discuss in detail four features of the traditional and continuing features of the Japanese economy : Inside the J-Firm Workers within J-Firm Labor Market and the J-Firm J-Firms and the Keiretsu system
Q: onsider the following information regarding PriorityShoes, the athletic shoe company that has…
A: Profit maximization alludes to the methodology or objective of a firm to accomplish the most…
Q: A clothing company can use one of the following four production processes to produce 5,000 garments…
A: In a market, when a firm produces output, it needs to choose from various alternatives that are…
Q: For the production function y = 4x1+ 3x2, which of the two inputs is more productive when x1 is 10…
A: y = 4x1 + 3x2 Differentiate y w.r.t x1 to get the marginal product of x1 =>MP1 = dy / dx1 =>…
Q: Wenatchee is the apple capital of the world (or at least that's what the sign says). One of the…
A: a. Oranges are being produced in Florida which is being damaged because of the hurricane that came…
Q: Briefly explain what is meant by: 1) account profit; 2) economic profit; and 3) zero economic…
A: 1. Accounting Profit: The accounting profit refers to the profit that comes after subtracting the…
Q: What do we assume to be the goal a typical firm in the production model pursues? A. Maximized…
A: A market consists of many firms and consumers. Firms are supplier of goods and services. Consumers…
Q: Explain the meaning of the terms push manufacturing and pull manufacturing.
A: The business organizations have several activities and events that might involve in considerable…
Q: Case Study: Consider the following producer theory model for a single firm producing oil, and the…
A: Business economics entails navigating complex market situations, which necessitates extensive study…
Q: capital and $162 million on materials. The firm's factory sits on land owned by the firm that could…
A: An economic profit is the difference between the revenue a commercial entity has received from its…
Q: Suppose that the price of capital decreases. Explain how the firm adjusts its use of capital and…
A: We will answer this question by assuming that the firm have the cobb-Douglas production function…
Q: QUESTION 4 he way a firm combines its resources to get the maximum output is called: O the…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Explain with the help of Graphs of Total Product (TP) and Marginal product (MP) the three laws of…
A: The law of variable proportions says that as we increase the variable input, the total output first…
Q: What is the relationship between economies of scale and intra-industry trade? Group of answer…
A: In a market, intra-industry trade refers to the exchange of similar products belonging to the same…
Q: Draw the Edgeworth box diagram for cocoa and coffee. Label the point where both commodities cross…
A: Edgeworth Box Diagram: An Edgeworth box is the graphical representation of a market wherein there…
Q: 12. Discuss how the interdependence of input markets for labor, capital, and land might affect…
A: The price of labour is the wage rate and this wage rate is determined with the help of demand and…
Q: Suppose tuition at your university were to increase 10 percent. What would the short-run response…
A: If tuition at a university were to increase via 10 percent, the short-run and long-run responses, as…
Q: The following production grid shows the relationship between Capital and Labor inputs and the output…
A: ISO-Quant: Iso -Quant shows different combinations of capital and labour such that each combination…
Q: MC ATC AVC AFC 40 70 80 90 Quantity Costs
A: Diminishing returns begin where MC curve starts rising or MP curve starts to fall. Most productive…
Q: The graph presented shows the initial output level, identify the expansion path? In a fixed…
A: The expansion path refers to the trajectory or path along which a firm or producer expands its…
Q: he set of feasible netputs is Y = {(₁, ₂) € R²: 11 ≤0, and 2₂ ≤ √√-₁}. As a function of p > 0, give…
A: Production function : Y = f (x1 , x2 ) Let the input price of 'x1' be (w1) . Input price of 'x2'…
Q: In a single diagram. Illustrate AVC and ATC. Explain why the two curves get closer to each other as…
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural…
A: Given, The economy of the United States is divided into four segments. (1) livestock and livestock…
Q: 2. Thor runs a business called Heavy Hammers, which produces some of the heaviest hammers you’ve…
A: Since you have posted a question with multiple sub-parts, we will provide the solution to only the…
Q: Suppose that the XYZ Corp. (which is a profit-maximizing enterprise) produces “gadgets” according to…
A:
Q: Consider Live Happley Fields, a small player in the strawberry business whose production has no…
A: Consider Live happley ,a small player in the strawberry business whose production has no individual…
Q: Suppose that you own a 20-acre plot of land that you would like to rent out to wheat farmers. For…
A: Profits are the excess of revenue receipts over the costs incurred by the firm due to the production…
Q: Answer the question based on the following information: Suppose 30 units of product A can be…
A: A technological relation is used in the production produced by the input and output. It expresses…
Q: A breeder tells you he has determined for each 1-lb increase in weaning weight profit increases by…
A: GIVEN A breeder tells you he has determined for each 1-1b increase in weaning weight profit…
Q: hich of the following statements are true? A basic assumption of the theory of production is that:…
A: The process of the combination of various material and immaterial inputs into output for the purpose…
Q: Figure 11-13 Capital (units) 24 20 16 Select one: 10 Refer to Figure 11-13. The lines shown in the…
A: ISO-COST: ISO-COST shows different combinations of capital and labor such that each combination…
Q: About 1.2 million additional advanced robots are expected to be deployed in the U.S. by 2025, Boston…
A: The first cost, anual cost, salvage value, life years for the Robot X and Robot Y is given as…
Q: The table below provides information about the cost of inputs and value of output for the production…
A: To calculate the value added at each stage of production and the total contribution of the bike to…
Q: What does a firm’s LRAC curve show? How is it related to the firm’s short-run ATC curves?
