A firms labor demand and labor supply equations are shown below. Labor demand equation: Ld = 40- 2(w) %3D Labor supply equation: Ls = 20 + 3(w), where w is the wage per hour worked. Instructions: Round your answers to the nearest whole number. a. The equilibrium wage is $_ -_ and the equilibrium quantity of labor employed is___--- people.

Q: The opportunity costs could be computed as: Aircraft Corn =1/500=0.002 air Beta =500/1=500 corn craf...

A:  1. Beta is specialized in Corn production because its opportunity cost is lower than Gamma in the c...

Q: Demarcus is planning to purchase a piece of property that he anticipates will cost $455,000 in 6 yea...

A: Given, Future Value= $455000            Rate of interest= 7%            Time= 6 years

Q: inch thick insulation 50,000 20,000 inch thick insulation 65,000 25,000 inch thicl- insulation 07.00...

A: Return on investment is a basic proportion that separates the net benefit from a speculation by its ...

Q: In some markets plumbers have a choice of joining unions or working as nonunion plumbers. The total ...

A: WNU=30-0.04LNU∴0.04LNU=30-WNU∴LNU=750-25WNUWU=30-0.1LU∴0.1LU=30-WULU=300-10WU

Q: Last year Rattner Robotics had $5 million in operating income (EBIT). Its depreciation expense was $...

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: Explain the concept of the rules of origin in regional and international trade

A: Rules of origin are the rules expected to decide the public source of an item. Their significance is...

Q: The PH debt as of today amounts 12 trillions. This balloons with an interest rate of 0.16% yearly. S...

A: Let us firstly calculate debt on every working individual . 12 trillion = 12 million millions   ( 1 ...

Q: 1. GDE for 2015. 2. GDE for 2016. 3. GDP for 2020. 4. GDE growth for 2016 5. GDP growth for 2020 Tab...

A:

Q: 1. Suppose two nations, Beta and Gamma, each make aircraft and corn. The main resource in each natio...

A: Given: Goods: Aircraft Corn Note: Due to multiple subparts being posted, the first three subparts ha...

Q: Consider the following open economy SI model set up Y = 18000 C = 300 + 0.8(Y − 2500) I = 3500 − 400...

A: (a) C = 300 + 0.8(Y-2500) Put Y = 18000 => C = 300 + 0.8(18000 - 2500) => C = 300 + 12400 =&gt...

Q: i = 8% 0 – 1-2- 3- 4-5-6 $5500 $7100 F $9500

A: Given information: Interest rate = 8% Required to find =  F

Q: Question 3 A decision maker has a utility function U = VĪ. This decision maker is: O risk-loving. O ...

A: U = √I is a concave utility function. We know that for concave utility function the individual is ri...

Q: 2 plates of pasta 9.) Suppose that Bob still has 10 hours and can produce 10 hamburgers in 1 hour in...

A: Given: Number of hours=10 Bob: 10 hamburgers or 2 plates of pasta Jimmy: 4 hamburgers or 1 plate of ...

Q: Which of the following statements are correct? Select one or more: O a. Government spending on goods...

A: GDP The Gross Domestic Product (GDP) basically refers to the sum of all the value added in a given e...

Q: Figure 4-13 1Price 20 Price 20 18 Producer A 18 Producer B S1 16 16+ 14- 14 12 12 10 10 $2 8- 6- 4. ...

A: Here, given two graphs shows the supply curves of producer A and producer B at different price level...

Q: f the Real GDP of county A grew by 4% last year, and the po tandard of living in country A: ) Improv...

A: Real GDP measures the changes in the production of goods and services based on the base year prices....

Q: The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, ...

A: Perfectly competitive market: - it is a market condition where there are many buyers and many seller...

Q: “Short-Run Production Theory is the mirror opposite of Short-Run Cost Theory,” Is this statement tru...

A: Answer -

Q: Using the midpoint formula, be able to determine the elasticity along a demand curve. Price Quantity...

A: Price elasticity of demand(Ed): Ed= Percenatge change in quantity demandedPercenatge change in price

Q: Answer the folowing questions in relation rade a. Determine the opportunity costs for cach nation b....

A: Given  The production possibility curve of both nations is a straight line which means that the oppo...

Q: Consider the following IS-LM model set up C = 300 + 0.8(Y − 2500) I = 3500 − 400(r) G = 3000 T = 250...

A: IS LM model shows the shows the both goods and money market in equilibrium simultaneously. Each and ...

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: 2. Which of the following is not characteristic of a cartel situation? (a) While disagreement over p...

A: When cartels are formed then there are few sellers and a large number of buyers, in general cartels ...

