Find the area under the normal distribution curve to the right of z = -1.03.
Determine the average manufacturing cost per unit : Determine the average manufacturing cost per unit and What is the amount of ending finished goods inventory?
What is the angle of bright fringe in radians : A gymnast of mass 55.0 hangs from a vertical rope attached to the ceiling. You can ignore the weight of the rope and assume that the rope does not stretch. Use the value for the acceleration of gravity.

Reviews

Write a Review

 

Macroeconomics Questions & Answers

  Determining isocost graph

Suppose you are reviewing an isocost graph. The axis on the graph shows capital units on the vertical axis, and labor units on the horizontal axis.

  Finding optimal weekly output and price of firm

Find out the optimal weekly output and price of this firm. Find out the weekly profit from the production and sale of this product.

  Variables which are based on experience of us economy

Discuss the relationship between each of the following variables based on the experience of U.S. economy over the past 30 years.

  Different cost calculations of cost equation

Assume you hire a furloughed Wall Street analyst to aid you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2.  Using this equation, answer the following ..

  What will be the effect of change in policy

What will be the effect of this change in policy on both the real and the nominal interest rate in the long - run?

  Price regulation in product markets

This document shows evaluation of alternative approaches to analysing the effectiveness of public policy and Assess the impact of government policies on selected areas.

  Equilibrium price and output in short run and long run

Find out the average total cost and average variable cost as a function of the level of output. Assuming the firm has the same cost curves in the long-run for q>0 and C (0) =0, how much will it produce in the long-run?

  Explanation of social welfare under tariff

What is autarky price and quantity equilibrium for both home and foreign? What is the open trade price and volume under free trade.

  Canadian inflation and money supply growth

In the 1970s people had become accustomed to high inflation. In 1979, Bank of Canada decided to fight inflation and decreased the money supply growth rates.

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Efficient allocation of resources

Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?

  Supply and foreign exchange market operation

According to the quantity theory of money, what is the effect of increase in quantity of money?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd