Consider a country that is in autarky x is the labour, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics

Basic Economics

Business Economics

International Economics

Managerial Economics

Public Economics

Home >> Microeconomics

Consider a country that is in autarky. X is the labour intensive good and Y is the capital intensive good. Draw a hypothetical production possibilities frontier (PPF). Suppose the country experiences immigration. Show the effect of more labour on the economy using PPF as well as production functions in K-L space.

That is, show what would happen to prices, wage-rental ratio, production and capital intensity of the goods.

Tip: Labour is more important to labour intensive goods than capital intensive goods.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91263745
Price:- $20

Guranteed 24 Hours Delivery, In Price:- $20

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question in the solow growth model with labor-augmenting

Question: In the solow growth model, with labor-augmenting technological progress and population growth, if the production function is y= k^1/2, s= .15, depreciation= .02, n=.02 and g= .01: a. what is the steady-state le ...

Question in country b the population is 900 million and 100

Question: In country B, the population is 900 million and 100 million people are living below the poverty line. What is the poverty rate? The response must be typed, single spaced, must be in times new roman font (size 1 ...

Question suppose that the table presented below represents

Question: Suppose that the table presented below represents production and cost data from a single firm. The table displays the level of labor (L) and capital (K) chosen by the firm in each year from 2009-2017, along wit ...

Question book principles of microeconomics ryan amacher amp

Question: Book Principles of Microeconomics: Ryan Amacher & Jennifer Pate Market Structures In an eight- to 10-page paper, describe each market structure discussed in the course (perfect competition, monopolistic competi ...

Question new york state is one of the largest states in the

Question: New York state is one of the largest states in the nation, but most of it comprises farmland. New York state is the 3rd largest dairy producer in the nation and competes for the top spots in Apple production an ...

Question use an isoquantisocost diagram and words to show

Question: Use an isoquant/isocost diagram and words to show how firms will respond to a decrease in the wage rate. (Assume substitution between labor and capital is possible.) Be sure to identify the short run scale effe ...

Question what happens to the employment decision if an

Question: What happens to the employment decision if an employer is a price-taker in the market for its output but faces an upward-sloping supply curve of labor, that is, it can only hire additional workers if it raises ...

Question using the small open economy model illustrate and

Question: Using the small open economy model, illustrate and describe the likely effects of an economic crisis on a country's trade performance and balance of payments? The response must be typed, single spaced, must be ...

Question 1 who is making bad decisions2 does the decision

Question: 1. Who is making bad decisions? 2. Does the decision maker have enough information to make a good decision? 3. The incentive to do so? The three step process is used to evaluate and analyze the decision. The fi ...

Question in the 1930s the movie industry operated under a

Question: In the 1930s the movie industry operated under a studio system, in which a performer signed with a single studio for some period and promised to appear in a certain number of movies. What might have led to the ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As