Business, 20.03.2020 21:06, jazzzzhands21
Suppose the production function is = (200K − 4K)( − 0.0025) Where the productivity A=1, and capital stock K=10 And the marginal product of labor is P = 1600 − 8 The aggregate quantity of labor supplied is = 100 + + T, where w is the real wage rate and T is the lump-sum taxes that household paid to the government
Question 3: Which of the following statement correctly explains the effect of increasing tax payments on labor supply
A. Decreases household wealth and increases labor supply due to the income effect
B. Decreases household wealth and increases labor supply due to the substitution effect
C. Increases household wealth and decreases labor supply due to the income effect
D. Increases household wealth and decreases labor supply due to the substitution effect
E. None of the above
Answers: 1
Business, 21.06.2019 22:10, angellynn581
3. now assume that carnival booked lady antebellum in december 2016 to perform on the june 2017 western caribbean cruise. further assume that carnival pays lady antebellum its entire performance fee of $52,000 on december 28, 2016, for the june 2017 cruise. what journal entry will carnival make on december 28, 2016, for its payment to lady antebellum?
Answers: 1
Business, 22.06.2019 13:20, ooEVAoo
Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.
Answers: 1
Business, 22.06.2019 15:10, hsbhxsb
Popeye produces 20 cans of spinach in 8 hours. wimpy produces 15 hamburgers in 10 hours. if each hamburger trades for 1.5 cans of spinach, then: a. wimpy’s production and productivity are greater than popeye’s. b. popeye’s production is greater than wimpy’s, but his productivity is less. c. wimpy’s production is greater than popeye’s, but his productivity is less. d. popeye’s production and productivity are greater than wimpy’s.
Answers: 3
Suppose the production function is = (200K − 4K)( − 0.0025) Where the productivity A=1, and capital...
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