A hair salon with one, two, three, or four employees can serve 20, 35, 47, or 56 customers, respectively. The marginal product of the third worker is:
Q: Suppose that Helena's utility over goods x and y is given by U (x, y) = 2/# + /ỹ X. Solve Helena's u...
A: Answer: Given, Utility function: Ux,y=2x+y Let the price of goo x be Px and the price of good y be P...
Q: Engineering Economics 2-) We have a five-year contract, compounded quarterly, at a rate of 16% per y...
A: 5 Year Contract per quarter Amount = $12 million interest rate = 16% per year
Q: You pay a cover charge of $50 to get into a popular local nightclub. As the DJ is playing and you ar...
A: Opportunity cost is the cost that is incurred by giving up the next best alternative while making a ...
Q: Need fully correct solution for this asap. I'll rate positive for Correct solution.
A: The Federal Reserve is the central bank of the United States. The Federal Reserve regulates the coun...
Q: Define the three principles of sound tax system (Fiscal Adequacy, Equality or Theoretical Justice, A...
A: The tax system is defined as a principle-based system of legally regulated public relations that ari...
Q: The WorldLight Company produces two light fixtures (products 1 and 2) that require both metal frame ...
A: When a linear function is subjected to many constraints, linear programming, a mathematical modeling...
Q: Goods imports 635 Goods exports 419 Services imports 144 Services exports...
A:
Q: b) i. Explain two reasons why some analysts argue that FDI will promote development & ii. two reason...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: na given market the equilibrium quantity increased, yet the price remained the same. Which of the fo...
A: Eqm(equilibrium) is the market is determined by the intersection of dd(demand) and ss(supply) curves...
Q: Enumerate some comparisons and contrasts of the concept of demand and concept of supply.
A: Demand is the customer's desire for a specific product at a given price, which he or she is willing ...
Q: Agricultural goods market depicts characteristics close to
A: To find : What is depicted by agricultural goof market
Q: High AFC High ATC High MC High ATC MC ATC Minimum of ATC Diminishing marginal product sets in AFC 9M...
A: The total fixed cost (TFC) per unit of production is referred to as average fixed cost (AFC). AFC = ...
Q: An increase in government spending in a simple open economy leads to Fall in both budget and current...
A: Correct option is the last option i.e. "An increase in both the budget and current account deficit."
Q: 26. When as a result of decrease in price of good, the total expenditure made on it decreases we say...
A: "Correct option is A."
Q: Define conversation analysis (CA)
A: Define Conversation analysis Conversation analysis (CA) is a method for studying social interactions...
Q: . For goods, increase in income leads to increase in demand.
A: To find : What leads to increase in demand.
Q: There are many ways to define and measure the benefits and costs that go into the GPI. How do you th...
A: A biocentrist considers the whole influence of actions on living creatures, both human and nonhuman....
Q: For each of the regions, use the midpoint method to identify whether the supply of this good is elas...
A: As per the figure in question, at point Y: price is $135 per unit. Let this be represented as P0=$13...
Q: The below graph shows the demand and cost curves for ABC Electric Co, a natural monopoly in a small ...
A:
Q: Using a method similar to that used to calculate the consumer price index, the percentage change in ...
A: Consumer price index "it measures the average change in price over time in a fixed market basket of ...
Q: (Q4) Explain carefully why a chemical plant polluting the atmosphere might generate a negative produ...
A: The marginal cost of pollution is the additional environmental cost incurred as a result of producin...
Q: 11. Describe what happens to quantity of labor supplied when wages are at the equilibrium level, abo...
A: Labor: - labor is one of the factors of production, any physical and mental work by humans against a...
Q: Last year 1000 galone of amond ma non dairy produt were soldprice of S0 Y yearabad harvestin Caomia ...
A: Given: Quantity of almond milk=1000 gallons Price=$10
Q: PH debt as of today amounts to 12 trillion. This balloons with an interest rate of 0.16% yearly. Sup...
A: We have, The PH debt as of today amounts 12 trillion The Philippines have 110million people, with th...
Q: A situation where everybody plays a dominant strategy must be a Nash Equilibrium True False
A: "Statement given in question is TRUE."
