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It is estimated that a mineral deposit will produce 27,000ton in the coming year and 34,300ton in the subsequent year. It is expected that for the first 12 years the production patter will be of the type V.e^α.k and that for the following 8 years the production will be stable at the same rate as on the twelfth year. What is the present value of future profit from this deposit for i = 0.10 if it is assumed that profit per ton after mining expenses will be $5 for the first 8 years and $7 for the remaining 12 years.
What combination of the two goods below allows you to maximize your utility with a budget constraint of $14? Show how you arrived at your conclusion in the space provided below. Place your final answers on the lines at the bottom of this page. ..
Consider an economy where, consumer's utility function is given as U(C,L)=C-(1/2)L2 . where C is consumption and L is labor. The production technology is Y=(1.6)L-(1/2)L2. The turnover cost per labor is (0.36)/(w/p) (a) What happens to t as real w..
A consumer purchases two goods, food (F) and clothing (C). Her utility function is U(F,C) = FC + C; thus, MUf = C and MUc = F + 1. The price of food is Pf , the price of clothing is Pc , and the income of the consumer is I.
Production of widgets (W) uses labor (L) as its only input. The production function is given by W=F(L)=8*L^.5 and the marginal productivity MPL=4/L^.5. If widgets sell for $10, the price of labor is $8/hour, and there is a fixed cost of $25.
Income Savings I(planned) Consumption 200 -20 60 400 0 60 600 20 60 800 40 60 1000 60 60 1. Fill in the last column. 2. The equilibrium level of income in this example is 3. According to this data, the marginal propensity to consume is .
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $56 and the price at point e is $31 per bag. The price at point f is $67 and the price at point g is $32 per bag.
a. Calculate the marginal revenue product for each additional unit of labor if output sells for $3 per unit b. Draw the demand curve for labor based on the above data and the $3-per-unit product price c. If the wage rate is $15 per hour, how much lab..
John runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth)
You expect to receive a payment of $104 one year from one. Your discount rate is 4 percent. What is the present value of the payment to be received Suppose that the discount rate is 5 percent what is the present value of the payment to be received
Consider the story: Sonya earns $900 per week working as a nurse at Mercy Hospital. She uses $300 to purchase a recliner at Sears. Sears pays Victoria $800 per week to work as a sales associate. Victoria uses $400 to purchase medical services at Me..
Develop an estimate for the cost of washing and drying a 12-pound load of laundry. Remember to consider all the costs. Your time is worth nothing unless you have an opportunity to use it for making, or saving money on other activities.
Suppose you lend $20,000 at a 7.5% interest rate to a friend for one year. At the time of the loan your expected rate of inflation is 2.5% while your friend's expected rate of inflation is 2.9%. However, by the end of that year prices have increas..
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