Using the DMP Model the factor that determines a consumer’s decision to search for work are:
- The labor force, titled as Q.
- The payoff gotten from home production.
- The payoff gotten as a result of searching for market work.
<h3> What factor determines a firm’s decision to post a vacancy? </h3>
They are:
1. The cost that one gets from posting a vacancy, k
2. The wage rate which the suppose firm would pay, w
3. The outcome or the output that worker will make, z, etc.
Note that in DMP model, if a worker and firm are matched, the factor that determines the wage paid to the worker is the equation of :
w = a(z-b) + b,
Where a(z-b) = Share the worker will get from the total share as a result of the bargain, based on the worker's bargaining power.
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Answer:
The answer is letter A. Earning normal profits because their returns on investment are equal to the opportunity costs of the time invested.
Explanation:
Because all resources are being used efficiently and there is no need to use them elsewhere.
Answer:
b. $30
Explanation:
producer surplus = price producer able to sell - price producer would be willing to sell
⇔ price producer able to sell = producer surplus + price producer would be willing to sell = 53 + (10+12+15) = $90 for 3 lawn
if Ronnie charges all customers the same price for lawn mowing, that price is $30 (= $90/3)
Answer:
The correct answer is D: 102.92
Explanation:
The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.
CPI index= (cost of the basket in a given year/cost of the market basket at base)*100
CPI index= (70/68)*100= 102.94