Q: how does the philips curve explain trade-off between unemployment and inflation
A: Philip curve:- This curve was created by A. W. Phillips, which states that inflation and unemploymen...
Q: Identify the effect of increase in tax rates on either demand or supply curve and the equilibruim in...
A: Taxes are the form of government revenue which are collected through the goods and services purchase...
Q: Question 3 • C В Jeans Refer to the graph above. Productive efficiency occurs at what points? Sweate...
A: The production possibility curve (PPC) shows the combination of two goods that a nation can produce ...
Q: For the arithmatic gradient of cash flow given below, if G= $500 , the value at year 23(V23) is: V½=...
A: Given that, G= 500 A1= 800 Time=23 years
Q: What are the determinants of demand? What happens to the demand curve when any of these determinants...
A: the factors that cause a change in the demand and quantity demanded of the goods are called determin...
Q: Suppose that the demand function for Brand X is P = 360- 50Qd. Show whether going from 3 to 4 units ...
A: Demand Equation: P=360-50Qd Price elasticity measures the percentage change in the quantity demanded...
Q: senior managers provide you with advice. The first manager states that your company is losing money ...
A: Cost of production refers to the total cost incurred by a business to produce a specific quantity of...
Q: WORLD VIEW World's Largest Armies Rank Country Active Military 1 China 2,183,000 2 India 1,362,000 3...
A: Opportunity cost = Number of people in the army * Quantity of food produced by an average North Kore...
Q: 12. Discuss how the interdependence of input markets for labor, capital, and land might affect suppl...
A: The above inputs like labor, capital, and land are the factors of production without which productio...
Q: Goods imports 635 Goods exports 419 Services imports 144 Services exports 215 Net unilateral...
A: Answer -
Q: Which of the following statements about labour productivity (Y/L), also known as the average product...
A: Labour Productivity Labour productivity is defined as actual production per labor hour, and the chan...
Q: John is thinking about going to the movies tonight . A ticket costs $ 9 and he will have to cancel h...
A: The opportunity cost of doing any activity is the value of the next best alternative which has been ...
Q: Developing countries like China and India start promoting investment. Use the Mundell-Fleming model ...
A: The great degree of integration or connectivity among financial or capital markets is one of the mos...
Q: Suppose you observe the time series of output y and real money supply M/P reported in the Figure bel...
A: Answer -
Q: $48,000 5 years $57,000 %8 of amount to be deprecia %13 of book value (end of pe: he fourth year tor...
A: Depreciation means a strategy used to apportion the expense of a substantial or actual resource over...
Q: If the demand for a good is inelastic, an increase in the price of the good will cause the total exp...
A: To find : Total expenditure of consumer of the good.
Q: Under which market structure, average revenue of a firm is equal to its marginal revenue
A: To find : Under which structure, average revenue of a firm will be equal to it's marginal revenue
Q: Historically, most FDI has been directed at the nations of the world as firms based in advanced coun...
A: FDI stands for Foreign Direct Investment. FDI is buying a share (or ownership) by foreign firms or ...
Q: Use the data to calculate nominal Canadian GDP using the spending approach for both 2016 and 2017. ...
A: For 2016,Nominal GDP=Consumption+Investment+Government Spending+(Export-Import)Nominal GDP=$12,800+...
Q: . A monopoly is currently producing an output level where P = $30, MR = $20, AVC = $16, AC = $24, a...
A: Monopoly Monopoly refers to a market in which there is only one single seller. Due to high hurdles t...
Q: Suppose you observe the time series of output y and real money supply M/ P reported in the Figure be...
A: Given information
Q: D. All of the following are determinants of demand except
A: To find : What is determinants of demand except.
Q: Assume aggregate consumer spending equals $1,500 when aggregate disposable income is zero, and when ...
A: The aggregate consumption function is given below C=c0+c1YD C = 1500, when Yd = 0 if Yd increase to ...
Q: Which European institution is responsible for proposing EU egislation, implementing it, and monitori...
A: European institutions consist of 7 decision-making bodies.
Q: ast year, 1000 galions of almond milk (a non dairy product) were sold ata price of $10 Yet, this yea...
A: When almond milk “a non dairy product” harvest has been destroyed in California, it resulted in supp...
