Suppose that real domestic output in an economy

Assignment Help Business Economics

Reference no: EM131094673

Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50 and the unit price of the input is $9. The level of productivity and the per-unit cost of production are, respectively:

a) 1.50 and $6.00

b) 6 and $1.50

c) 5 and $6.00

d) 5 and $1.50

Reference no: EM131094673

Questions Cloud

Find the firms conditional factor demands : A competitive firm has the production function q =f(L,K) =rad(L)+2rad(K) , for which MPl =1/2rad(L) and MPk = 1/rad(K). Find the firm's conditional factor demands for L and K at the factor prices w = 4 and r = 2. What is the firm's (total) cost curve..

What happened to aggregate demand and aggregate supply model : Discuss and explain the following questions using knowledge about the dynamics of Aggregate Demand and Aggregate Supply Model. What is the cause of the 2007-09 Great recession? What happened to aggregate demand and aggregate supply model during this ..

Leadership supports innovation : "In a healthy innovative company, leadership supports innovation." Do you agree or disagree? Are there variations across industries or fields? Provide examples to illustrate and support your position.

Write the equation for the firm short-run supply curve : A competitive firm has a short-run total cost curve STC (q)= 0.1q^2 +10q +40. Find and plot the SAC and SAVC curves. For this function, the SMC curve is given by SMC (q)= 0.2q +10.Include this curve in your diagram for part b. Write the equation for..

Suppose that real domestic output in an economy : Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50 and the unit price of the input is $9. The level of productivity and the per-unit cost of production are, respectively:

The two nations combined production of wheat will : Look at the figure The Production Possibility Frontiers for Jackson and Tahoe. In autarky, Jackson produces and consumes 30 head of cattle and 80 bushels of wheat, while Tahoe produces and consumes 80 head of cattle and 60 bushels of wheat. With comp..

Using the economics of the firm-multi-billionaire who claims : Republican presidential candidate Donald Trump is a multi-billionaire who claims that, if elected, he would run the country like a business firm. Using the economics of the firm, explain why this may not be so

How will this affect the exchange rate : The government of a small open economy is considering the following policy changes. Evaluate them and show the expected outcomes (sketch graphs to help visualize the changes). The trade minister wishes to restrict imports through quotas in order to p..

How much economic surplus : The most you would be willing to pay for having a freshly washed car before going out on a date is $15. The smallest amount for which you would be willing to wash someone else’s car is $12.50. You are going out this evening and your car is dirty. How..

User Account

All Pages