Economics Answers

the population in Country c decreases, due to a lower birth rate. At the same time, there is an increase in the cost of fertilizer, which is used to grow vegetables. explain how the market for vegetables will be affected by these changes. clearly indicate how the equilibrium price and the equilibrium quantity will be affected by these changes. Make use of a combination of diagrams and verbal explanation to explain your answer.

Define different entrepreneurs within the entrepreneurial process using relevant examples

Explain the effect of entrepreneurship on the economy using relevant examples

A firm can manufacture a product according to the production function (LOI, LO2,

LOS, L06)

Q = F(K, L) = K 3/4 L 1/4

a. Calculate the average product of labor, APL, when the level of capital is fixed at 81

units and the firm uses 16 units of labor. How does the average product of labor

change when the firm uses 256 units of labor?

b. Find an expression for the marginal product of labor, MP L, when the amount of capi-

tal is fixed at 81 units. Then, illustrate that the marginal product of labor depends on

the amount of labor hired by calculating the marginal product of labor for 16 and 81

units of labor.

c. Suppose capital is fixed at 81 units. If the firm can sell its output at a price of $200

per unit of output and can hire labor at $50 per unit of labor, how many units of labor should the firm hire in order to maximize profits?

Determine what is involved in the orientation of entrepreneurs using relevant examples

Describe the development of entrepreneurship theory using relevant examples

Suppose income (Y) is given at 400 units, and the money supply (M) is fixed at 200 units.

Suppose k drops from its initial value of 0.5 to 0.25.

What is the initial price level? What is the new price level after the change in k?Explain the

process that leads to the change in the aggregate price level.

Ordinary shareowners invested cash $35,000, accounts receivable $10,000 and supplies $15,000 in the Company. write the journal entry for this transaction

Explain different types of price elasticity of demand for health care.

what is demand and what are types of demand