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Suppose a firm is hiring 20 workers at a wage rate of $60. The average product of labor is 30, the last worker added 12 units of output, and total fixed cost is $3,600. What is marginal cost?
Business Economics, Economics
Question: Parents decided to set aside money for their child's higher education. The objective is to provide $35,000 in today's dollars after 17 years. Their financial analyst forecasted that the average annual inflation ...
Suppose the production function for a firm is given by: q=4L 0.5 K 0.25 . In the short run, the firm has 16 units of capital. Find the Marginal Product of Labor (MP L ). Fill in the appropriate numbers in the function ...
Billy Ray works for Big City Planning where he is covered by the employer's qualified profit sharing retirement plan. Billy earns $70,000 a year and is single. How much can Billy contribute to a traditional IRA? What is ...
Coach Steroid likes his players to be big, fast, and obedient. If player A is better than player B in two of these three characteristics, Steroid will prefer A to B . Three players try out for quarterback. Wilbur ...
I would like know what issues are in US about controlling pharmaceutical costs related to healthcare delivery, economics and policy. Who are the stakeholders and what are their role and the cause and effect?
You've entered a contract to purchase a new house, and the closing is scheduled for next week. It's typical for some last-minute bargaining to occur at the closing table, where sellers often try to tack on extra fees. Yo ...
Global warming is related to the concentration of greenhouse gases in the atmosphere. Once in the atmosphere, gases remain there for long periods of time (centuries). Greenhouse gases include carbon dioxide and methane. ...
Consider the following production function that is already written in per worker terms: y = Akαh 1-α where h represents human capital per worker. Suppose we are given the following information: capital per worker in an e ...
Suppose demand and supply are given by: Q d x = 14 - 0.5 P x and Q s x = .25 P x - 1 a) Determine the equilibrium price and quantitiy. b) Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium ...
What statistic was calculated to determine differences between the intervention and control groups for the lumbar and femur neck BMDs? Were the groups significantly different for BMDs?
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