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 89 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
Gracias!

miss.ashley

  • Member
  • Posts: 371
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Factory Factory
Comparative features of blood vessels. Comparative features of blood vessels.
Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
The comparative brain sizes of different species The comparative brain sizes of different species
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
Comparative substrate cycles in glycolysis/gluconeogenesis Comparative substrate cycles in glycolysis/gluconeogenesis
Video: Neurotransmission at chemical synapses & Excitory and inhibitory potentials

For a complete list of videos, visit our video library