What is the response in a firm’s labour demand to a fall in the price of capital? How might such a change in the price of capital impact low and high skilled workers? Illustrate your answer with diagrams and / or a model.

Q: Which of the following does NOT explain differences in tota factor productivity Ā? (Hint: remember…

A: The factor of Production: The factor of production refers to the inputs that are utilized. There are…

Q: what is a labour related theory

A: Why one had to look at the sphere of production? As per Karl Marx version of economics, People…

Q: Describe the impact on labor wages of physical capital-intensive manufacturing. That is how do…

A: Capital Intensive Manufacturing refers to a high level of investment in Capital i.e., Machinery,…

Q: In the context of a perfectly competitive model of the labour market, an increase in technology that…

A: A vibrant workforce is a prerequisite for the economy to thrive. It generates employment…

Q: What is the marginal cost of capital?

A: Marginal cost denotes an addition to the total cost that incurred in the process of producing an…

Q: EXPLAIN the reason of increasing returns to a factor

A: # The increasing returns to a factor is the first phase of law of variable proportion. It is…

Q: Explain what happens in the labour market when the industry requires an occupational license before…

A: The place where workers and employers interact is called a labour market. The supply and demand for…

Q: explain the importance of production function and how can we enhance the productivity of a factor.

A: The production function is the mathematical function that shows the relationship between the input…

Q: Which type of worker would earn the high income but has lesser marginal productivity?     a.Fashion…

A: At the marketplace, it can be seen that different occupation provide different range of income to…

Q: Analyze the effects of an increase in both wage rates and labor productivity on the costs of the…

A: Increase in wage rate will increase the burden on firm.

Q: A job is a contract between a OA. bank; household; capital OB. manufacturer; retailer;…

A: The different factors of production include capital, land, labour, and entrepreneurs. These are…

Q: What is q group of workers

A: workers are the employees working for an organization.

Q: Give some examples of direct labor?

A: Direct laborers are the individuals and staff who produce the company’s products and provide…

Q: What is the response in a firm’s labour demand to a fall in the price of capital? How might such a…

A: The markets are the place where the buyers, or the consumers of goods and services tend to interact…

Q: 02. Why does a profit-maximizing firm hire workers up to the point where the wage equals the value…

A: Profit maximisation is the goal of all reasonable businesses. This is due to the fact that earnings…

Q: Which of the following explains the slope of the demand curve for labor? a. the marginal…

A: Law of diminishing marginal productivity states that the marginal production from the additional…

Q: Why does a fall in price of capital leads to increase in demand for labor?

A: The relationship between the price of capital and the demand for labor is a crucial aspect of…

Q: 66. Which of the following input factor takes risk, innovates and coordinates А. О Сapital B. O…

A: Option D Entrepreneur takes risk in business by allocating his capital and time, does innovation and…

Q: What is the difference between labor and human capital? How can human capital be increased?

A: A firm undertakes production for the purpose of earning profits. Production is made possible by the…

Q: how changes in productivity influence the demand for labor.

A: In a market, labor is one of the important input resources that is used to generate or produce…

Q: Define the term, "human capital."

A: We all know that better education, advance training, skills and expertise gained through…

Q: . A firm’s decision about how many workers to hire.

A: A firm's decision about how many workers to hire depends on the amount of output that it wants to…

Q: Economic   As I hire more and more workers – one, two, then three – what happens to the marginal…

A: The marginal product of labor (MPL) is a concept in economics that refers to the additional output…

Q: What impact does technological change have on employment?

A: Technology refers to the process that a firm used to turn inputs into outputs of goods and services.…

Q: Marginal Produt and Resources How would you determine the demand for a factor of production? What…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Explain labour demand in short with a diagram

A: In economics, demand is the term that is used to define the need/requirement of a product or a…