Stolper-samuelson theorem has firms using more skilled labor

Assignment Help Business Economics
Reference no: EM131242358

A? counter-example to the? Stolper-Samuelson theorem has firms using more skilled labor as it becomes more? expensive, and less unskilled labor as it become less? expensive, even if the firms have time to adjust their labor mix. How can this possibly? be?

A. Broader technology applications require more skilled labor and less unskilled labor.

B. Skilled labor is an inferior? good, as defined in? microeconomics, hence higher price means higher demand.

C. Unskilled labor is an inferior? good, as defined in? microeconomics, hence lower price means lower demand.

D. Both B and C.

Reference no: EM131242358

Questions Cloud

How is rent determined on plots of land of different quality : How is rent determined on plots of land of different quality? Does it matter whether or not the supply of factor inputs used on the land is perfectly elastic? Suppose that the factor supply curve is perfectly inelastic. What happens to land rent on e..
Determination of the rent-maximizing solution : Suppose that labor and fertilizer (another variable input) are used to produce crops from a piece of agricultural land. How much labor and fertilizer would the landowner use if he seeks to maximize land rent? Explain quantitatively the determination ..
Find the optimal monthly sales volume : A company manufactures several products. The fixed costs assigned to Product 'A' are $8,000 per month. The variable costs are $4.00 per unit produced. The per unit price (p) at which this product can be sold is related to the quantity sold per month ..
What is the total consumer surplus in equilibrium : How large would this shortage or surplus be? Using the equations above, solve for the equilibrium price and quantity. Assuming a continuous demand and supply curve, what is the total consumer surplus in equilibrium?
Stolper-samuelson theorem has firms using more skilled labor : A? counter-example to the? Stolper-Samuelson theorem has firms using more skilled labor as it becomes more? expensive, and less unskilled labor as it become less? expensive, even if the firms have time to adjust their labor mix. How can this possibly..
The opposition to expanded trade comes from people who fear : The opposition to expanded trade comes from people who fear that it will
Establish the agenda for the meeting : During your first tour of the facilities, you observed a number of safety hazards in the manufacturing areas and you noticed that the factory and adjacent office areas do not have easy access for anyone with disabilities. Decide whom to invite to the..
Euro and yen exchange rate : Suppose that one Euro can be exchanged for 1.3 U.S. dollars and that one U.S. dollar can be exchanged for 80 Japanese yen. If these currencies can be traded freely with low transaction costs, what exchange rate would you expect between the Euro and J..
Decides to renovate its premises : ABC Software, a small producer, decides to renovate its premises. Instead of hiring an outside contractor and tradespeople, the firm decides to use its employees---secretaries, programmers, sales staff, and others--to do most of the work.

Reviews

Write a Review

Business Economics Questions & Answers

  What fed wishes to increase

Suppose the money supply is currently $500 billion and the Fed wishes to increase it by $100 billion. Given a required reserve ratio of 0.25, what should it do?

  1 consider 2 countries avataria and twilightia which can be

1. consider 2 countries avataria and twilightia which can be described by the solow model. avataria has a capital-labor

  How would you go about putting together such campaign

As an intern for Dunkin’ Donuts, you have been asked to develop a social media campaign for a new glazed muffin. The objective of the campaign is to increase awareness and trial of the new line of muffins. How would you go about putting together such..

  Who farms raw cotton in perfectly competitive market

You are economic consultant for Jack, who farms raw cotton in a perfectly competitive market. One day he gives you the following data at his present level of production: Draw a graph for the raw cotton market and a graph for Jacks farm current situat..

  Identify and briefly explain key macroeconomic issues

Identify and briefly explain key macroeconomic issues that stand out as important to consider in business decisions.

  Financial arm-determine the interest rate

Sam bought a car for $40,000 at “0” percent for 60 months. The financing was done through the financial arm of the car company. If he had paid cash for the car he could have gotten the car for $34,000. Determine the interest rate that he is paying on..

  What was average percent change in the revenue

An auto parts sales person receives a commission of 4.5% on net sales up to $10 000, 6% on the next $5 000 and 8% on any further net sales. If his gross sales for a month were $24 250 and sales returns & allowances were $855, what was his total commi..

  Fiscal policy-defined as decrease in private expenditure

What is Fiscal policy? Crowding out effect is defined as "the decrease in private expenditure (C+I) as a consequence of increase in government spending (G) or the financial needs of a budget deficit". So, crowding out cannot have a "positive" effect ..

  Money plays under the classical macroeconomic model

Explain the role that money plays under the Classical Macroeconomic Model. As a part of your discussion, include the impact the Quantity Theory of Money and Say’s Law have on this model and state in algebraic terms how the money supply relates to pri..

  Whats the price elasticity of demand at the equilibrium

Demand curve is P=-Q+90 and the supply curve is P=0.5Q. Find equilibrium price and quantity. What’s the level of total expenditure in the market? What’s the price elasticity of demand at the equilibrium?

  When drawing a demand curve

When drawing a demand curve,

  Demand curve-consumer surplus is the area

From a demand curve, consumer surplus is the area:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd