An economy has the production function
Y= 0.2(K+ sqrt N)
In the current period, K= 100 and N= 100
a. graph the relationship between output and capital, holding labor constant at its
current value. what is the MPK? Does the marginal productivity of capital
diminish?
b. graph the relationship between output and labor, holding capital constant at its
current value. Find the MPN for an increase of labor from 100 to 110. Compare
this result with the MPN for an increase in labor from 110 to 120. Does the
marginal productivity of labor diminish?
Answers
The graph shows an upward-sloping relationship between output and capital, The graph shows an upward-sloping relationship between output and labor, with a diminishing marginal productivity of labor.
To graph the relationship between output and capital, we need to hold labor constant at its current value of N=100. So, the production function becomes
Y= 0.2(K+√(100)) = 0.2(K+10) = 0.2K+2
To graph this function, we can plot the points for different values of K
K Y
100 22
200 42
300 62
400 82
The graph of this function is a straight line with a slope of 0.2, which means that the MPK is constant and equal to 0.2. The marginal productivity of capital does not diminish as more capital is added.
To graph the relationship between output and labor, we need to hold capital constant at its current value of K=100. So, the production function becomes
Y= 0.2(100+√(N)) = 0.2N+20
Here are the points to plot for the graph.
N Y
100 20
110 23.148
120 25.962
To find the MPN for an increase of labor from 100 to 110, we need to calculate the change in output
MPN = (Y₂-Y₁)/(N₂-N₁) = (0.2(110+√(110))-0.2(100+√(100)))/(110-100) = 0.563
To find the MPN for an increase in labor from 110 to 120, we need to calculate the change in output
MPN = (Y₂-Y₁)/(N₂-N₁) = (0.2(120+√(120))-0.2(110+√(110)))/(120-110) = 0.536
The MPN diminishes as more labor is added, as seen from the decreasing values of MPN.
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Related Questions
The use of the allows bank customers the ability to complete most transactions electronically without leaving home.
Answers
The use of the internet allows bank customers the ability to complete most transactions electronically without leaving home.
What is Internet?Internet help to transmit data or information across a network, making it possible for internet user to communicate and exchange information.
Example of internet are:
WAN which full meaning is Wide Area Network.LAN which full meaning is Local Area Network.Hence, internet play an important function as it make it possible for bank customers to complete their transactions electronically or to carryout their transaction online without having to leave their various homes.
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Molly has a $2500 down payment saved for this purchase. Molly assumes the $1500 cash allowance will come straight off her total. How much loan does molly need?.
Answers
The Loan needed by Molly is $21,495
Based on the information given molly is going to pay the exact MSRP of $25,495 and Cash Allowance of $1,500
Now, let determine How much loan does Molly need:
Using this formula,
Loan needed =MSRP amount- Down Payment-Cash allowance
Where:
MSRP amount=$25,495
Down payment=$2,500
Cash allowance=$1,500
Let plug in the formula:
Loan needed=$25,495-$2,500-$1,500
Loan needed=$21,495
In conclusion, The Loan needed by Molly is $21,495.
What Is the Manufacturer's Suggested Retail Price (MSRP)?The price a product's manufacturer advises it to be sold for at the point of sale is called the manufacturer suggested retail price (MSRP). Some retailers also use the term "list price" to refer to the MSRP. An MSRP can be assigned to any retail item, even though they are most usually associated with cars. There is also an MSRP for other expensive items like electronics and appliances.
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All city realty, inc. issued shares of stated value common stock for per share. the journal entry to record this transaction includes a credit to?
Answers
When shares are issued like All City Realty Inc did, the journal entry to record it will include a credit to Paid-In Capital in Excess of Stated-Common for $49,000.
How will All City Realty record the transaction?The entire amount that was earned from the share issuance is:
= 7,000 x 11
= $77,000
This entire amount will go to the cash account as a debit to show that the cash account is increasing in value.
The amount to the common stock is:
= Stated value x number of shares
= 4 x 7,000
= $28,000
This amount will be credited to the Common Stock account to show that it is increasing.
The difference is:
= 77,000 - 28,000
= $49,000
This amount will be credited to the Paid-In Capital in Excess of Stated-Common.
In conclusion, option A Paid-In Capital in Excess of Stated-Common for $49,000 is correct.
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Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it?
Answers
Many corporate executives reported that they use social media to communicate their socially responsible activities to customers because it reaches broad and diverse groups; allows them to connect directly with customers; allows them to reach specific groups more directly
Social media is a collective term for websites and applications focused on communication, community-based input, interaction, content sharing, and collaboration. People use social media to stay in touch and interact with friends, family, and diverse communities
Engage with your audience and drive website traffic. However, there can also be downsides, such as resources needed and negative feedback.
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When faced with an intercultural ethical dilemma, you should ask yourself if the action is legal, if you can rule out a better alternative, if a trusted advisor would agree, and ________.
Answers
When faced with an intercultural ethical dilemma, you should ask yourself if the action is legal, if you can rule out a better alternative, if a trusted advisor would agree, and if you would do it if you were on the opposite side.
Why do you understand the ethical dilemma?
A decision-making issue between two possibilities in which neither is wholly acceptable from an ethical standpoint is known as an ethical dilemma (also known as a moral dilemma, ethical paradox, or moral conundrum).
How do you identify an ethical dilemma?
Health workers of all stripes frequently run across moral conundrums. You are advised to make decisions using a sequential process while taking ethical issues into account:
Identify the issue thereIdentify the problem and those in charge.Think about the pertinent details, laws, and regulations.Consider other possibilities following analysis.Implement the solutionReviewing and actingLearn more about an ethical dilemma :https://brainly.com/question/13015186
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When a few firms with market power agree to restrict output and/or charge higher price, it is called
Answers
A few firms with market power agree to restrict output and/or charge higher price, it is called collusion.
Collusion is a fraudulent agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading, or fraudulent the legal rights of others. .. Collusion is not always considered illegal.
Collusion can lead to High price for consumers. This leads to reduced consumer surplus and allocation inefficiencies (price exceeds marginal cost). Collusion, which acts as a barrier to entry, can prevent new companies from entering the market.
Collusion refers to a combination, conspiracy, or agreement between sellers that raises or modifies prices, reduces production and increases profits.
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A typical ____________________________ fiscal policy allows government to decrease the level of aggregate demand, through increases in taxes.
Answers
The fiscal policy allows the government to decrease the level of aggregate demand, through increases in taxes is the Contractionary fiscal policy
See explanation bellow
What is a Fiscal policy?Simply put, a fiscal policy can be defined as the various ways in which government regulates the economy by ways in which they spend money and collect taxes.
There are basically three types of fiscal policy and they are
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In a small group, which type of roles often involve seeking, processing, and evaluating information?
Answers
The individual role frequently makes the group process problematic. When playing individual role, group members prioritize their own needs and interests over the needs of the group. As a result, they frequently exhibit traits like negativity, aggression, or endless laughter.
Different groups can produce positive, neutral, or negative experiences depending on their qualities, functions, and goals. Small groups typically concentrate on some form of task completion or goal attainment, but our interpersonal relationships largely focus on relationship building.
Examples of tiny groups that would each have a particular size, structure, identity, and interaction style include a campaign team for a state senator, a community of local organic farmers, and a college learning community focused on math and science.
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Many home buyers express common concerns about the energy efficiency of their homes. Of the following, which is a measurement of the efficiency of energy used to determine the effectiveness of appliances
Answers
In a case whereby Many home buyers express common concerns about the energy efficiency of their homes the measurement of the efficiency of energy that is used to determine the effectiveness of appliances is The EER.
What is The EER?
The EER can be regarded as the ratio of the cooling capacity to the power input (in watts) of a system.
It should be noted that The higher the EER rating, the more efficient the air conditioner, in this case, the measurement of the efficiency of energy that is used to determine the effectiveness of appliances is The EER.
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If a corporation pays the premium on a group life policy for its employees, the corporation is required to report how much additional taxable income for each employee?
Answers
If a corporation pays the premium on a group life policy for its employees, additional taxable income for each employee is Nothing
This is further explained below.
What is additional taxable income?Generally, Along with wages, salaries, commissions, fees, and gratuities, this also covers other types of pay, such as stock options and fringe benefits. Your employer must provide you with a Form W-2, Wage and Tax Statement, detailing the compensation you received for your services.
In conclusion, If an employer contributes to the cost of a group life insurance policy for its workers, the employees do not have to report any extra income for tax purposes.
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In order to determine GDP using the expenditures approach, all spending on _____ goods and services, not intermediate goods, is added up.
Answers
In order to determine GDP using the expenditures approach, all spending on final goods and services, not intermediate goods, is added up.
This is further explained below.
