User Account

All Pages

What are the current prices of capital and labor

Assignment Help Microeconomics
Reference no: EM13337778

Q = 1,000

TC = 500

a. What are the current prices of capital and labor?

b. Suppose that the price of labor increases, if the firms wishes to continue to produce the current level of output how will the firms optimal input choice change (relative to its current choice)? Support your answer with graph.

Reference no: EM13337778

Questions Cloud

Calculate the final velocity of a hoop : What is the final velocity of a hoop that rolls without slipping down a 6.50 m high hill, starting from rest
Determine the force exerted by the muscle : A soccer player extends her lower leg in a kicking motion by exerting a force with the muscle above the knee in the front of her leg. What is the force exerted by the muscle if its effective perpendicular lever arm is2.00 cm
Product led to an associated decrease in mcgwires average : In 1998, Mark McGwire hit 70 home runs while playing for the St. Louis Cardinals. In 1999, McGwire hit 65 home runs. This decrease in marginal(home runs per season) product led to an associated decreas
Find the tidal force exerted on your body by the black hole : The magnitude of the tidal force exerted on an object of mass m and length a is approximately 4GmMa/r3. find the tidal force exerted on your body by the black hole
What are the current prices of capital and labor : Suppose that the price of labor increases, if the firms wishes to continue to produce the current level of output how will the firms optimal input choice change (relative to its current choice)? Support your answer with graph.
Will sales of whiskey rise or fall, and by what percentage : The price elasticity of demand for imported whiskey is estimated to be -0.20 over a wide interval of prices. The federal goverment decides to raise the import tariff on foreing whiskey, causing its price to raise by 20%. Will sales of whiskey rise or..
Evaluate the value of go in kj for the reaction : Given the values of ?Gfo given below in kJ/mol, calculate the value of ?Go in kJ for the reaction at 298 K.: 3 NO2(g) + H2O(l) => 2 HNO3(l) + NO(g) ?Gfo (NO2) = 51.0 ?Gfo (H2O(l)) = -235.3 ?Gfo (HNO3) = -81.7 DGfo (NO) = 86.8
Define what pressure will it exert at 18.2l and -11 degree c : If a gas occupies 22.2L at 825mmHg and 35 degree C, what pressure will it exert at 18.2L and -11 degree C
What are the major determinants of a product : What are the major determinants of a product's price elasticity of demand? Studies indicate that the demand for Florida oranges, Bayer aspirin, watermelons, and airfares to Europe are elastic. Why?

Reviews

Write a Review

Microeconomics Questions & Answers

  Example of third-degree price discrimination

Describe the process by which the competitive market establishes a price at which all firms are just earning normal profits.

  Evaluate the accuracy of the forecast

Evaluate the "Accuracy" of the forecast for the "hold out period" using RMSE and MAPE error measures used from forecast period residuals and comment them.

  Determine which good lakshani should spend more on

For each of the following situations, decide whether the bundle Lakshani is thinking about consuming is optimal or not. If it is not optimal, how could Lakshani improve her overall level of utility

  Explain distribution and transportation issues

Legal Issues- do you follow US law or Switzerland 8. International Franchising- any issues 9. Intellectual Property considerations 10. Completion of import documents needed for entry into the U.S. to include the tariff classification number and i..

  Explain second-degree price discrimination

Second-degree price discrimination is also known as block rate setting. captures all consumer surplus. sets a different price for each customer.

  Determine reduced amount of output he produces

The owner of Michaels Prints a firm that prints business cards tell you that as a result of an increase in the wage rate of printer operators he has reduced the amount of output he produces and the amount of capital he uses how should you respond

  Aura has a utility function

Aura has a utility function given by U(X, Y) = 4X0.5Y0.5. The current prices of X and Y are $25 and $50, respectively. Laura currently has an income of $750 to spend on X and Y.

  What money supply should the bank of canada set next year

Suppose that velocity is constant and the economy's output of goods and services rises by 5 percent each year. What will happen to nominal GDP and the price level next year if the bank of Canada keeps the money supply constant

  How to calculate the total cost of production

Fixed cost of production are $6 and the variable cost per unit of labor is $10. The marginal product of the seventh unit of labor is 4. Given this information. what is the total cost of production when the firm hires 7 workers.

  Which would cause inputs to a firms production process

It is argued that the prices of inputs to firms' production processes are fixed in the short run. One example of why this might be true is that some large firms enter into futures contracts forlarge deliveries of raw materials like wheat or lumber..

  Critics of the minimum wage

Critics of the minimum wage discuss that as an antipoverty device it is "poorly targeted." By this they mean that:

  Determine supply curve for a single firm

Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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