Uses two inputs-skilled workers and computers

Assignment Help Business Economics
Reference no: EM13886770

Consider a firm that uses two inputs: skilled workers and computers. Explain what it means if skilled workers and computers are complements in production. Specifically, if the price of computers falls, and skilled workers and computers are complements, will the firm want to hire more or fewer skilled workers?.

Reference no: EM13886770

Questions Cloud

Calculate average velocity of the water : Calculate average velocity of the water leaving the disks. Also, calculate the average velocity of the water between the disks at a position where the radius of the disks is 10 cm.
Calculate angular momentum of particle relative to point : A small 60 g block slides down a frictionless surface through a height cm and then sticks to the lower end of a vertical rod of mass 150 g and length 50 cm. The rod pivots about a point near its upper end through an angle θ before momentarily st..
The demand for cigarettes is price inelastic : The demand for cigarettes is price inelastic, but not perfectly inelastic. The supply of cigarettes is elastic, but not perfectly elastic. If there were no price controls or other complicating regulations, what would a model of supply and demand ther..
Height of demand curve when it intersects the price axis : On a graph of supply and demand, which of the following is represented by the height of demand curve when it intersects the price axis?
Uses two inputs-skilled workers and computers : Consider a firm that uses two inputs: skilled workers and computers. Explain what it means if skilled workers and computers are complements in production. Specifically, if the price of computers falls, and skilled workers and computers are complement..
Assess this claim-is the reasoning solid or do you disagree : The human resource manager of the XYZ Company makes the following claim: “Our workers make an average of $500 per week. We produce $6000 worth of output each week using only 10 workers. That averages out to $600 per worker per week. We should therefo..
Presentation in your international business class : You have been asked to make a presentation in your International Business class about how globalization is impacting the auditing profession.
Firms isocost line assuming a total production cost : Consider a firm that uses both labor and capital in production. The price of capital is $20 per unit and the wage rate is $10 per hour. Draw the firm’s isocost line assuming a total production cost of $100. How steep is this line (that is, what is it..
Determine the velocities in both sections of the duct : Air ?ows in a 20-cm-diameter duct at 120-C and 120 kPa with a mass ?ux of 5 kg=s. The circular duct converts to a 20-cm square duct in which the temperature and pressure are 140-C and 140 kPa, respectively. Determine the velocities in both section..

Reviews

Write a Review

Business Economics Questions & Answers

  How much profit does each firm make

How much profit does each firm make? Suppose Firm 2 produced 10 units of output. How much output should Firm 1 produce in order to maximize profit?

  The deadweight loss from a tax

The deadweight loss from a tax of $x per unit will be smallest in a market

  Estimate the relative importance of economies of scale

Estimate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world's most expensive wine comes from France.

  Home-building company

Suppose you are the manager of a home-building company and the government is considering eliminating the deduct-ability of mortgage payments interest.

  Move business into another country-information exists

If one has 3 choices to move business into another country and the following information exists, should you do so in if so which country would you choose?

  Calculate the average variable cost-average total cost

The accompanying table shows a boat manufacturer’s total cost of producing boats. Quantity of Boats Total Cost 0 $ 450,000 1 $ 490,000 2 $ 510,000 3 $ 520,000 4 $ 540,000 5 $ 570,000 6 $ 610,000 7 $ 670,000 8 $ 750,000 9 $ 870,000 1. What is this man..

  What should you bid if you want to maximize expected profit

You are a turnaround artist, specializing in identifying underperforming companies, buying them, improving their performance and stock price, and then selling them. You have found such a prospect, Sicco. What should you bid if you want to maximize yo..

  Health depreciation rate decreases

Everything else equal, if health depreciation rate decreases, the EQUILIBRIUM Health level

  Then do a SWOT analysis of Cirque Du Soleil

Next write about the situation at hand and what is involved. Then do a SWOT analysis of Cirque Du Soleil. Then give your suggestions to improve Cirque Du Soleil's business in the global arena. Why do they export to the international locations they se..

  The supply of ocean water is essentially unlimited

Ocean water contains .9 ounces of gold per ton. Method A costs $550 per ton of water processed and will recover 90% of the metal. Method B costs $400 per ton of water processed and will recover 60% of the metal. The supply of ocean water is essential..

  Recently completed the construction of a bridge across

The city of Morse recently completed the construction of a bridge across the Ohio River at a total cost of $133,453.95. The length of the bridge is 276,389 feet. The city of Edison three miles up river wants to build there own bridge which have to be..

  Rolex watch manufacturer had in inventory of watches worth

At the end of 2012 the prestigious Rolex watch manufacturer had in inventory of watches worth $725 dollars. In 2013, Rolex produced $333 worth of watches and sold $260. What was the change in inventories in 2013? (Hint: careful with the signs, rememb..

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