Q 1 2 3 4 DA) 4. O □gs. The B) 3. Zinnia W D) 2. $20 18 16 14 VTP $20 38 54 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. At the current wage rate, the combined number of workers in the two nations is 68 Q 1 2 3 4 Marigold W $16 14 12 10 VTP $16 30 42 52

Q 1 2 3 4 DA) 4. O □gs. The B) 3. Zinnia W D) 2. $20 18 16 14 VTP $20 38 54 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. At the current wage rate, the combined number of workers in the two nations is 68 Q 1 2 3 4 Marigold W $16 14 12 10 VTP $16 30 42 52

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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