Suppose that the firm you are working for has given you the following table (K is the level of capital, and L is the level of labor employed by the firm; Q is the output produced by the firm; P is the price of the product the firm is producing; wage is the unit cost of labor): K L Q 10 12 210 MPL APL P 5 - Wage 50

Q: What does VAT mean

A: Value added tax is imposed on the goods during the value addition of the goods.

Q: Discuss Israf and Tabzeer in detail

A: Consumerism takes place when human focuses more on his wants than his needs.  It can be seen as a…

Q: Write brief notes on the following indicating their usefulness on information work ; Primary…

A: Economics is the study of that branch where individuals, governments, businesses and the societies…

Q: Do you believe that we can forecast future events?

A: Forecasting is a technique that uses historical data as inputs to make informed estimates that are…

Q: current rate of inflation using PCE

A: Rate of inflation = Percentage change in the PCE index.

Q: what citizens can do if they expect inflation will decrease next year

A: Inflation would be a rise in the aggregate price level. The inflation is a burden on the economy as…

Q: What are the impacts of inflation for borrowers and savers

A: The impact of inflation on borrowers: It permits the borrowers to pay back the money, whose value…

Q: What is the GSS?

A: The National Opinion Research Center regularly and continuously interviews U.S. households that is…

Q: What is inflation tax?

A: Inflation Tax – The inflation tax is the financial loss of value suffered by holders and fixed…

Q: How does Worker-Tracking Wristband affect worker productivity?

A: How much output can be generated with a given set of inputs is referred to as productivity in…

Q: What is private income

A: Domestic income has to segments, firstly it includes the value of income from domestic product…

Q: Saving is that part of income which is not consumed.  True/False

A: # income can be broken into two parts where one part is consumption and one part is Savings.

Q: How does inflation impact consumers, savers, and borrowers?

A: Title: Exploring the Fundamental Principles of Inflation and Its Economic ImpactIn this underlying…

Q: Explain IMF IN DETAIL

A: IMF stands for International Monetary Fund.

Q: How might deflation set off further delation

A: A deflationary spiral can be defined as a "downward price reaction to an economic crisis leading to…

Q: What was the maximum change in GSP from the government spending

A: Keynesianism has made strides in its ability to solve economic downturns by government intervention,…

Q: What is NPA?

A: Assets:  The term asset refers to the economic value of goods that are owned by the firm or the…

Q: What are the different types of investmen

A: Investment is the new expenditure on physical assets such as machines, buildings, tools and…

Q: How to analyze the rate of interest?

A: The interest rate is the percentage of the amount paid by the borrower to the lender in a given…

Q: Why is it important to begin saving for the future at a young age? o to make it so you can blow all…

A: Savings is that part of income which is not consumed and kept aside for use in the future.

Q: What is effective disposable income?

A: Effective Disposable income is the net income available to the consumer after income taxes.…

Q: what is the contribution of money to our financial needs

A: Currently money is used all over the world. Money is important all around the world. Currency is…

Q: Why are Americans planning on cutting back on spending through the holiday

A: It can be described as the network of an organization that involves the production activities,…

Q: What is the use of inflation-adjusted figures?

A: Inflation is the cost of goods and services rising across the economy. Because inflation is not a…

Q: Government-imposed taxes cause reductions in the activity that is being taxed, which has important…

A: There are many sub-parts of the question. As per honor code, we can only provide solution of first…

Q: What is the relation between income and life expectancies?

A: The relationship between income and life expectancies can be best explained with the help of the…

Q: Calculate the value of APS if Savings is $320 million and income is $420 million

A: The information being given to us is as follows:- Savings = $320 million Income = $420 million We…

Q: How is a firm's net income important?

A: Net income is earned by the company or individual after deducting expenses and taxes. It is also…

Q: What are the key taxes levied which can be collected by state, territory, and local government in…

A: There are the key taxes levied by which can be collected by the state government in Australia that…

Q: What are the factors used to measure economic well being?

A: The economics is derived from the GREEK word OKIONOMIA meaning management of household. It give the…

Q: In India what are the goods or services which do not comes under GST

A: GST stands for Goods and service taxes, in India it is effective from 1 July 2017. There are five…

Q: why is Universal Basic Income not inflationary?

A: Inflation is the rate at which prices rise over a given time period. Inflation is typically defined…

Q: What is the meaning of Net Present Worth?

A: The net present worth also known as the net present value calculated the difference between the…

Q: Does the Broader Diversification reduce the rate?

A: Yield: The term yield refers to the revenue or profit that is generated. For instance, the initial…

Q: What is the differences between men and women in terms of life expectancy in Spain?

A: Life expectancy is the measurement of duration of life based on the birth year. This can be…

Q: What is the Inflation factor?

A: Inflation is the abnormal increase in the general price level of the economy. When there is…

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.