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Important information about Perfectly competitive firms
A perfectly competitive firm should hire an additional worker only if:
a) total revenue is less than total cost.
b) the worker's marginal revenue product is less than the wage rate.
c) the worker's marginal product falls.
d) the worker's marginal product rises.
e) the worker's marginal revenue product exceeds the wage rate.
Elucidate how he should use information on the marginal catch at each lake to accomplish this goal. Illustrate what division on the 40 fishers would you recommend.
Draw a diagram showing the current situation of the firm. In addition to the above information, suppose the price of the output is $13/unit, if the firm wants to maximize its profit, what should it do? Explain in detail with the aid of a diagram.
Evaluate: "The fact that some airplanes collide is evidence there is 'too little air traffic control'." (Be sure to explain what too little might mean.)
Provide a graph of the Solow model, indicating the position of the golden rule level of saving (SR), and explain why it is preferred.
Fiscal policy also decrease the dollar like monetary policy.
Let's say there's a world-wide influenza pandemic. Assume that the marginal cost (supply) of influenza vaccinations is constant at $40. Assume that everyone in society has health insurance that pays 80% of all medical services
Suppose that rich countries surprisingly commit to much higher official aid, to be maintained for several decades. What would be the effect of such aid on?
Elucidate how might raise the chance that the employee would retire earlier as compared with the situation where the employee had to pay for his own health insurance.
The socio-economic shortcomings that China experienced
Using the exchange rates and prices in the tables above:
Briefly accounting describe two limitations of national income. On the basis of these data calculate GDP, GNP, NDP, NI, PI, and disposable personal income.
Adopting the main features of the neoclassical supply of labour, elucidate how these 2 factors may be related.
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