1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
maw [93]
3 years ago
10

Consider a simple economy that produces two goods, beer (denoted by x) and quiche (denoted by y), using labor and capital (denot

ed by L and K, respectively) that are supplied by two types of households, those consisting of wimps (denoted by W) and those consisting of hunks (denoted by H). Each household of hunks supplies 100 units of labor and no units of capital. Each household of wimps supplies 10 units of capital and no units of labor. There are 100 households of each type. Both beer and quiche are produced with technologies exhibiting constant returns to scale. The market supply curves for beer and quiche are where w denotes the price of labor and r denotes the price of capital. The market demand curves for beer and quiche are given by where X and Y denote the aggregate quantities of beer and quiche demanded in this economy and IW and IH are the household incomes of wimps and hunks, respectively. Finally, the market demand curves for labor and capital are given by There are four unknowns in our simple economy: the prices of beer and quiche, Px and Py, and the prices of labor and capital, w and r. Write the four equations that determine the equilibrium values of these unknowns.
Business
1 answer:
Zigmanuir [339]3 years ago
6 0

Answer:

See attached files

Explanation:

You might be interested in
Rawls would agree with the idea that inequalities can be justified if they are based on home-country values. redistribute wealth
Leto [7]

Answer:

benefit those in the worst position.

Explanation:

Rawls theory is based on the concept that no inequalities shall prevail in the country. Although some inequalities are unavoidable.

In those circumstances, when Rawls shall agree to such inequalities, and in-fact, further states that it shall benefit all the people. But for this he states that those in the worst position shall be benefited first and with maximum.

This shall create an equality as these people facing inequality will not be criticised further for any purpose, if they are paid off well in the first instance only.

3 0
3 years ago
In the life cycle theory of consumption, the motive to save is:A.To be able to open a business.B.To become wealthy.C.To leave a
DanielleElmas [232]

Answer: To afford to retire

                       

Explanation: The life cycle theory was established by Modigliani in 1957. This theory states that a rational individual manages its expenses with the motive of saving sufficient amount till his or her retirement.

As per this theory, the individual consumes almost same amount of income which leads to the situation of borrowing in times of low income and savings in times of high income.

However the minor differences leads to savings high than borrowings in times of low income the individual significant lowers his or her capital expenditure.

4 0
3 years ago
Business owner robert should use ________ schedules of reinforcement to keep his employees mentally alert and interested.
Ivanshal [37]

Robert should use intermittent schedules of reinforcement to keep his employees mentally alert and interested. The procedure of learning through association to increase or decrease voluntary behavior using punishment and reinforcement is known as operant conditioning.

Reinforcement schedules are the rules that govern the timing and frequency of reinforcer delivery in order to increase the likelihood that a target behavior will occur again, strengthen, or continue. A contingency timetable is one that includes reinforcement. While intermittent schedules provide reinforcers.

After some but not all correct replies, intermittent schedules apply reinforcement after each correct response, or none at all. Reinforcers are only used after the target behavior has occurred, so reinforcement is conditional on the desired behavior.

To learn more about intermittent click here,

brainly.com/question/27612374

#SPJ4

4 0
2 years ago
The essential problem that money solves in an economy is: a. a lack of a double coincidence of wants in an economy based on bart
navik [9.2K]

Answer:D

Explanation:

4 0
3 years ago
8. Hebner Housing Corporation has forecast the following numbers for this upcoming year: Sales $1,000,000 Cost of Goods Sold 600
lions [1.4K]

Answer:

Sales = 12,50,000

Explanation:

Detailed steps are given below

8 0
3 years ago
Other questions:
  • If the price of labor or some other variable resource decreases, the:
    12·1 answer
  • A smaller business with variable cash flow is looking to establish a pension plan for its 50 employees. It wants a plan that all
    11·2 answers
  • Assume the bonds below have the same term and principal and that the state or local government that issues the municipal bond ha
    12·1 answer
  • 2. Swinnerton Clothing Company's balance sheet showed total current assets of $900, all of which were required in operations. It
    12·1 answer
  • In relationship-based marketing, the focus is on enticing a buyer to make a purchase now based on such factors as low price, con
    12·1 answer
  • Which characteristic of globalization deals with the effects it has on workers in different
    7·2 answers
  • What are the three reasons that companies import?
    5·1 answer
  • Prepare the adjusting entry to record bad debts under each separate assumption. Bad debts are estimated to be 1.5% of credit sal
    6·1 answer
  • If the Sampson Company, a supplier of wood, understands the needs and requirements for wood for a few firms within a NAICS class
    14·1 answer
  • Which person would benefit most from taking advantage of a low variable
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!