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Consider the following scenario: the firm estimates that currently, its marginal product of labor is 80, while the marginal product of capital is 160. The firm pays $40 in the rental price of capital and $15 in wage. Can this firm improve its profits by adjusting its labor and capital combination while holding the overall costs of production constant? And if yes, how? (Assume the standard assumptions about the production function, i.e. diminishing marginal products).
In todays modern world oil is considered a key factor for the economic growth of a country in the view of declining oil prices over the last couple of months critically evaluate its impact on a capital market of an oil exporting country like UAE.
Find outing relate to economist's traditional focus on Illustrate what people do, rather than Illustrate what they say they will do.
In what situations will a court impose a strict liability standard instead of a negligence standard? Provide a real-world example of a strict liability case. Is imposing this standard fair? Are strict liability standards fair as a general rule?
Suppose there are two firms in a market that each simultaneously chooses a quantity. Firm 1’s quantity is q1, and firm 2’s quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 160 – 3Q. Also, each firm..
1. Assume households have utility function U(C, I) = 2cl1/2, can earn wage w per hour worked, and receive V in non-wage income. Total amount of time available for leisure l and labor h is T = h + l.
The following table shows an abbreviated income statement and balance sheet for McDonald's Corporation for 2012. INCOME STATEMENT OF MCDONALD’S CORP., 2012 Calculate McDonald’s free cash flow in 2012. (Enter your answer in millions.) Free cash flow $..
A consumer has preferences between two goods, hamburgers (measured by H) and milkshakes (measured by M). His preferences over the two goods are represented by the utility function U = √H + √M. For this utility function MUH = 1/(2√H) and MUM = 1/(2√M)..
q.q1. illustrate the following with supply and demand curves before economic reforms were implemented in the countries
The Dominick's supermarket chain sells Nut Flakes, a popular cereal manufactured by the Tastee cereal company. Demand for Nut Flakes is 1.000 boxes per week. Dominick's uses an interest rate of 25 percent per year for holding cost and incurs a fixed ..
If the United States is a net importer of a product that is being subsidized or dumped by Japan, not only do US consumers gain, but they also gain more than US producer lose from the subsidies or dumping. Explain why.
Which of the following factors would result solely in a movement along the demand curve for a particular good?
You are a lawyer working with the International Court of Justice in The Hague in the Netherlands. Your task is to review a recent decision by a U.S. judge regarding extraterritoriality. What factors most influenced your decision? Do you know of any I..
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