【简答题】ytical Questions 1) A firm is a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 w...
【简答题】ytical Questions 1) Industry demand is given by: QD = 1000 - P All firms in the industry have identical and constant marginal and average costs of $50/unit. a. If the industry is perfectly competi...
【简答题】ytical Questions 1) The table above shows the weekly relationship between output and number of workers for a factory with a fixed size of plant. a. Calculate the marginal product of labor. b. At w...
【简答题】ytical Questions: Suppose that the price elasticity of demand for wheat is known to be -0.75. Will a good wheat crop (which increases the supply of wheat) be likely to increase or decrease the rev...