True or false. Your answer to each question should not extend beyond 3 to 5 sentences...
True or false. Your answer to each question should not extend beyond 3 to 5 sentences (i.e., short succinct answers are preferred).
a. A firm’s marginal rate of technical substitution captures the firm’s willingness to trade capital for labour, but not the degree to which capital and labour are substitutes in supply. True or false? Explain your position.
b. A consumer in an exchange economy will always be better off at an allocation which is Pareto efficient than at an allocation which is not Pareto efficient. True or false? Explain your position.
Homework Answers
A. False
It is because MRTS also tells us by how much one unit of a factor has to be reduced so that the productivity remains the same by increasing another factor of production.
B. True
In pareto optimality if a person changes his position he will be worse off. Thus if a person is at a pareto optimal position he will be better off.
Add Answer to:
True or false. Your answer to each question should not extend
beyond 3 to 5 sentences...
Are the following statements true, false, or uncertain? Explain your answer (c) If there are no...
Are the following statements true, false, or uncertain? Explain
your answer
(c) If there are no firms, only individuals trading with one another (an exchange economy), and everyone has the same marginal rate of substitution, then the allocation of resources is Pareto efficient. (d) Consider two social welfare functions, SWFA - U 2U2 and SWF min (Ui, U2)
Indicate whether each statement is true or false and explain your response in about 4-5 sentences....
Indicate whether each statement is true or false and explain your response in about 4-5 sentences. The rise of China in the global economy in the last forty years represents a historically new event. In a Soviet-type economy, investment is primarily led by households. Mao established a command economy in 1949 to take advantage of China’s capital abundance. During the Mao era, people’s life expectancy and literacy rates improved. One of the reasons behind the adoption of the economic reforms...
Question 3 Which of the following statements is necessarily true if the inverse market supply curve is vertical in a co...
Question 3 Which of the following statements is necessarily true if the inverse market supply curve is vertical in a competitive market? (A) There exists no equilibrium in this market (B) The equilibrium in this market is not Pareto efficient (C) Supply is perfectly elastic (D) Consumers' surplus is negatively affected if the government taxes the good (E) Taxation of the good does not result in any deadweight loss Question 4 Which of the following statements about the technical rate...
Part I: True or False. If false, briefly explain your answer (2 points each). Answer all...
Part I: True or False. If false, briefly explain your answer (2 points each). Answer all five. 1. An intra industry trade index of 1 indicates that very little intra industry trade is taking place. 2. External economies of scale occurs when a firm's average costs fall as the total industry output rises Foreign Direct Investment includes the hiring of workers in foreign countries as well as purchase of equipment and software. Quotas are generally preferred to tariffs because they...
True/False. Each question is worth 1 point. Circle your answer 1. If an organization decides to...
True/False. Each question is worth 1 point. Circle your answer 1. If an organization decides to compete on costs, and hires low-cost labor, it needs to have a decentralized structure to enable autonomy in decision-making by the workers. TRUE/FALSE 2 In a two-way linkage, an organization is restricted from considering the human resource issues while formulating its strategic plan. TRUE/FALSE 3 An advantage of employing temporary workers is that it frees a firm from many of the administrative tasks and...
2. (18 points) State whether each of the following statement is TRUE OR FALSE, and then briefly explain your answers (th...
2. (18 points) State whether each of the following statement is TRUE OR FALSE, and then briefly explain your answers (the explanation is what counts). 2.1. If the Fed lowers discount rate, it will shift LM curve to the right because it increases money demand. 2.2. When an economy is in the liquidity trap, neither monetary policy nor fiscal policy is effective in getting the economy out of recession. 2.3. Money demand is related to the functions performed by money....
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. Write down only the question number and next to the number either True or False. 2.1 A change in the size of the population due to a change in birth or death rates will not shift the market supply labour curve. Normal profit...
Q...Multiple choice question::::: Answer the question asap.. True/False (2 points each) true (T) or false (F)....
