This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is meant by comparative statics? Assume that a firm wants to set up a factory. It considers ... (Read 113 times)

fagboi

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
What is meant by comparative statics? Assume that a firm wants to set up a factory. It considers four different locations.
 
  The rent of the factory space and the time taken to transport the products from each of the locations to the market is shown in the table below. It is also given that the opportunity cost of time is 10 per hour.
  a) Which is the optimum location?
  b) If the opportunity cost of time changes to 30 per hour, is there any change in the optimum?
 
  Location Time Taken to Transport Products to the Market (hours per month) Rent ( per month)
  1 180 3,000
  2 150 3,200
  3 100 3,600
  4 60 4,100

Question 2

Refer to Figure 7.1. In equilibrium, the real wage is ________ and the amount of labor employed is ________.
 
  A) Y; B B) X; C C) Y; C D) Z; C
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

thall411

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 30, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


fagboi

  • Member
  • Posts: 535
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

adammoses97

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Chapter 6 Comparative Gov pg. 1 quiz Chapter 6 Comparative Gov pg. 1 quiz
Workers at a Nike factory in Indonesia insert soles into sneakers for fourteen cents an hour. Workers at a Nike factory in Indonesia insert soles into sneakers for fourteen cents an hour.
Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ... Abdominal thrusts are delivered with a firm thrust into the patient’s abdomen with an upward ...
Use a torque wrench and torque the valve cover retaining bolts to factory specifications. Use a torque wrench and torque the valve cover retaining bolts to factory specifications.
Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact. Basic two-handed kneading. Tissues are lifted with the whole hand in firm contact.
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Functional zones in a mitochondrion

For a complete list of videos, visit our video library