Answer:
D. All of the above.
Explanation:
Full employment describes an economic situation where every able and willing worker is employed. It represents a situation where the highest possibles numbers of unskilled and skilled people are in employment. In practice, full employment is when the economy attains the optimal levels of unemployment.
At full employment, the unemployment rate will be above zero percent. The reason is that the economy will always have as frictional unemployment. Frictional unemployment is the time it takes for an individual to find their ideal job. Structural and frictional unemployment contribute about 2 to 3 percent of unemployment in the economy. Economists thus consider a 3 percent unemployment as full employment.
Answer:
c.Equilibrium price will rise; equilibrium quantity will rise.
Explanation:
If there's an increase in demand and supply remains unchanged. The demand curve would shift to the right and there would be an excess of demand over supply. Equilibrium price and quantity would increase.
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Answer:
a) X1=5.64
X2=4.57
X3= 8.59
Optimal solution=104.77
b) Additional hour on machine 3 = 105.42 – 104.77 = 0.64
c) Additional 15 hours on machine 2 = 105.37-104.77 = 0.6
Explanation:
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