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When supply shifts to the right and demand stays constant, the equilibrium price
A. decreases and the equilibrium quantity decreases.
B. decreases and the equilibrium quantity increases.
C. increases and the equilibrium quantity decreases.
D. increases and the equilibrium quantity increases.
Consider a firm with the following production function πΈ = πππππ³ β ππ³ πΒ
a. How many units of labor are needed at that point.
b. Obtain the function of marginal product of labor (ππ πΏ).
c. Graph the production function and the ππ πΏ.
Consider the following supply and demand schedule of wooden tables.
a. Draw the corresponding graphs for supply and demand.
b. Using the data, obtain the corresponding supply and demand functions.
c. Find the market-clearing price and quantity.
Price per thousand Supply Demand
2 96 110
4 196 190
6 296 270
8 396 350
10 496 430
12 596 510
14 696 590
16 796 670
18 896 750
20 996 830
One way of aiding low-income families is to increaseΒ the minimum wage. An alternative is to provide a direct grant of non-labor income. Compare the impact of these two options on work incentives.
In a competitive market, supply and demand decrease simultaneously. The effect on equilibrium quantity is
If the demand for motor vehicles decreases due to a drop in consumer income, and if, at the same time, increases in factor prices cause the supply of motor vehicles to decrease, the price of motor vehicles will
A technological advancement for Good A will shift the _________ curve of Good A to the _________, leading to aΒ ___________in the equilibrium price.
A firm operates in aperfectly competitive market . The market price of it's product is 4 birr and the total cost function is given by TC=1/3Q^3-5Q^2+20Q+50,Where TC is the total cost and Q is the level of output
A. What level of output should the firm produce to maximize it's profit ?
B. Determine the level of profit at equilibrium ?
C. What minimum price is required by the firm to stay in the market ?
identify one personal and one social consequence of unemployment in your country or society. What roles, do you believe the government should play to reduce negative consequences?Β
B. The company just paid a $1.48 annual dividend and announced the plans to pay $1.54 next year. The dividend growth rate is expected to remain constant at the current level for the following 4 years and then settle at 3 percent per year. If you are planning to buy this stock in two yearsβ time, how much would you expect to pay for it if the required rate of return is 7 percent at the time of your purchase? (Use two decimal rounding)
