Firm's short-run elasticity, Managerial Economics

Assignment Help:

A firm's technology needsit to combine 5 person-hours of labor with 3 machine-hours to make 1 unit of output. The firm has 15 machines in place and the wage rate rises from $10 per hour to $20 per hour. What is the firm's short-run elasticity of labor demand?


Related Discussions:- Firm's short-run elasticity

Advantages of planned economy, Advantages of Planned System i)   Uses...

Advantages of Planned System i)   Uses of resources :  Central planning can lead to the full use of all the factors of production, so reducing or ending unemployment. ii

Brief note, principles of time perspectives

principles of time perspectives

Problems in using arc elasticity, The use of arc elasticity in economic ana...

The use of arc elasticity in economic analysis involves a good deal of chariness since it is capable of being misinterpreted. Arc elasticity coefficients vary between the same two

Nature and functions of money , Nature and Functions of Money The concep...

Nature and Functions of Money The concept of money is very difficult to define . it is belongs to the category of things which are not amenable to any single definition. It is p

Using the national output for calculating national income, Using the Nation...

Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach .  This involves adding up

The governed economy, THE GOVERNED ECONOMY The governed economy contai...

THE GOVERNED ECONOMY The governed economy contains central authorities often simply called "the government" - who levy taxes on firms and households and which engages in numer

The effects of globalization on indian industry, Indian industry has progre...

Indian industry has progressed a lot because of globalization. A lot of development has been seen in Indian industry.

Clark''s dynamic theory, According to J.B. Clark's profits arises in a dyna...

According to J.B. Clark's profits arises in a dynamic economy, not in a static one. A static economy is one in which there is absolute freedom of competition population and capital

What do you mean by external economies, Q. What do you mean by External Eco...

Q. What do you mean by External Economies? External economies arise outside the firm as a result of improvement in industrial environment in that the firm operates. They are ex

Define the natural monopoly, Q. Define the Natural Monopoly? Natural M...

Q. Define the Natural Monopoly? Natural Monopoly: Natural monopoly is because of natural factors. For illustration, a particular raw material is concentrated at a specific pl

Write Your Message!

Captcha
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