Step by step
Solved in 2 steps with 4 images
- Number ofWorkersEmployed Output(Units) MarginalProduct(Units) Value ofMarginalProduct ($)(Market Price=1$) Value ofMarginalProduct ($)(Market Price=2$) 0 0 1 8 2 22 3 36 4 56 5 60 6 72 7 82 8 89 Derive Marginal Product and Value of Marginal Product from the following table when market price for the product is 1$ and 2$ .A restaurant with one, two, three, or four employees can serve 35, 50, 64, or 75 customers, respectively. The marginal product of the third worker is:ЕOC 19.07 (and 19.08) A hair salon is considering hiring more workers. The market wage for a hair stylist is $160 per day, and this hair salon charges $30 per haircut. The salon currently employs 4 stylists and know that a fifth stylist would allow them to sell 7 more haircuts per day, a sixth stylist would allow them to sell 6 more haircuts per day, and seventh stylist would allow them to sell 5 more haircuts per day. How many stylists should this salon hire? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 4 b 5 d 7 6.
- Given the information in the table, what is the labor force participation rate? Catagory Less than 16 years old Full-time workers Full-time military Part-time workers A. 74.7% OB. 74.3% OC. 63.1% OD. 69.2% Institutionalized Looking for work Retired Number of people (millions) 40 135 1.2 20 14.8 11.5 41.5The following figure shows the relationship between employment and monthly salary in the periods 1968 to 1984. Copytight o Moraw Educaton. Permsson required for reproduction or dispiay. Employment Monthly Salary ($) 250,000 4,500 230,000 4,000 210,000 190,000 3,500 170,000 150,000 3,000 130,000 2,500 110,000 Wage 90,000 2,000 70,000 Employment 50,000 1,500 1968 1970 1972 1974 1976 1978 1980 1982 1984 Using the labour supply - labour demand model, how can you rationalize the comovement between employment and wage in the period 1968-1976 The labour demand curve shifts to the left There is no way to rationalize the data The labour demand curve shifts to the right The labour supply curve shifts to the right The labour supply curve shifts to the leftThe Levee Spa is a profit-maximing company wanting to hire workers up to the point where the market wage equals the marginal revenue product. How many workers can this imperfectly competitive spa company hire? 6. SL VMP. 4 8. 12 16 Labor (L) Provide your answer below: 00 2. Wage (W)
- Color Tile Corp. is a profit-maximizing firm wanting to hire workers up to the point where the market wage equals the marginal revenue product. How many workers can this imperfectly competitive tile company hire? 8 6. SL D. VMPL 12 18 24 Labor (L) Provide your answer below: Wage (W)Income $560 $320 B 60 40 0 Work T Suppose this worker's union negotiates an increase in the straight-time wage from $8 to $9.33 per hour with no bonus for overtime. This plan would allow earnings of $560 at 60 hours per week. Assuming this worker can freely choose the number of hours worked, he will choose to work more than 60 hours per week. 60 hours per week. more than 60 hours per week if the income effect dominates; less otherwise. fewer than 60 hours per week. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.Announcers present music, news, and sports, and may provide commentary or interview guests about these or other important topics. Some act as masters of ceremonies (emcees) or disc jockeys (DJs) at weddings, parties, or clubs. Many announcers work in radio and television studios. Some announcers are self-employed; others work part time. The median annual wage for announcers was $29,010 in May 2014. A newscaster earns $33,900 and wants to invest 10% of his/her monthly salary to save for retirement in 22 years. If he/she invests this money at 3.3% compounded monthly, how much money will he/she have at retirement?a) How much will be saved each year?$b) What will be the monthly deposit?$c) What will be the amount in the account after 22 years?$
- Find the compensation of employees given :- Domestic Income = $30,000 Operating surplus = $16,000 Mixed Income = $5000Q51 A farmer named Chris Freeland who has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. The farmer's product sells for $5 per unit, and the wage rate is $13 per worker. How many workers should Chris Freeland the farmer hire? Multiple Choice 3 2 4 1 7.John has gross biweekly earnings of $743.61. By claiming 1 more withholding allowance, John would have $19 more in his take home pay. How many withholding allowances does John currently claim?