What is GDP?Generally, GDP calculates the monetary value of the final goods and services—those purchased by the consumer—produced in a nation during a specific time period.
In conclusion, The expenditures technique calculates GDP by adding up all expenditures on final products and services, not intermediate goods.
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Suppose that government requires airline companies to have at least 30 airplanes and serve at least 20 different airports. This is an example of
Answers
Suppose that government requires airline companies to have at least 30 airplanes and serve at least 20 different airports. This is an example of barriers to entry.
What is monopoly?This is a market structure, where there is only one seller of a product and the seller can influence the price of the product.
Characteristics of a monopoly are:
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A member of the Scrum Team does not want to participate in the Sprint Planning event and considers it a waste of time. What should the Scrum Master do first?
Answers
You'll need to work with him one-on-one to assist him to internalize the scrum ideas and concepts. Focus on the areas in your sprint planning where he can make a difference; emphasize how the team needs and appreciates his help. " This is further explained below.
What is sprint planning?Generally, Scrum's sprint planning is the first step of a new sprint. Sprint planning is concerned with determining what can be accomplished in a sprint and how it can be done.
In conclusion, You'll need to work with him one-on-one to help him internalize the scrum culture's core values and concepts as he learns them. Focus on the areas in your sprint planning where he can make a difference; emphasize how the team needs and appreciates his help.
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You are working as a private math tutor to raise money during spring break. Assuming you want to earn as much money as possible, you should:
Answers
Answer:
Assuming you want to earn as much money as possible, you should work longer hours so that you are paid more.
Explanation:
Kanya has a credit card that gives a 6% discount on every purchase and free shipping when used online. The annual percentage rate on the credit card is 12%. Kanya wants to buy a laptop that costs $420. Which statement about the cost of the laptop is true?
If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $25.20 more than paying cash for the laptop.
If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $50.40 more than paying cash for the laptop.
If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $50.40 less than paying cash for the laptop.
If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $25.20 less than paying cash for the laptop.
Answers
Option (d) is true i.e, If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $25.20 less than paying cash for the laptop.
The Discount is a price cut applied to the regular cost of a good or service in an effort to generate or boost sales. Retailers and manufacturers use these reductions, also known as "sales" or "markdowns," across a variety of industries.
Types of Discounts:
Trade discount, Quantity discount, Cash discount.A price reduction offers a financial benefit, an incentive for customers to buy the product, according to the economic impacts of price reductions. Numerous earlier research has shown that consumers perceive greater levels of savings for a product when a larger price discount is offered.
The credit card that Kanya has to give a discount of = 6%
The cost of the laptop Kanya wants to buy costs= $420
The amount that will be deducted from the cost of the laptop= 420 × 6/100
= 2520/100
= $25.2
Therefore, the correct statement is that If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $25.20 less than paying cash for the laptop.
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The premium charged for a standard workers compensation policy is based primarily on a company's:________
Answers
The premium charged for a standard workers compensation policy is based primarily on a company's payroll.
In simple terms, payroll is defined as the process when a company's employees are paid . Payroll includes collecting the list of employees to be paid after that tracking the hours worked is done ,then the employee's pay is calculated, distributing the salary on time, and the payroll expenses are recorded.
In order to get these steps done, a lot of background work is involved in it because payroll is more than just about calculating paychecks.
It is an intricate set of process in which different teams are required to work in tandem. But all these complexities can be managed effortlessly by the standardization of the processes, after that selecting the right service delivery model, and then using modern technology to manage payroll operations.
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The amount of the average investment for a proposed investment of $191,000 in a fixed asset with a useful life of 4 years, straight-line depreciation, no residual value, and an expected total income of $30,300 for the 4 years is a.$47,750 b.$7,575 c.$30,300 d.$95,500
Answers
$30300
Annual depreciation = (purchase price - salvage value) / useful life
Straight line depreciation = Annual depreciation / (purchase price -salvage value)
The steps in calculating a straight line depreciation are:
Find out how much the asset costs.
To determine the entire depreciable amount, deduct the asset's estimated salvage value from the asset's purchase price.
Find out how long the item will be useful.
To calculate the annual depreciation amount, multiply the total from steps (2) and (3) by the figure determined in steps (3).
i.e, = $191000-$30300 = $160700
an asset with a useful life of 4 =$160700/4 =$40 175
so the straight-line depreciation rate is at 4.7%
In 4 years Straightline depreciation will be $30300
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A profit-maximizing firm in monopolistic competition should shut down in the short run if?
Answers
When the price is less than average variable cost, a profit-maximizing firm decides to close down in the short run. Furthermore, if the firm's total revenue is less than variable costs in the short run, the firm should close down.
In long run, a business must make at least normal profit to justify staying in an industry, but in the short run, firm will continue to produce as long as total revenue covers total variable costs or price per unit is greater than or equal to average variable cost (AR = AVC). This referred to as the short-run shutdown price.
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You make $10.25 per hour. You have 7.5% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week
Answers
The amount that will be taken off the pay check for the 401k retirements plan given all the criteria indicated above is $38.82 (Option D)
What is the computation justifying the above?Given:
Pay Per Hour: $10.25
Bonus: $15.375 for every hour worked over forty hours.
Total Hour worked: 47 Hours
Percentage deductible: 7.5%
Total Pay thus =
(40 *10.25) + (7 *15.375)
= $517.625
Total 401 K deduction thus, =
7.5% * 517.625
401K Deduction total = $38.82
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Full Question:
You make $10.25 per hour. You have 71/2% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week? You get paid time-and-a-half for all hours over 40.
Select one:
A. $36.13
B. $69.02
C. $54.20
D. $38.82
E. $14.35
A private closed economy includes:
Answers
A private closed economy includes households, businesses but not government or international trade.
What is a private closed economy?A private closed economy is an economy that is driven by consumer spending and business investment. There is no contribution from the government. Also a private closed economy is closed off from the import or the export of goods and services.
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A multi-step income statement ________. Group of answer choices combines cost of goods sold and operating expenses considers interest revenue an operating activity is another name for a simple income statement separates cost of goods sold from operating expenses
Answers
A multi-step income statement is option(a) i.e, separates the cost of goods sold from operating expenses
What is an income statement?An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period. It describes the process through which revenues are converted into net income or net profit.
An income statement's objective is to display a company's financial success over a specific time frame. It narrates the financial history of a company's operations. You may discover all of the revenue and expense accounts for a specific time period in an income statement.
The multi-step income statement breaks down a company's profits or losses for a particular reporting period. It provides a thorough evaluation of a company's financial performance. A company's operating revenue and operating expenses are separated by its non-operating revenue and non-operating expenses by its format.
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Assuming the market situation from part (b), and that producers will not charge less than $1, would the quantity supplied of widgets be more or less than 11 widgets? explain
Answers
The quantity supplied of widgets is more than 23.
Price Total Supply
1 3+5+3 = 11
2 5+6+6 = 17
3 7+7+9 = 23
You can think of them as an "overview" view of your app's key data and features, accessible directly from the user's home screen. Users can move widgets around the home page. You can customize the amount of information in the widget to your liking by resizing where supported.
The widget processes real-time her website data and can be personalized to correspond to the identity of the website. Some of the most common examples of widgets are event countdowns, website visit counters, clocks, and daily weather forecasts.
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Write the definition in your own words
_________________________________________________________________________________________________________
Income Statement:
_________________________________________________________________________________________________________
_________________________________________________________________________________________________________
Accounting Period:
_________________________________________________________________________________________________________
Time-Period Principle:
_________________________________________________________________________________________________________
_________________________________________________________________________________________________________
_________________________________________________________________________________________________________
Matching Principle:
Answers
Income Statement corresponds to the statement of income and expenses related to organizational activity and profit and loss for a period.
An Accounting period refers to a period of time, such as a year, a month, a quarter, in which the situation of the company in relation to its accounting at that moment will be analyzed.
The Time-period Principle refers to the standard by which a company usually analyzes its financial results, with annual, quarterly and monthly statements being common.
The Matching Principle, on the other hand, refers to recording an expense in the same period of recording the related revenue, to generate greater structuring and reliability in the statements.
What is the purpose of accounting?It is the registration and organization of a company's financial resources for greater control over assets. Through accounting sciences, a company can recognize its real situation in the market, enabling decision-making more aligned with its objectives, in addition to demonstrating security for stakeholders.
Therefore, accounting is an essential instrument for controlling financial resources, helping a company to be well positioned in the market.
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which of the following correctly explains the actions an agent should take if a customer wants to apply for an insurance policy
Answers
The action taken by the agent for the customer who wants to apply for the insurance policy should be to complete the application and review the information with the customer prior to obtaining the customer's signature, then send the application off to the insurance company.