Q...Multiple choice question:::::
Answer the question asap..
True/False (2 points each) true (T) or false (F). Write your answer on the line provided.. 1. Product design has a tremendous impact on the quality of a manufactured good or service. 2. The service sector accounts for over 80 percent of employment in the United States 3. A process is a group of unrelated tasks with specific inputs and outputs. 4. A product's reliability is a function of the reliabilities of its...
State True, False or Uncertain, and then defend your position. Your answer to each question should be limited within about 150 words. 10 points) The only way to have continual improvements in the mate...
State True, False or Uncertain, and then defend your position. Your answer to each question should be limited within about 150 words. 10 points) The only way to have continual improvements in the material economic well-being of a society in the long run is to increase labor productivity.
Part A (Worth 60%) 1. Answer four of the following- each question carries equal weight. In...
Part A (Worth 60%) 1. Answer four of the following- each question carries equal weight. In each case answer True, False or Uncertain and explain your answer. Limit each answer to one page (a) A firm has a production function in which the marginal product of capital does not depend on the amount of labour used. Based only on the information provided then Q-K+L, where Q is output, K is capital and L is labour would be a valid representation...
Are the following statements true, false, or uncertain? Explain
your answer
(c) If there are no firms, only individuals trading with one another (an exchange economy), and everyone has the same marginal rate of substitution, then the allocation of resources is Pareto efficient. (d) Consider two social welfare functions, SWFA - U 2U2 and SWF min (Ui, U2)
Question 3 Which of the following statements is necessarily true if the inverse market supply curve is vertical in a competitive market? (A) There exists no equilibrium in this market (B) The equilibrium in this market is not Pareto efficient (C) Supply is perfectly elastic (D) Consumers' surplus is negatively affected if the government taxes the good (E) Taxation of the good does not result in any deadweight loss Question 4 Which of the following statements about the technical rate...
Part I: True or False. If false, briefly explain your answer (2 points each). Answer all five. 1. An intra industry trade index of 1 indicates that very little intra industry trade is taking place. 2. External economies of scale occurs when a firm's average costs fall as the total industry output rises Foreign Direct Investment includes the hiring of workers in foreign countries as well as purchase of equipment and software. Quotas are generally preferred to tariffs because they...
True/False. Each question is worth 1 point. Circle your answer 1. If an organization decides to compete on costs, and hires low-cost labor, it needs to have a decentralized structure to enable autonomy in decision-making by the workers. TRUE/FALSE 2 In a two-way linkage, an organization is restricted from considering the human resource issues while formulating its strategic plan. TRUE/FALSE 3 An advantage of employing temporary workers is that it frees a firm from many of the administrative tasks and...
Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. Write down only the question number and next to the number either True or False. 2.1 A change in the size of the population due to a change in birth or death rates will not shift the market supply labour curve. Normal profit...
Q...Multiple choice question:::::
Answer the question asap..
True/False (2 points each) true (T) or false (F). Write your answer on the line provided.. 1. Product design has a tremendous impact on the quality of a manufactured good or service. 2. The service sector accounts for over 80 percent of employment in the United States 3. A process is a group of unrelated tasks with specific inputs and outputs. 4. A product's reliability is a function of the reliabilities of its...
Part A (Worth 60%) 1. Answer four of the following- each question carries equal weight. In each case answer True, False or Uncertain and explain your answer. Limit each answer to one page (a) A firm has a production function in which the marginal product of capital does not depend on the amount of labour used. Based only on the information provided then Q-K+L, where Q is output, K is capital and L is labour would be a valid representation...
Most questions answered within 3 hours.
-
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 2 minutes ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 1 hour ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 2 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 2 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 2 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 3 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 3 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 3 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 3 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 3 hours ago -
Why are polymers not typically casted into products?
asked 4 hours ago -
When rolling a die 129 times, what is the probability of rolling
a 6 no more...
asked 4 hours ago