1 Answers
Call
Talk Doctor Online in Bissoy App
What is finanical market and capital market and money market ?
What is Operational efficiency ?
What is allocational efficiency ?
A financial market is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that...
1 Answers 1 views
Suppose that price of labor is Rs.300 and the price of capital is Rs.400.what is the equation of the isocost line corresponding to a total cost of Rs.1000?
If the price of labor is Rs.300 and the price of capital is Rs.400, then the isocost line corresponding to a total cost of Rs.1000 will connect points (0 units...
1 Answers 1 views
plz tell me the production theory which showed that energy and capital are perfectly substitutable or any theory name which discuss labor and energy but ignoring the capital in production model
Constant elasticity of substitution (CES), in economics, is a property of some production functions and utility functions. As its name suggests, the CES production function exhibits constant elasticity of substitution...
1 Answers 1 views
Given that the total cost of producing a tin of milk is TC=wL+rK, where w,l,r and k are rent,labor,rent and capital, Find the maximum amounts of capital and labor required to produce a tin of milk?
The amount of labour and capital used in production is optimal and maximizes output when MPL/w = MPK/r, where MPL and MPK are marginal product of labour and capital.
1 Answers 1 views
The production for a productive is given by q=100KL. If the Price of capital is 120€ per day and the Price of labor 30€ per day, what is the minimum cost of producing 1000 units of output
The cost-minimizing combination of capital and labor is,MRTS = MPL/MPK = w/rThe marginal product of labor is dq/dL = 100K. The marginal product of capital is dq/dK =100L. Therefore, the...
1 Answers 1 views
At L=4, k=4, the marginal product of labor is 2 and the marginal product of capital is 3. what is the marginal rate of substitution?
At L=4, K=4 MPl = 2, MPk = 3. Marginal Rate of Technical Substitution (MRTS) is the amount by which the quantity of one input has to be reduced when...
1 Answers 1 views
5. If a country’s labor is paid a total of $6 billion, its capital is paid a total of $2 billion, and
profits are zero, what is the level of output? ( Hint: See equation 2.)
Level of Out put = Labor Payments + Capital Payments + Profits = 6+2 +0 = 8 billion
1 Answers 1 views
Give three explanations why the real wage may remain above the level that equilibrates labor supply and labor
demand?
Solution:The real wage may remain above the level that equilibrates labor supply and labor demand because of minimum wage laws, the monopoly power of unions, and efficiency wages. 1.). Minimum wage...
1 Answers 1 views
Give three explanations why the real wage may remain above the level that equilibrates labor supply and labor demand.
Minimum wage laws- these laws prevent wages from falling to equilibrium levels. Although most workers are paid a wage above the minimum level,for some workers especially the unskilled and...
1 Answers 1 views
If a county's labor is paid a total of 6 billion, it's capital is paid a total of 2 billion, and profits are zero, what is the level of output?
If a county's labor is paid a total of 6 billion, its capital is paid a total of 2 billion, and profits are zero, then its total cost is TC...
1 Answers 1 views