Draw an IS-LM model in general equilibrium. Show the effect of anincrease in marginal product of labor (positive productivity shock.) Showboth short run and long run equilibrium and effects..
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Draw an IS-LM model in general equilibrium. Show the effect of an
increase in marginal product of labor (positive productivity shock.) Show
both short run and long run equilibrium and effects..
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- Does the production function 10 q= 1000L - K exhibit increasing, decreasing, or constant returns to scale? This production function exhibits V returns to scale. 20 tv MacBook Air DII DD 80 F10 F4 FS F6 F2 $ &t 3 4 6 7 8 9 { E Y P F G J K L > с V N M command option - - .. .- - BCoosider the production function characterizing garri plant as: Q= 20L + 60k - L^2 - K^2 If total outlay for both capital, K =N50, and a Labour, L= N20, is N4,600. Find: a. The optimal quantity of K* and L* to be employed. b. Calculate the maximum possible output of garri that the plant can produce.Fill in the missing parts in the following tables to illustrate the behavior of production and costs in the short-run; then determine the optimal level of production according to the number of inputs you are intending to use. Output Units Land Square Meters Capital Egyptian Pounds Labor Units 0 20 40000 0 1000 20 40000 5 1600 20 40000 8 2100 20 40000 11 2500 20 40000 14 2600 20 40000 17 Output FC VC TC MCL MPL AVC AFC ATC 0 1000 1600 2100 2500 2600 -Hint Consider land and capital as fixed factors, while labor units as variable factors. The cost of land is L.E20 per square meter. The interest rate on capital is 10%. The average wages per unit of labor is L.E1500.
- In the production process, both the average product and marginal product of the variable input rise first, then fall, and then rise to infinity OFalse O True 27 WIn the Malthusian model, suppose that the quantity of land increases. Determine what effects this has in the long-run steady state and explain your results. In the long-run steady state, an increase in quantity of land will M the population growth function, g(c), and will V the per-worker production function, zf(l). This will cause the consumption per worker in the steady state, c, to V and the land per worker in the steady state, I, to V The current population, N, will V the future population, N, will 7 and the population growth, willSuppose a firm has two plants, A and B, each producing the same product but using different production processes. After analyzing production reports a UNC Charlotte intern realizes that the marginal product of labor in plant A is greater than the marginal product of labor in plant B. What should he recommend as a short-run remedy? Move labor from plant B to plant A. O It cannot be determined from the information given. O Add more capital to plant B. O Move labor from plant A to plant B.
- 2-lf you have the following production function Q=f( L,K), answer the following : 1. is this function tong or short run? 2. Draw TP! , MPL, APL. 3. Show the stages of the production. 4. Expiain the reiationship between iviPi & APL. 5. When MPL=0, what does that mean ?OFair,%20Sharon%20E.%200ster%20-%20Principles%20of%20Econo.. Page view AN Read aloud I Draw E Highlight Erase 2.6 The following table represents data for Sally's Salon. Draw a graph showing the total product, marginal prod- uct of labor, and average product of labor. Identify where increasing returns, diminishing returns, and negative returns set in on the total product curve. Labor Units Total Product (Haircuts Per Day) Marginal Product of Labor Average Product (Employees) of Labor 7. 7.00 17 10 8.50 3 31 14 10.33 4 44 13 11.00 55 11 11.00 64 9. 10.67 69 9.86 69 8.63 9. 65 -D4 7.22 10 59 5.90 2.7 Assume that we have a production process that exhibits increasing and then decreasing marginal productivity. That is, as we increase output, the marginal product of labor starts at some level above zero, rises to a maximum, and then eventually falls to zero. Which of the following statements is truc? Briefly explain 6:07 PM Desktop d) ENG 4/23/2021Suppose a firm has two plants, A and B, each producing the same product but using different production processes. After analyzing production reports a UNC Charlotte intern realizes that the marginal product of labor in plant B is greater than the marginal product of labor in plant A. What should he recommend as a short-run remedy? a.Move labor from plant A to plant B. b.Move labor from plant B to plant A. c.Add more capital to plant B. d.It cannot be determined from the information given.
- Let the following table shows the short run production function where labor is variable and other resources are fixed. L 0 1 2 3 4 5 6 7 8 TPL MPL 4 6 8 6 4 2 0 -2 -4 APL Fill the table Identify the three stages of productionIf olready done please skip...What is the difference between production in the short run and production inthe long run? Explain the shape of the long-run cost curve in relation to shortrun cost curves?