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A firm has the following relationship between the number of employees it has (E) and its daily output: Employees (E) output APE MPL VMPE 0 0 1 50 2 60 3 68 4 74 5 78 6 80 In the table above, calculate and enter the average products of labor (APE). In the table above, calculate and enter the marginal products of labor (MPE). Assume that the firms output is sold at a price of $20 a unit. Calculate and enter the value of marginal product of labor (VMPE). Say that the wage rate is $ 100/day. How many workers will this firm hire, as a profit maximizer? If the wage rate rises to $150/day, how many workers will this firm hire?
How much money should you invest in a fund that will pay 8% compounded monthly, if you want to have $40,000 in the fund at the end of 20 years?
Describe fully with many paragraphs in an essay style, the economic arguments for and against a free market approach to allocating scarce resources. Provide a unique real world (come up with them on your own) example where the free market defiantly a..
Illustrate what is the impact of this sale on GDP for 2002. Assume no realtor is involved in the sale.
A young couple is purchasing a new sport utility vehicle. The price of the new vehicle is $28,300, sales tax is 7.5%, title and registration will cost $105. The dealer is offering a special finance rate of 1.9% APR for 36 months (compounded monthly)...
Suppose as to what might be the four firm concentration ratio for corn growers in the US
Among his many endorsement contracts professional golfer Tiger Wood endorses Buick automobiles. Buick reportedly recently extended his contract for another 5 years at $40 million. If Buick makes $4,000 profit per car they must expect to sell at least..
An engineer deposits $900 each month into a retirement account. After 30 years, the balance in the account is $1.7 million. Determine the effective annual rate of return for this account.
Wheat farmers will receive total revenues from consumers and the government totaling
What are the main reasons for the existence of financial intermediaries? Define asymmetric information. What is the Asymmetric information problem of lending? Discuss the adverse selection and moral hazard problems of lending.
Create graphs and tables to illustrate costs and revenues for firms in different market structures. You have learned about the market structures of pure competition, monopoly, monopolistic competition, and oligopoly. In this assignment, you will appl..
Recall from Exercise Ul the population of animals fighting over a food source worth 200 calories. Assume that, as in part (b) of that exercise, the cost of a fight is 150 calories per fighter. Assume also that a third phenotype exists in the populati..
How is the fact that more low-income families are sending daughters, rather than sons, to college likely affecting the female income gap in the future? Why do you think economists argue that the female wage gap will not entirely disappear unless wome..
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