The income of landowners in every country, Managerial Economics

Assignment Help:

In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good.
The land supply in every country and the technology of production are exactly the similar. The marginal product of labor in every country depends on employment as follows:

691_33.png


Initially there are 11 workers employed in Home but only 3 workers in Foreign. Find the effect of free movement of labor from the high wage to the low wage country. When such economic migration ceases, what will be the levels of production, real wages and the income of landowners in every country?

 


Related Discussions:- The income of landowners in every country

Theories of the firm, Define Williamson''s Model of Managerial Discretion p...

Define Williamson''s Model of Managerial Discretion practice?

Revenue, definition of total revenue,marginal revenue,average revenue

definition of total revenue,marginal revenue,average revenue

Income elasticity, Income Elasticity The functional relationship among ...

Income Elasticity The functional relationship among the changes in the quantity demanded for a good or service and the change in income of those persons demanding the good or s

Kinds of bargaining arrangements, Kinds of Bargaining arrangements Bas...

Kinds of Bargaining arrangements Basically there are three kinds of bargaining arrangements, namely: Open Shop: In an open shop a union represents its members, but doe

Equilibrium and disequilibrium in balance of payments, Equilibrium and Dise...

Equilibrium and Disequilibrium in the Balance of Payments If on the current account , the value of exports is equal to the value of imports, the balance of payments is said t

Individual firm and market supply curves, Individual firm and market supply...

Individual firm and market supply curves The quantities and prices in the supply schedule can be plotted on a graph. Such a graph is called the firm supply curve. A fir

Cross-elasticity of demand, Cross-elasticity is the measure of responsivene...

Cross-elasticity is the measure of responsiveness of demand for a commodity to the changes in price of its substitutes and complementary goods. For example, cross-elasticity of dem

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