Q: 11.)Which of the following demand curves DOES NOT satisfy the law of demand? а.) PD 3D 16 + Qр b.) P...

A: Since you have asked a multiple question, we will solve first question for you. In case you want any...

Q: Price £/unit E B. 'D3 D1 D2 Quantity Figure 4 Supply and demand curves for a normal good Figure 4 sh...

A: Macroeconomics and microeconomics are the two important branches of economics and both are important...

Q: Problem 08-16 You are the manager of College Computers, a manufacturer of customized computers that ...

A: Answer is given below

Q: Moving from static efficiency state with an unlimited resource supply to a dynamic efficiency state ...

A: Static Efficiency State is defined as a state where the efficiency depends on the most efficient com...

Q: Explain the reason why Albert Einstein said, "The hardest thing to understand in the world is the in...

A: During a deener, Albert Einstein said, "The hardest thing to understand in the world is the income t...

Q: A firm in a competitive marketplace employs 10 workers at a wage rate of $20 per hour, and 10 units ...

A: Cost Minimization Producers utilize cost minimization as a fundamental guideline to identify what co...

Q: suppose that the first $5000 income earned is not taxed at all, the next $10000 earned is taxed at t...

A: Marginal tax is calculated by multiplying the tax rate with the income. In the given case, Tax on in...

Q: What is the biggest, most important political issue in philippines?

A: The biggest, most important political issue in philippines is corruption.

Q: In which of the following situations could the competitive market not be Pareto efficient? Select Tr...

A: Answer - "Thank you for submitting the question.But, we are authorized to solve only 3 sub parts.For...

Q: Describe in detail about Equilibrium, budget line, new equilibrium as well as how consumers are affe...

A: Consumers, producers, households, and other economic variables are the focus of microeconomics. It c...

Q: You are the economic advisor of the ruler of Pongo.  Suppose the people in the country of Pongo love...

A: Answer -

Q: If the price elasticity for bananas at the farmers' market is 1.5, is demand elastic, inelastic, or ...

A: Let's first understand what's actually the concept of elasticity of demand.  The elasticity of deman...

Q: Question 1 A student club wants to raise just enough income to cover its costs. Its income comes par...

A: Economists use the term "demand" to define how much of a product or service people are willing and a...

Q: The discount rate will never be equal to interest rate. True or False?

A: Discount rate is defined as the rate of interest which is charged to commercial banks and other form...

Q: Chambers Company has just gathered estimates forconducting a break-even analysis for a new product.V...

A: Break-Even Point: It is the point of sales at which entity neither earns a profit nor suffers a loss...

Q: Accrual income versus cash flow for a period The Motor Corporation sold vehicles for $500,000 to one...

A: Accrued income is cash that is been earned however has nevertheless to be received. Mutual funds or ...

Q: The table shows the quantities of the goods Suzie bought and the prices she paid during two consecut...

A: Given: Goods: coffee, books, gasoline, concert Note: Due to multiple subparts being posted, the firs...

Q: Why socio-economic factors have a high impact on businesses, whether big or small

A: A business organization is affected by a number of factors in its internal and external environment.

Q: Exports of goods and services 1,872 Imports of goods and services 2,375 Net unilateral transfers -99...

A: The Balance of Payment(BOP) is the statement that shows the international transactions of any countr...

Q: Ronald makes year-end deposit of 500, the first year increasing the year's deposits by 10% until the...

A: For Ronald, Initial Balance =0 Interest Rate = 12% comparted annually =0. 12 = i Number of years = 1...

Q: The tables below show a nation's labor demand and labor supply schedules and its production function...

A: Equilibrium is a stable situation in an economy where the forces of demand and supply interact. The ...

Q: 1. Suppose two nations, Beta and Gamma, each make aircraft and corn. The main resource in each natio...

A: Answer: Note: there are no questions asked. So I am re-checking the answer that has been provided. T...

Q: why do technological improvements only increase population and not the long-run standard of living?

A: In an economy, technological improvement refers to the situation when their is an enhancement in the...

Q: Which of the following statements are correct? (This is an "all-or-nothing" question: if you do not ...

A: GDP is defined as the total value of all final products and services produced in a certain period of...

Q: Under a gold standard, countries should Group of answer choices keep the supply of their domestic ...

A: Gold Standard features:- (i) The monetary unit is established in accordance with the specific gold a...

Q: Refer to the information provided in Figure below to answer the question that follow. AS 110 AD 600 ...

A: Oil embargo depicts a situation where oil supply is decreasing. In economy most of the production is...

Q: You are given the following information about an economy: $ Millions  GDP at Market Prices -1,,669....

A: The gross national product (GNP) of a country is a valuable indicator of its economic activity. Gros...