The production function is given as y 4(3.00N-0.0064N2),
where the marginal product of labor is given by
MPN = 4(3.00 - 0.0128N).
The equation for the labor supply curve is:
NS = 62.0 + 15(1 - f)w,
where NS is the amount of labor supplied, wis the real wage and t is the tax rate on wage income. The tax rate is t = 0.25.
Determine the labor demand function.
Using the labor demand and labor supply functions and the concept of​ labor-market equilibrium, determine the​ general-equilibrium values of the real wage ​(w​), employment ​(N​), and output ​(Y​).

M. cotteleer electronics supplies microcomputer circuitry to a company that incorporates microprocessors into refrigerators and other home appliances. one of the components has an annual demand of 235 units, and this is constant throughout the year. carrying cost is estimated to be $1.25 per unit per year, and the ordering (setup) cost is $21 per order. a) to minimize cost, how many units should be ordered each time an order is placed? b) how many orders per year are needed with the optimal policy? c) what is the average inventory if costs are minimized? d) suppose that the ordering cost is not $21, and cotteleer has been ordering 125 units each time an order is placed. for this order policy (of q = 125) to be optimal, determine what the ordering cost would have to be.

In myanmar, six laborers, each making the equivalent of $ 2.50 per day, can produce 40 units per day. in china, ten laborers, each making the equivalent of $ 2.25 per day, can produce 48 units. in billings comma montana, two laborers, each making $ 60.00 per day, can make 102 units. based on labor cost per unit only, the most economical location to produce the item is china , with a labor cost per unit of $ . 05. (enter your response rounded to two decimal places.)

Which of the following best describes what production accomplishes? a. efficient use of natural resources. b. a reduction in the size of the labor force. c. an increase in supply that lowers prices. d. value added to resources that already exist.