(page 104)suppose that the production function is y= 9k0.5n0.5.with this production function, the marginal product of labor is mpn= 4.5k0.5n-0.5. the capital stock is k= 25. the labor supply curve is ns=100[(1−t)ω] 2, where wis the real wage rate, tis the tax rate on labor income, and hence (1−t)w is the after-tax real wage rate. a.assume that the tax rate on labor income, t, equals zero. find the equation of the labor demand curve. calculate the equilibrium levels of the real wage and employment, the level of full-employment output, and the total after-tax wage income of workers. b.repeat part (a) under the assumption that the tax rate on labor income, t, equals 0.6.c. suppose that a minimum wage of w= 2 is imposed. if the tax rate on labor income, t, equals zero, what are the resulting values of employment and the real wage? does the introduction of the minimum wage increase the total income of workers, taken as a group?

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing company: work in process inventory $0 raw materials inventory $ 28 comma 100 finished goods inventory $ 40 comma 600 additional data: 1. actual manufacturing overhead for january amounted to $ 65 comma 000. 2. total direct labor cost for january was $ 63 comma 400. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no. 151, for which total direct labor charges were $ 5 comma 200 (1 comma 300 direct labor hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 700. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 300. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for january?

The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product