Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You run a small business that uses both capital and labor to produce your output. The machinery (capital) has a marginal cost equal to $25 per hour and a marginal product equal to 50 units per hour. The marginal cost and marginal product of capital are assumed fixed at these levels regardless of the level of output. Assume wages are your only cost for labor and your firm’s wage rate equals $12 per hour. You are given the following information on the output and productivity of labor. Assume the firm is interested in maximizing profits. Units of Labor Total Output per Hour 1 35 2 65 3 89 4 109 5 124 a. How many units of labor will the firm use? Explain your answer. b. Currently under consideration in many cities and states is a law that would raise the minimum wage to $15 per hour. Assuming that is the only cost for labor, how many units of labor will the firm use if the wage rate is increased to $15? Explain your answer.
The simple case of a fixed per-unit tax is indicative of more complicated ones. Consider a proportional sales tax and a progressive sales tax. How do the tax revenues, and quantities produced compare in these various cases? Explain how value can be c..
What tool of monetary policy will the Federal Reserve use to increase the federal funds rate from 1% to 1.25%?
What are some potential problems that could arise when dealing with claims filing process in Healthcare Reimbursement?
what is the consumption function b. what is the equation of the AE curve c. calculate equilibrium expenditure
Which of the following is one of the justifications given for the law of supply?
In 1999, the Canadian economy was at full employment. Real GDP was $886 billion, the nominal interest rate was around 6 percent per year, the inflation rate was 2 percent a year, the price level was 110, and the velocity of circulation was constant a..
The increase in demand for iPad tablet computers can be explained by: An increase in the real income of a consumer is one result from an increase in the price of a product that the consumer is buying.
The elasticity of demand for a firm’s product is -3 and its advertising elasticity of demand is 0.15. Determine the firm’s optimal advertising-to-sales ratio. If the firm’s revenues are $60,000, what is its profit-maximizing level of advertising?
Empirical studies suggest that when a large number of firms are present in a market, prices are usually ________ and profits are usually ________ than when there are only a few firms in a market.
Compute point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points.
Suppose you purchased a 25-year, $2.5 million deep discount bond when it was intially offered. Four years later you sell the bond and market interest rates have risen from 6.25% to 8.54%. Calculate the initial price of the bond. Calculate the current..
Which of the following factors would be a factor that would tend to increase the span of management?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd