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

Author Question: Using the table above, and assuming no bequest, what amount of consumption is chosen in period 1, if ... (Read 59 times)

madam-professor

  • Hero Member
  • *****
  • Posts: 584
on: Jun 30, 2018
Using the table above, and assuming no bequest, what amount of consumption is chosen in period 1, if the consumer wants consumption in the two periods to be equal?
 
  If initial wealth is 40,000, what amount of consumption is equal over the two periods?

Question 2

The marginal product of labor (MPL) measures ________.
 
  A) by how much labor increases for each additional unit of output
  B) by how much labor increases for each additional unit of capital
  C) by how much total factor productivity increases for each additional unit of labor
  D) by how much labor increases for each additional unit of productivity
  E) by how much output increases for each additional unit of labor


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

JaynaD87

  • Sr. Member
  • ****
  • Posts: 368
Reply #1 on: Jun 30, 2018
Answer to Question 1

Use equation (2), setting = - 34,902; 45,098

Answer to Question 2

E


madam-professor

  • Member
  • Posts: 584
Reply 2 on: Jun 30, 2018
Gracias!

sarah_brady415

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

China’s 8% annual increase in oil consumption China’s 8% annual increase in oil consumption
Latest element on the Periodic Table Latest element on the Periodic Table
How to graph line equations without a table of values How to graph line equations without a table of values
Checklist for Choosing a Massage Table Cont. Checklist for Choosing a Massage Table Cont.
Apply knee to chest stretch for posterior hip and leg muscles. Facing the table directly, place one ... Apply knee to chest stretch for posterior hip and leg muscles. Facing the table directly, place one ...
Embryonic Period Embryonic Period
Video: Neurosynapse Animation

For a complete list of videos, visit our video library