A: In economics, average costs are calculated by dividing the entire cost of production by the quantity…
Q: A study of the economic impact of the wine industry in New York was released in September 2017 by…
A: Economic impact: It is the economy's response to an initial change (direct effect) by reinvesting…
Q: Number of Workers Number of Units of Capital Total Product (Quantity) 0 5 0 1 5 1 2 5 5 3 7 4 5 10…
A: Variable cost is the cost that changes with the change in the level of output produced. For example,…
Q: The Return of Detroit City: Enpar manufactures engine parts for Ford using steel as an input. Enpar…
A: The technological relationship between factors of production, such as labor, capital, and raw…
Q: 600 2100 2500 2600…
A: Capital is a fixed factor. A fixed amount is assumed to be invested, the interest on which is 10%…
Q: Suppose Yamahonda, a Japanese-owned motorcycle manufacturer, builds a production plant in Alabama.
A: Suppose Yamahonda, a Japanese-owned motorcycle manufacturer, builds a production plant in Alabama.…
Q: Fill in the missing parts in the following tables to illustrate the behavior of production and costs…
A: The total cost incurred by firms includes fixed costs and variable costs. Fixed costs are the costs…
Q: Between 1979 and 2014 manufacturing employment in the United States O a) fell by almost 50%. b) fell…
A: Manufacturing employment refers to the employment in economy's manufacturing sector. we have been…
Q: “Short-Run Production Theory is the mirror opposite of Short-Run Cost Theory,” Is this statement…
A: Answer -
Q: Explain the absence of economic profit in a purely competitive, static economy. Realizing that the…
A: In a purely competitive economy, there are large number of buyers and sellers and each firm sells…
Q: In our paper airplane company, some inputs were fixed and some were variable. Match the input to…
A: When talking about fixed or variable inputs it can be said that any input whose quantity changes…
Q: Which situation represents the long run?
A: In situation (i) both the input are variable and in situation (ii) input 1 is variable and input 2…
Q: The LEGO Architecture Collection includes three items: the White House Model Building Kit (at $80…
A: TC(Total cost) is the amount of expenditure occurred on the production of goods and services. The…
Q: FIGURE 2-13 Product Markets Households Firms Factor Markets Refer to Figure 2-13. Which of the…
A: The circular flow of income model depicts how income flows between economic entities in an economy.
