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Author Question: What is meant by comparative statics? Assume that a firm wants to set up a factory. It considers ... (Read 115 times)

fagboi

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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
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thall411

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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.
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fagboi

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

bassamabas

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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