Assume that the labor market is perfectly competitive. The product market is imperfect. (i.e. as out… Show more Assume that the labor market is perfectly competitive. The product market is imperfect. (i.e. as output increases, price decreases). Column D1 gives the firm’s product demand. (1 point each). Labor Output Price (D1) 0 0 $20 1 15 $19 2 29 $18 3 42 $17 4 54 $16 5 65 $15 6 75 $14 7 80 $13 1.If the wage rate is $150, the firm will achieve maximum profit by hiring _____ workers. (in detail) 2.The extra revenue generated by the fifth worker is ____________.(in detail) 3.If the wage rate rises from $150 to $237, the firm will reduce the quantity of labor employed by _____ unit(s). (in detail) • Show less

s product demand. (1… Show more Assume that the labor market is perfectly competitive. Column D1 gives the firm’s product demand. (1 point each) Labor Output Price (D1) 0 0 $20 1 15 $20 2 29 $20 3 42 $20 4 54 $20 5 65 $20 6 75 $20 7 80 $20 1.If the wage rate is $200, the firm will achieve maximum profit by hiring _____ workers. 2.If the wage rate rises from $200 to $260, the firm will reduce the quantity of labor employed by _____ unit(s). 3.The value of the marginal product of the fifth worker is: • Show less

Federal Reserve and the impact of its independence and how it regulates the U.S. money supply??!!

need help save the image to get a better look

Use the classical theory of distribution to predict the impact on the real wage and the real rental… Show more Use the classical theory of distribution to predict the impact on the real wage and the real rental price of capital of each of the following events. A) A wave of immigration increases the labor force. B) An earthquake destroys some of the capital stock. C) A technological advancement improve the production function • Show less

associated with health care over-consumption mean that citiz… Show more Does the existence of “efficiency loss” associated with health care over-consumption mean that citizens are worse off with the government’s provision of this insurance? • Show less

(i.e. set equal to MC of producing services), show in a s… Show more Assuming that prices are set competitively (i.e. set equal to MC of producing services), show in a supply-demand graph how we could measure the “efficiency loss” (or deadweight loss) associated with health care over-consumption. • Show less

Do you think today’s technology help to heighten or lessen racial separation?

quantity and price of medical services are expected… Show more Use a supply-demand graph to demonstrate how the quantity and price of medical services are expected to be affected if we went from a world without insurance to a world where the government covered 90% of all medical costs. • Show less

You are buying a new car and can pay $15,000 cash today or pay $350 per month for 60 mont… Show more QUESTION 1 You are buying a new car and can pay $15,000 cash today or pay $350 per month for 60 months. If the annual interest rate is 12%, which alternative has the lower PWc? a. both have the same PWc b. cannot be determined from the information given. c. $15,000 today d. $350 per month for 60 months QUESTION 2 You can buy a new sorting machine for $15,000. Annual operation and maintenance will cost $6000 which is $8000 less than current costs. You expect to sell the machine for $2000 at the end of 10 years. If i= 8%: a. PWc = $15,000 b. PWc = $15,000 + 6000(P/A,8%,10) – 2000(P/A,8%,10) c. PWc = $15,000 + 6000(P/A,8%,10) + 2000(P/F,8%,10) d. PWc = $15,000 + 6000(P/A,8%,10) – 2000(P/F,8%,10) QUESTION 3 You can buy a new sorting machine for $15,000. Annual operation and maintenance will cost $6000 which is $8000 less than current costs. You expect to sell the machine for $2000 at the end of 10 years. If i= 8%: a. PWb = 8000 b. PWb = 8000(P/A,8%,10) c. PWb = 14000 d. PWb = 14000(P/A,8%,10) QUESTION 4 You can buy a new sorting machine for $15,000. Annual operation and maintenance will cost $6000 which is $8000 less than current costs. You expect to sell the machine for $2000 at the end of 10 years. Should you buy this machine if i = 8%? a. Yes, because NPW > 0 b. Yes, because NPW < 0 c. No, because NPW > 0 d. No, because NPW < 0 QUESTION 5 You consider purchasing a computer system for $12,000. Annual upgrades will cost $500. Your expected salvage value is $1000 at the end of 5 years. The system is faster and will save you $4000 per year over your current system. If the interest rate = 10%: a. EUAC = 12000 + 500(P/A,10%,5) - 1000(P/F,10%,5) b. EUAC = 12000(A/P,10%,5) + 500 - 1000(A/F,10%,5) c. EUAC = 12000(A/P,10%,5) - 500 - 1000(A/F,10%,5) d. EUAC = 12000(A/P,10%,5) - 500 + 1000(A/F,10%,5) QUESTION 6 You consider purchasing a computer system for $12,000. Annual upgrades will cost $500. Your expected salvage value is $1000 at the end of 5 years. The system is faster and will save you $4000 per year over your current system. If the interest rate = 10%: a. EUAC = $1562 b. EUAC = $2802 c. EUAC = $3502 d. EUAC = $3719 QUESTION 7 You consider purchasing a computer system for $12,000. Annual upgrades will cost $500. Your expected salvage value is $1000 at the end of 5 years. The system is faster and will save you $4000 per year over your current system. If the interest rate = 10%: a. EUAB = $500 b. EUAB = $1000 c. EUAB = $2400 d. EUAB = $4000 QUESTION 8 You consider purchasing a computer system for $12,000. Annual upgrades will cost $500. Your expected salvage value is $1000 at the end of 5 years. The system is faster and will save you $4000 per year over your current system. If the interest rate = 10%, should you purchase the computer system? a. Yes, because B/C > 1 b. Yes, because B/C < 1 c. No, because B/C > 1 d. No, because B/C < 1 QUESTION 9 A successful alumna donates $500,000 to the OIT scholarship fund. If i = 6%, how much money can be given to worthy students each year without reducing the $500,000 principal? a. $8333 b. $15,000 c. $30,000 d. $50,000 QUESTION 10 A successful OIT graduate wants to set up an endowment that will pay $50,000 per year forever for maintenance of her favorite m,ountain bike trail. If the interest rate is 5%, how much must she set aside today to fund this endowment? a. $25,000 b. $50,000 c. $500,000 d. $1,000,000 QUESTION 11 You earn $65,000 in 2012. What will your salary be at the end of 2017 if your salary increases by 6% per year? a. $68,900 b. $73,604 c. $86,985 d. $87,106 QUESTION 12 If you spend $5,000 on gasoline this year and prices increase 20% per year for the next three years, how much will you pay 3 years from now assuming you keep the same vehicle and drive the same number of miles? a. $5,306 b. $8,640 c. $12,539 d. $14,633 • Show less