2 econ problems, economics, Microeconomics

Assignment Help:
I have the answers to these two questions, but I need to know HOW to get these answers. Thanks.

Question 1
Suppose there are two goods beverage and pizza and two inputs land, T, and labor, L. Given atb=5014, atp=971, alb=2532, alp=1964,T=5807, and L=5018. What is the amount of pizza at the point of intersection between land and labor constraints. (Answer should have two decimal places).
Answer:(1.42)

Question 2 0
Suppose there are two goods, pizza and beverage. Suppose alp=5216, atp=959, alb=2514, atb=1924, Pp=10700, and Pb=11400. What is the equilibrium wage?
Answer:(1.27)

Related Discussions:- 2 econ problems, economics

Price responsiveness of supply, On Valentine's Day, the price of roses incr...

On Valentine's Day, the price of roses increases by more than the price of greeting cards.  Why? (Hint: Consider what makes roses and cards different and how that difference might

Properly mixed strategy, A " properly mixed strategy " means a mixed strate...

A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo

Floating exchange rates, Floating exchange rates There are two basic s...

Floating exchange rates There are two basic systems that can be used to determine the exchange rate between one country's currency and another's: a floating exchange rates (al

DEFNITION, WHAT ARE THE COMPONENT OF ECONOMICS

WHAT ARE THE COMPONENT OF ECONOMICS

Laspeyres index, Laspeyres index The Laspeyres index tells us that: ...

Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w

What is laffer curve, What is Laffer curve The Laffer curve is named af...

What is Laffer curve The Laffer curve is named after Professor Art Laffer who suggested that as taxes enhanced from fairly low levels, tax revenue received by the government wo

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