Business, 15.04.2020 02:02 deannajd03
Consider a simple economy that produces two goods, beer (denoted by x) and quiche (denoted by y), using labor and capital (denoted by L and K, respectively) that are supplied by two types of households, those consisting of wimps (denoted by W) and those consisting of hunks (denoted by H). Each household of hunks supplies 100 units of labor and no units of capital. Each household of wimps supplies 10 units of capital and no units of labor. There are 100 households of each type. Both beer and quiche are produced with technologies exhibiting constant returns to scale. The market supply curves for beer and quiche are where w denotes the price of labor and r denotes the price of capital. The market demand curves for beer and quiche are given by where X and Y denote the aggregate quantities of beer and quiche demanded in this economy and IW and IH are the household incomes of wimps and hunks, respectively. Finally, the market demand curves for labor and capital are given by There are four unknowns in our simple economy: the prices of beer and quiche, Px and Py, and the prices of labor and capital, w and r. Write the four equations that determine the equilibrium values of these unknowns.
Answers: 3
Business, 21.06.2019 15:30
Walter wants to deposit $1,500 into a certificate of deposit at the end of each ofthe next 6 years. the deposits will earn 5 percent compound annual interest. ifwalter follows through with his plan, approximately how much will be in his accountimmediately after the sixth deposit is made?
Answers: 1
Business, 21.06.2019 17:10
Teller co. is planning to sell 900 boxes of ceramic tile, with production estimated at 870 boxes during may. each box of tile requires 44 pounds of clay mix and a quarter hour of direct labor. clay mix costs $0.40 per pound and employees of the company are paid $12.00 per hour. manufacturing overhead is applied at a rate of 110% of direct labor costs. teller has 3,900 pounds of clay mix in beginning inventory and wants to have 4,500 pounds in ending inventory. what is the total amount to be budgeted for manufacturing overhead for the month?
Answers: 1
Business, 21.06.2019 20:30
Partnerships are the most common type of business firms in the world. t/f
Answers: 3
Business, 22.06.2019 04:00
Donβt give me to many notifications because it will cause you to lose alot of points
Answers: 1
Consider a simple economy that produces two goods, beer (denoted by x) and quiche (denoted by y), us...
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