4. Suppose the input coefficients matrix is:(0.4 0.2 0.2A = 00.1 00.3 0.3(1)Find (1-A) 1.(i1)Suppose labour is the sole primary input vector. Identify thedirect and indirect effects on the value of employmentfollowing a1 unit drop in final demand for the thirdproduct.What is the employment multiplier?(ii)How is your answer to (ii) altered if in fact only half the(iv)payments to primary inputs are spent on labour?Suppose in fact that for every £ paid to primary inputs in(v)sector 1, only half is paid to labour and in sector 2 none ispaid to labour while in sector 3 all payments to primaryinputs go to labour. How is your answer to (ii) altered now?How is your answer to (ili) altered? (Hint: think about howthe labour; instead of all primary inputs, vector will looknow).

(Note: Since there are multiple parts, only the first three have been solved). An economist named…

4. Suppose the input coefficients matrix is: (0.4 0.2 0.2 A = 0 0.1 0.3 0.3 Find (I-A)-1. (1) Suppose labour is the sole primary input vector. Identify the direct and indirect effects on the value of employment following a1 unit drop in final demand for the third product. What is the employment multiplier? (1i) (i)

4. Suppose the input coefficients matrix is: (0.4 0.2 0.2 A = 0 0.1 0.3 0.3 Find (I-A)-1. (1) Suppose labour is the sole primary input vector. Identify the direct and indirect effects on the value of employment following a1 unit drop in final demand for the third product. What is the employment multiplier? (1i) (i)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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8. The law of diminishing marginal product holds that as a variable input increases while other inputs are fixed, ______.a. eventually the fixed inputs will increase at a rate equal to or below the variable increasesb. labor demanded will be high at both very low and very high outputs creating a U-shaped curvec. the marginal revenue product will eventually cause the labor demand curve to turn upwardd. at some point the increase will lose its effectiveness, and additions to output will decline
Wage ($) 12 NA9%E5 10 8 6 4 2 Desired Employment 0 5 10 15 20 25 a. Draw the labor demand curve b. Write the equation for the labor demand curve where wages are a function of employment levels c. Write the equation of the dead curve where employment is a function of wages.
● Suppose government mandates required firms to make 'safety expenditures' on behalf of workers that did not improve labor productivity. Describe the scale and substitution effects these mandates would have in the labor market.
Consider the following production function: Assume capital is fixed at K = 25. At what level of employment does the marginal product of labor equal zero? The marginal product of labor equals zero when L= q=48LK+20L2 3 (3) ₁³. (Enter a numeric response using an integer.)
Give me correct answer with proper calculation otherwise i give downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
prove that dMRTS/dL<0 when FKL > 0 where MRTS =MPL/MPK MPL= marginal product of labor MPK - marginal product of capital
5. A company that produces auto parts has a production function of Q = 300 L-75 K-5. %3D If L= 250 and K= 25, what is the output of auto parts? If L increases to 350, what is the output of auto parts? What does the change in output show regarding labor as a factor of production?
Please give me proper calculation and full explanation otherwose i give multiple downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
4) If the marginal product of capital MPK > r, where r is the market rental rate for capital, the firm A. Should hire more capital until MPK = r. B. Should hire more labor until MPK = r. C. Should hire more labor until MPK = 0. D. Should fire more capital until MPK = r. %3D 5) Figure 1 below shows the dynamics of per-capita GDP for six countries in ratio scale from 1870 to 2010. From the Figure we learn that the level of per capita GDP A. Has almost doubled for the US from 1880 to 2020 B. Was higher in the U.S. compared to the UK in 1880 C. Was higher in China compared to Argentina in 2000. D. Increased by approximately 5 times in Japan from 1950 to 1970. Answer 64,000 U.S. 32,000 16,000 Argentina 8,000 U.K. 4,000 Japan 2,000 S. Africa China 1,000 1880 1900 1920 1940 1960 1980 2000 2020