User Account

All Pages

What is the firm''s total wage bill

Assignment Help Microeconomics
Reference no: EM13877303

A firm is competitive in both product and resource market. The firm's short run production function is given by Q = 0.5L1/2 where L is the labor input. Assume the wage rate is $10 and the firm's fixed cost is 100. If the price of the good in the market is $1,200 per unit

(a) What is the firm's profit maximizing level of output and employment?

(b) What is the firm's total wage bill?

(c) What is its profit?

Reference no: EM13877303

Questions Cloud

Reply to the given classmates posts : Directions: In 200-300 words you must reply to both of the classmates post below. Be sure to label each reply so that I know which one you are addressing. Please note that "I like what you said," "That's a good point," and "I disagree with your po..
Explain why moving prices towards costs : Explain why moving prices towards costs is not a Pareto improvement, but is a potential Pareto improvement.
Stress-strain behavior for a steel alloy : Figure shows the tensile engineering stress-strain behavior for a steel alloy. (a) What is the modulus of elasticity?
What is the firm''s total wage bill : A firm is competitive in both product and resource market. The firm's short run production function is given by Q = 0.5L1/2 where L is the labor input. Assume the wage rate is $10 and the firm's fixed cost is 100. If the price of the good in the m..
What is the firm''s total wage bill : A firm is competitive in both product and resource market. The firm's short run production function is given by Q = 0.5L1/2 where L is the labor input. Assume the wage rate is $10 and the firm's fixed cost is 100. If the price of the good in the m..
The limit on the amount of wage income : If the government raised the limit on the amount of wage income that is subject to the F.I.C.A. tax, this would: A. Move the Lorenz curve further from the line of income equality  B. Have no effect on the Lorenz curve
Find the average cost pricing : What is the level of output and price if a natural monopolist with the cost function TC = 0.3Q3- 8Q2+ 120Q and market demand function P = 100 - Q follows the average cost pricing? (From 2 possible solutions choose the larger one.) Compare this so..
Strategies for successful health care marketing : Describe three different strategies for successful health care marketing and public relations.  Which is your personal favorite?  Why?
Perpetual preferred stock : 1) Johnson Corporation JUST PAID a dividend of $4.63.  The expected growth rate on dividends is 8 percent.  What is the current price of this stock if the required rate of return is 10 percent?

Reviews

Write a Review

Microeconomics Questions & Answers

  What happens to the production possibilities frontier

Where would you plot unemployment on a production possibilities frontier? Where would you plot full employment on a production possibilities frontier? Now presume that is a time of crisis everyone pitches in and works much harder than usual. What hap..

  Why is it difficult to contemplate an equilibrium in a case

Now suppose that all firms are revenue maximizers, taking prices as given, subject to a zero-profit constraint. Why is it difficult to contemplate an equilibrium in a case where there is free entry?

  Define and explain value engineering write two likely

define and discuss value engineering. what are two likely benefits of early supplier and early supply management

  Monopolization of businesses

"Monopolies are very efficient." Do you agree or disagree? Provide justification for our response.

  An internet search engine (google, bing, etc.) to locate an

Use the key word ECONOMIC NEWS in an Internet search engine (Google, Bing, etc.) to locate an appropriate news story or article that illustrates the ideas presented in the reading.

  How this investment give rise to subsequent opportunistic

some products require special custom-made trucks to transport by road. if a trucking company contracts with a

  Policy and principles of microeconomic

Suppose that the economy is already in recession, and both President and Congress have declared to do something to restore the economy.

  Elasticity of demand

Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.

  Construct a table showing marginal sales per day

Washington Oregon Idaho Days Gross Sales Days Gross Sales Days Gross Sales 0 $10,000 0 $0 0 $6,250 1 25,000 1 8,750 1 12,500 2 37,500 2 16,250 2 17,500 3 47,500 3 22,500 3 21,250 4 55,000 4 26,250 4 23,750 5 60,000 5 28,750 5 25,000 6 62,500 6 30,000..

  Show the effect on professor smith budget constraint

Assuming that Professor Smith spends the $100 each month at either Alice’s or the club, sketch his budget constraint. Show actual numbers on the axes.

  Each country can produce beef and cotton suppose that

below is a hypothetical production possibilities table for argentina and india.nbsp each country can produce beef and

  Compute the irr for each alternative

Compute the IRR for each alternative

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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