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kicyunya [14]
3 years ago
11

Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shov

el, a machete, and a chainsaw. Clearing one acre brings in $1,400 in revenue. Each worker’s equipment costs the worker’s employer $210 per month to rent and each worker toils 40 hours per week for 4 weeks each month.Instructions: In part a, enter your answer as a whole number. In parts b-e, round your answers to 2 decimal places.a. What is the marginal revenue product of hiring one low-skilled worker to clear woodland for one month?b. How much revenue per hour does each worker bring in?c. If the minimum wage were $8.70, would the revenue per hour in part b exceed the minimum wage?A. Yes B. NoIf so, by how much per hour?d. Consider the employer’s total costs. These include the equipment costs as well as a normal profit of $50 per acre. If the firm pays workers the minimum wage of $8.70 per hour, what will the firm’s economic profit or loss be per acre?The firm's (Click to select) (loss profit) per acre will be:e. At what value would the minimum wage have to be set so that the firm would make zero economic profit from employing an additional low-skilled worker to clear woodland?

Business
1 answer:
olga2289 [7]3 years ago
4 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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Answer:

A) 964,286

B) 14

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Explanation:

The portfolios expected return = (0.5 x $70,000) + (0.5 x $200,000) = $35,000 + $100,000 = $135,000

If the risk free investment yields 6% per year, and you require a risk premium of 8%, then the total interest rate that the portfolio yields must be 6% + 8% = 14%

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if the risk premium increase by 4%, then the price of the portfolio will decrease to: $135,000 / 18% = $750,000

4 0
3 years ago
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Answer:

b. Battery

Explanation:

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A key to economic growth and development is to:
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According to economic theory, productivity is the main key to economic growth, It is, the relation between output over input. Productivity is mainly driven by four components: innovation, including the creation of new technologies: education to spread these new technologies and develop the capacity of the workforce, efficiency to promote the effective and flexible allocation of resources for production in various sectors.

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Olin [163]

Answer:

The correct answer is c. firm-level demand

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