Why is high productivity important for a nation?

9 - According to Adam Smith, how were changes in production at the pin factory an example of how capitalism could benefit the entire community?

Number of Workers 0 1 2 3 4 5 Output Select one: O a. $400. O b. $200. O c. $100. d. $500. 0 100 280 Marginal Product of Labor 80 60 20 Value of Marginal Product of Labor $1,000 $800 $400 Wage $500 $500 $500 $500 $500 Marginal Profit $500 $100 Refer to the table above. To maximize its profit, the firm will hire workers as long as the value of the marginal product of labour equals or exceeds

If permits can be bought and sold for $900 how much better off is firm A with trade than without trade of permits? Edit View Insert Format Tools Table 12pt M Paragraph

1. Answer the following. • What are the five major industry, economic, political and social changes taking place that will affect a company? • What are the opportunities and problems ahead in careers? • How will a profession be different in two years? In five years?

Question: Do you think the computer software industry (or other similar industries in gaming, cell phones, etc.) is likely to have a large number of firms or only a few firms? Explain your answer and provide an example of a software (or similar) firm and the product(s) it produces.

WHICH OF THE FOLLOWING CONCEPTS OF PROFIT TAKES INTO ACCOUNT THE OPPORTUNITY COST OF CAPITAL A. MANAGERIAL PROFIT B. FINACIAL PROFIT C. ECONOMIC PROFIT D. ACCOUNTING PROFIT

A5.

Please help with b. $32 is incorrect. :(

4 No production in the short-run and positive production in the long-run Suppose that the marginal cost curves in the short-run and in the long-run are identical for a certain firm, and that the short-run average cost curve is below the long-run average cost curve. Then for a certain price, we can show that the firm wants to produce in the short-run, but not in the long-run. In this question, we will investigate whether a reversed situation is possible. Consider the following production function: Q = L³K². The wage for labor (L) is w = 1. The cost of using capital (K) has two parts: the first is the rent that the firm needs to pay capitalists (r = 2), and the second is the maintenance cost (m = 2). The firm can change labor and capital in the long-run, but it can change only labor in the short-run. Thus, the long-run economic cost with (L,K) is wL+ (r+m)K, while the short-run economic cost of running the firm is wL + mko for given capital Ko. (Here we are implicitly assuming the…