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1. If the ratio between the price of labor and the price of capital (w/r) is smaller than the ration between the marginal product of labor and the marginal product of capital, the firm should hire more capital.
True
False
2. Normally the ratio between the price of a variable input and the marginal product of that input is equal to marginal cost.
3. When labor is a variable input the product of wage and marginal product of labor is equal to the profit-maximizing price.
4. If the price falls below the average total cost the firm may not shut down in the short run.
A country has a comparative advantage in a good if
q.assume there are 100 identical firms in an initially competitive market. market demand is given by p10-q200 and
Explain why is the law of supply and demand in applicable without a ceteris paribus assumptions.
Undergraduate student (age 22) gets a job that pays $49800 per year. Planning to retire at age 67, she decides to save 10% of her current salary each year. If she is able to get an average ROI of 5.8% per year, how much will she have saved when she r..
If combination of rational expectation and perfectly competitive markets , a decrease in aggreage demand will lead to? A. A small decrease in real GDP B. No change in real GDP C.
International trade has many tradeoffs for each country. Overall, what has been the global trend in trade policies from 1950 to 2000?
What reliance performance would be measured efficient. Elucidate reliance behavior which would be considered excessive.
here are many liquid cold medicines, all of which have almost exactly the same ingredients. Yet medicines with brand names that the man recognizes from television commercials are for more than the unadvertised versions. Elucidate in economic terms..
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
Economic profit is the difference between a firm's total revenue and its. What is the difference in profit maximization between the perfect competitor and all other types of firms?
A corporate expects to receive $34,688 each year for 15 years if a particular project is undertaken. There will be an initial investment of $122,261. The expenses associated with the project are expected to be $7,426 per year.
Suppose the one-year interest rate on Swiss France is 10% and the US Dollar interest rate is 12% and the current $/SF spot rate is 0.8. What do you expect the 12-month forward rate by using the interest rate parity? Suppose the actual 12-month forwar..
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