Q: Discussion: What are the implications when a firm is out of the equi-marginal point? Focus your…
A: One of the most often utilized principles in managerial economics is the Equi marginal principle.…
discuss in detail four features of the traditional and continuing features of the Japanese economy :
Inside the J-Firm
Workers within J-Firm
Labor Market and the J-Firm
J-Firms and the Keiretsu system
![](/static/compass_v2/shared-icons/check-mark.png)
The Japanese economy is renowned for its unique characteristics and cultural values, which have contributed to its success and stability over the years.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- what numbers from the chart would i use from the chart listed to plot a short run production curve in excel. Then list the numbers i would use from the chart to plot a short run marginal production curve in excel sheet. Please do not list formulas. please only numbers from the chart.In 2005 General Motors (GM) announced that it would reduce employment by 30,000 workers. What does this decision reveal about how it viewed its marginal revenue product (MRP) and marginal resource cost (MRC)? Why didn’t GM reduce employment by more than 30,000 workers? By fewer than 30,000 workers?Economics Modify the Lewis model and assume that there is a strictly positive marginal product of labor in the traditional sector. Use figures with production functions in the traditional and the modern sectors to show what the equilibrium is when no one wants to move away from agriculture. What assumptions do you have to make about production functions to arrive at the conclusion that fewer people will end up in agriculture? Use the same starting point as in the above question. Derive the demand for labor in the traditional and in the modern sectors. Show graphically what the characteristics of the equilibrium would look like when no one wants to change sectors.
- explain briefly 3 significant business objectives. analyse the extent to which the use of labour contributes to the achievement of the business objectivesSuppose that the demand for loanable funds for car loans in the Milwaukee area is $12 million per month at an interest rate of 10 percent per year, $13 million at an interest rate of 9 percent per year, $14 million at an interest rate of 8 percent per year, and so on. If the supply of loanable funds is fixed at $16 million, what will be the equilibrium interest rate? Instructions: Enter your answer as a whole number. * percent per year3. Production: a. State the decision rules used for finding the optimal amount of input(s) in both short-run and long-run production” b. Using your own words, explain the rationale behind each stated rule as if you were explaining them to someone who has not yet completed: c. The Demand for Labor is the visualization of what important short-run production concept, and what would shift this demand curve to the right? d. Use your answer above to explain why some worker (labor) earn much more than others, and why some workers are at a risk of losing their jobs to machines (capital). e. Explain why a Cobb-Douglas production function such as Q = LaKb s much more realistic than production functions such as Q = aL + bK
- 4. At Alan's landscaping firm, labor is fixed in the short run. Increasing his use of capital always leads to additional output and his production function exhibits both increasing and diminishing marginal returns to capital at different points. Using a two-panel diagram, sketch the marginal, average, and total product of canital at Alan's firm. Your diagram does not need to be to scale, but must be internally consistent and consistent with both the information given and economic theory. Explain your diagram and the relationship between the different curves.Use the diagram below to answer the questions that follow. Capital (machine hours) 6 A 10 10 15 Labor (hours) Capital (machine houn) What do the diagrams above illustrate? 10 10 B Labor (hours) decreasing returns to scale and B constant returns to scale constant returns to scale and B increasing returns to scale increasing returns to scale and B constant returns to scale increasing returns to scale and B decreasing returns to scaleWhat is meant by technological advance, as broadly defined? How does technological advance enter into the definition of the very long run? Which of the following are examples of technological advance, and which are not: an improved production process; entry of a fifirm into a profifi table purely competitive industry; the imitation of a new production process by another fifirm; an increase in a fifi rm’s advertising expenditures?
- An economy can produce leather using labor and capital and wheat using labor and land. The total supply of labor is 50 units. Given the supply of capital, the outputs of the two goods depend on labor input as follows: Labor Input to Leatheroutput of LeatherLabor Input of WheatOutput of Wheat 27 5 19.8 10 38.5 10 31.2 15 47.3 15 42.3 20 56 20 52.1 25 65.7 25 60.6 30 74.5 30 69 35 82.4 35 77.4 40 88.2 40 85.4 45 94.1 45 93.9 50 100 50 100 a. Graph the production functions for leather and wheat. b. Graph the production possibility frontier. What will happen if more labor is employed?Suppose that you own a 20-acre plot of land that you would like to rent out to wheat farmers. For them, bringing in a harvest involves $30 per acre for seed, $80 per acre for fertilizer, and $70 per acre for equipment rentals and labor. With these inputs, the land will yield 40 bushels of wheat per acre. Instructions: Enter your answers as a whole number. a. If the price at which wheat can be sold is $6 per bushel and if farmers want to earn a normal profit of $10 per acre, what is the most that any farmer would pay to rent your 20 acres? $ b. What price would the farmer pay to rent your 20 acres if the price of wheat rises to $7 per bushel?What does rational choice in econ? What are some of the pros and cons of using this concept in economics? what is the law diminishing marginal returns ? why or how is this relevant for our discussion of firm behavior in the short run
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)