Refer to the given data, symbols, and assumptions. At the current wage rate, the combined number of workers in the two nations is:
Symbols: Q = number of workers demanded; W = wage rate; and VTP = value of the
cumulative total product (output) of the particular number of workers.
Assumptions: (1) The current wage in Zinnia is $20 and the current wage in Marigold is $12; (2) full employment exists in both countries.
A. 2.
B. 3.
C. 5.
D. 4.
D. 4.
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A firm estimates its long-run production function to beQ = -0.0075K3L3 + 12K2L2Suppose the firm employs 12 units of capital. At ________ units of labor, average product of labor begins to diminish.
A. 32.21 B. 76.66 C. 82.27 D. 66.67 E. 44.44
The regional Federal Reserve bank presidents are:
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