Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Chapter 19, Problem 2DQ
To determine
Reason for demographic changes.
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A software company in Silicon Valley uses programmers (labor) and computers (capital) to produce apps for mobile devices. The firm estimates that when it comes to labor, MPL = 5 apps per month while PL = $1,000 per month. And when it comes to capital, MPC = 8 apps per month while PC = $1,000 per month. If the company wants to maximize its profits, it should: LO16.5 a. Increase labor while decreasing capital. b. Decrease labor while increasing capital. c. Keep the current amounts of capital and labor just as they are. d. None of the above.
As one of the largest and fastest-growing industries in 2018, health care provided how many jobs for wage and salary workers? O 18 million 30 million 3 pts O 24 million O 12 million
3. Suppose that there are two countries with dif-
ferent levels of total factor productivity, and
that these differences exist because of barriers
to technology adoption in the low-productivity
country. Also suppose that these two countries
do not trade with each other. Now, suppose that
residents of each country were free to live in
either country. What would happen, and what
conclusions do you draw from this?
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