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Describe the ways in which gendered divisions of labor contribute to capitalist accumulation
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- 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 how intertemporal substitution is important for current labour supply and for the current demand for consumption goods.Q35 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau's product sells for $3 per unit, and the wage rate is $13 per worker. What is Justin Trudeau's profit-maximizing output? Multiple Choice 16. 40 37 20 32
- Q49 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. The farmer's product sells for $3 per unit, and the wage rate is $13 per worker. The marginal revenue product of the second worker is Multiple Choice $9 $15 $24 $8 $14.Discuss how total earnings are determined for both piece-rate and time-rate workersWe can combine the models we have seen so far to explain both real GDP and the price level in the long run. Real GDP is determined according to the production model, which is summarized in Table 4.1 of your textbook where the aggregate production function is Cobb-Douglas with labor share equal to 2/3. The price level is obtained from the quantity theory, which is summarized in Table 8.3 of your textbook. The nominal wage (in dollars) is the product of the real wage and the price level. (i) Express the equilibrium real wage as a function of the capital stock, labor force, and TFP. Express the equilibrium nominal wage as a function of the money supply, velocity of money, and labor force. Suppose TFP increases. What happens to the real and nominal wages? Suppose the money supply increases. What happens to the real and nominal wages? Your answers must be detailed and you must provide the different steps leading to your conclusions. (ii) (iii)
- "The more easily firms can substitute labor for capital, the greater the inefficiency of minimum wage laws." Defend this statement using supply and demand analysis. You do need a graph for full credit. Please solve ASAP!!! Will upvote! Really need to see the graphing explanationAssuming labor is the only variable factor and paid at a constant wage rate ? show that the average variable cost (AVC) is inversely related to productivity?Explain how changes in technology affect and change the demand for labor. Distinguish between situations in which a particular type of technological change increases the demand for a particular type of labor and those in which it decreases the demand for a particular type of labor.
- Q33 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital and finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau product sells for $3 per unit, and the wage rate is $13 per worker. The marginal product of the second worker is Multiple Choice 32 14. 8 1 5What are some implications of institutional void to MNCs?What best characterizes the relationship between wage labor and capital? a) Capital produces wage labor b) wage labor is a trashisorical form of labor c) wage labor produces capital and reproduce itself. d) wage labor created an accumulation of resources for workers.