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never [62]
3 years ago
6

In both Gamma and Delta average labor productivity is $20,000 per worker per year. The population of Gamma is 200,000 and the po

pulation of Delta is 400,000. Sixty percent of the population in each country is employed. Total output in Gamma is _____ and total output in Delta is _____.
Business
1 answer:
cupoosta [38]3 years ago
8 0

Answer:

Total output in Gamma is $2,400,000,000 and total output in Delta is $4,800,000,000.

Explanation:

The population of Gamma is 200,000 and the population of Delta is 400,000. Sixty percent of the population in each country is employed.

The number of worker in Gamma = 60% x 200,000 = 120,000 people

The number of worker in Delta = 60% x 400,000 = 240,000 people

Total output = Average labor productivity x The number of worker

Total output in Gamma = $20,000 x 120,000 = $2,400,000,000

Total output in Delta = $20,000 x 240,000 = $4,800,000,000

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Explanation:

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3 years ago
Assume that a 4 percent decrease in income results in a 6 percent increase in the quantity demanded of a good. The income elasti
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Answer: The correct answer is "a. negative, and the good is an inferior good.".

Explanation: Assuming that a 4 percent decrease in income results in a 6 percent increase in the quantity demanded of a good, the income elasticity of demand for the good is negative because the good is an inferior good.

Inferior goods are those material elements that are related to the consumption of people who have lower incomes and who cover their basic needs.

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3 years ago
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Mildred and Robert are the only buyers in the market for DVDs. Mildred buys 5 DVDs when the price of a DVD is ​$6.00 ​, 4 DVDs w
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Answer:

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A. increases as the price rises

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3 years ago
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A company should only shut down if it is unable to make enough revenue to cover its variable cost.

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