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Assume: PQ = $2.00 PL = $2.00 PK = $4.00
K MPK MP/PK MRP/PK L MPL MP/PL MRP/PL
1 28 7 14 1 15 5 10
2 24 6 12 2 12 4 8
3 20 5 10 3 9 3 6
4 12 4 8 4 6 2 4
5 8 2 4 5 3 1 2
6 4 1 2 6 1 0.5 1
7 2 0.5 1 7 0.5 0.25 0.5
8 1 0.25 0.5 8 0.25 0.13 0.26
9 0.5 0.125 0.25 9 0.125 0.06 0.12
The profit maximizing combinations of K and L are
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- Assume: PQ = $2.00 PL = $2.00 PK = $4.00 K MPK MP/PK MRP/PK L MPL MP/PL MRP/PL 1 28 7 14 1 15 5 10 2 24 6 12 2 12 4 8 3 20 5 10 3 9 3 6 4 12 4 8 4 6 2 4 5 8 2 4 5 3 1 2 6 4 1 2 6 1 0.5 1 7 2 0.5 1 7 0.5 0.25 0.5 8 1 0.25 0.5 8 0.25 0.13…arrow_forwardWages, dividends, interest, rent = $500 Households Consumer spending = $400 Taxes = $100 Government Factor markets Goods and services markets A) $0 Government purchases of Exports goods and services = $30 = $100 Reference: Ref 7(22)-1 Figure 7-1: Circular-Flow Model B) $30 C) $60 Wages, dividends, interest, rent = $500 Firms D) $100 Imports = $30 (Figure 7-1: Circular-Flow Model) Use Figure 7-1: Circular-Flow Model. What are net exports? Rest of world Listenarrow_forwardAssume: PQ = $2.00 PL = $2.00 PK = $4.00 K MPK MP/PK MRP/PK L MPL MP/PL MRP/PL 1 28 7 14 1 15 5 10 2 24 6 12 2 12 4 8 3 20 5 10 3 9 3 6 4 12 4 8 4 6 2 4 5 8 2 4 5 3 1 2 6 4 1 2 6 1 0.5 1 7 2 0.5 1 7 0.5 0.25 0.5 8 1 0.25 0.5 8 0.25 0.13…arrow_forward
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