What is a Insurance Policy?The insurance firm (the insurer) and the person(s), company, or other entity being covered have a legal agreement called an insurance policy (the insured). By reading your policy, you can make sure that it addresses your needs and that both you and the insurance provider are aware of your obligations in the event of a loss. Many insureds obtain a policy without fully comprehending what is covered, what is excluded from coverage, and what requirements must be satisfied before compensation will kick in in the event of a loss. The SCDOI wants to remind customers that thoroughly reading and comprehending your policy will help you steer clear of issues and disputes with your insurance provider in the case of a loss.The insurance agreement outlines the main commitments made by the insurance provider and details the coverage.
Therefore, The action taken by the agent should be to complete the application and review the information with the customer prior to obtaining the customer's signature, then send the application off to the insurance company.
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An advantage of licensing to a company is that it ________, while the licensee gains production expertise or a well-known product without having to start from scratch.
Answers
An advantage of licensing to a company is that it can enter into a foreign market at a little risk, while the licensee gains production expertise or a well-known product without having to start from scratch.
Licensing of the international business transactions gives the licensee certain type of rights and resources to manufacture or market a particular product in a particular country, generally called the host country.
Licensing also represents a business arrangement in which one company is given permission by another company or individual to manufacture its product by giving a specific fee.
This arrangement includes allowing the licensee to use the patents, trademarks, copyrights, designs, and other intellectual property rights of the licensor.
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Buyer Kristin has a buyer agency agreement with Carlotta, a licensee. Kristin's brother, Dalton, is going to showings with Kristin and helping her decide which house is the best fit. Who is/are Carlotta's client(s)
Answers
The person that is going to be the client of Carlotta would be Kristen herself.
Who is a client?This is the term that is used to refer to the person that is making use of the services of another professional.
The client has the agent working for him or her. Kristin is the direct client in this question.
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The systematic risk principle argues that the market does not reward risks _____.
Answers
The systematic risk principle argues that the market does not reward risks that are borne unnecessarily.
Systematic risk is the principle that some risks are unavoidable and that diversification cannot prevent risk. Eliminating risk is highly impossible. This principle argues that the market does not reward risks that are borne unnecessarily.
Systematic risk is risk that impacts the entire market or a large sector of the market, and not just a single stock or industry. For instance, inflation, natural disasters, weather events, changes in interest rates, etc, impacts the entire market.
Hence, the principle of systematic risk argues that the market does not reward risks that are borne unnecessarily.
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Firms have a tendency to change the industry structure in their favor, making it more __ through horizontal mergers and acquisitions, since this tends to be more profitable than a fragmented one.
Answers
Firms have a tendency to change the industry structure in their favor, making it more consolidated through horizontal mergers and acquisitions, since this tends to be more profitable than a fragmented one.
Industry structure is described as the fundamental, underlying traits that influence how a set of businesses producing closely related goods compete with one another.
Porter's industry structure perspective on strategy is based on using the industry as the analytical unit, with the players' relative bargaining power and entry barriers serving as the main sources of supernormal profit.
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Which method for determining an imc budget attempts to link promotional dollars with sales objectives?
Answers
The share of market/share of voice method of developing an IMC budget is an attempt to link promotional dollars with sales objectives.
While share of voice measures the brand awareness on a particular channel, market share on the other hand, is the percentage of a market that a single company controls by revenue or number of customers.
Basically, share of voice helps you understand how popular your brand is compared to all your competitors. It has been proven that a brand's share of voice tends to correlate with its share of the revenue and market.
Integrated marketing communication (IMC) can be defined as the process used to unify marketing communication elements, such as public relations, social media, business development principles, and advertising.
Hence, the share of market/share of voice method helps in developing an IMC budget which attempt to link promotional dollars with sales objectives.
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Anton feels he needs to continue his relationship with his wife because if they broke up, it would be very costly for him financially and damage his business. Anton is showing?
Answers
Anton feels he needs to continue his relationship with his wife because if they broke up, it would be very costly for him financially and damage his business. Anton is showing Constraint commitment.
The desire to be together in the future—to have a lengthy time horizon for a relationship—is a key component of commitment.
Long-term relationship commitment has a significant impact on people's relationship behaviors, encouraging them to act in the couple's best interests rather than their own immediate self-interest.
One of the major advantages of taking a long-term perspective in partnerships like marriage is that the connection is assessed based on a longer time frame rather than just what is happening right now.
A here-and-now perspective would place a lot of pressure on the present exchange of positives and negatives as the basis for judging the relationship because few relationships are consistently gratifying.
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