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 94 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

Kedrick2014

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Comparative features of blood vessels. Comparative features of blood vessels.
Chapter 6 Comparative Gov pg. 1 quiz Chapter 6 Comparative Gov pg. 1 quiz
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.
One-handed kneading. Tissues are lifted with the whole hand in firm contact. One-handed kneading. Tissues are lifted with the whole hand in firm contact.
Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ... Gently squeeze/milk the arm with twisting motion. With oil or lotion on hands, use gentle but firm ...
An archaeological sample contains 0.700 g of lead-206 and 2.144 g of uranium-238. Assume that ... An archaeological sample contains 0.700 g of lead-206 and 2.144 g of uranium-238. Assume that ...
Video: Cleavage and Implantation Animation

For a complete list of videos, visit our video library