The income of landowners in every country, Managerial Economics

In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good.
The land supply in every country and the technology of production are exactly the similar. The marginal product of labor in every country depends on employment as follows:

691_33.png


Initially there are 11 workers employed in Home but only 3 workers in Foreign. Find the effect of free movement of labor from the high wage to the low wage country. When such economic migration ceases, what will be the levels of production, real wages and the income of landowners in every country?

 

Posted Date: 3/15/2013 2:48:56 AM | Location : United States







Related Discussions:- The income of landowners in every country, Assignment Help, Ask Question on The income of landowners in every country, Get Answer, Expert's Help, The income of landowners in every country Discussions

Write discussion on The income of landowners in every country
Your posts are moderated
Related Questions
CHARACTERISTICS OF MANAGERIAL ECONOMICS 1. Uses theory of firm: Managerial economics uses economic principles and conceptsthat are known as theory of Firm or 'Economics of the

Antitrust authorities at the Federal Trade Commission are reviewing your company's recent merger with a rival firm. The FTC is concerned that the merger of two rival firms in the s

Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2

Uses of Indifference Curve Analysis Indifference curve analysis is useful when studying welfare economics as follows: They are used to indicate the amount of income and

A. Write a detailed essay on the importance of economics to managers. OR  What is the role of managerial economics in organizations ? B. What are the methods of measuring nation

Part A : Select one of the following economic issues and discuss how it impacts on your organisation. Analysis of consumer demand Cost analysis Market structure and

The theory of consumer's behavior seeks to explain the determination of consumer's equilibrium. Consumer's equilibrium refers to a situation when a consumer gets maximum satisfacti

REMEDIES FOR UNEMPLOYMENT The measures appropriate as remedies for unemployment will clearly depend on the type and cause of unemployment.  Broadly they can be divided into:

Meaning of Inflation There has been a proliferation of definitions of inflation. Many of these definitions, however, embody the description of the processes by which the underl

Assumptions of Monopolistic Competition Monopolistic competition as the name implies, combines features from both perfect competition and monopoly.  It has the following featu