anny93

Two cubes have their faces painted either red or blue. The first cube has five red faces and  one blue face. When the two cubes are rolled simultaneously, the probability that the two top  faces show the same colour is 1/2. Number of red faces on the second cube, is 

5. We would expect that a fall in the labor supply will have a proportionately smaller effect on the market wage rate when:

a. workers can easily be replaced by capital goods

b. the product is produced in a perfectly competitive industry

c. the product produced in the industry has very few substitutes

d. labor represents a relatively small portion of total costs

4. Suppose a new technology allows firms to substitute mechanical tomato pickers for farm laborers. As a result, the demand curve for farm laborers will:

a. become less elastic

b. become more elastic

c. shift to the right

d. not be affected

3. What does the marginal physical product equal when the amount of labor goes from 10 to 11?

Labor input (workers/day)_____ total physical product (output/day)

10 ________________________500

11_________________________600

12________________________ 690

13 ________________________760

14 ________________________800

a. 54.5

b. 100

c. 600

d. 500

1. A farm's marginal factor cost describes:

a. the change in total foxed cost that reseults from hiring one more unit of input

b. the increase in the firm's total revenue as one more unit of output is sold

c. the change in total variable cost that results from th production of an extra unit of output

d. the change in total cost that results from using one more unit of an input

1. The addition to the revenue obtained from firing an additional unit of labour is:

a. marginal revenue product

b. marginal physical product of labour

c.total product

d. marginal factor cost

2. The firm's demand curve for labour is:

a. the demand curve for the good produced divided by the price of the good

b.the marginal revenue product curve for labour

c.the marginal physical product curve for labour divided by the good

d. the marginal physical product curve for labour multiplied by the price of labour

3. If the price of the product is $1.50 and the marginal factor cost of an additional unit of input is $105, how many units of labour should be hired?

Labor input (workers/day)_______________________________-total physical product (output/day)

10 __________________________________________________500

11__________________________________________________600

12__________________________________________________690

13___________________________________________________760

14___________________________________________________800

a. 14

b.12

c.13

d.11

4. the price elasticity of demand for labour equals

a. the change in quantity demanded of labour divided by the change in the price of labour

b. the slope of the demand curve for labour

c. the percentage change in the price of labour divided by the percentage change in the supply of labour

d. the per cent change in the quantity demanded of labour divided by the percentage change in the price of labour

5. We would expect that a rise in labour supply will have a proportionately larger effect on the market wage rate when:

a. the supply for labour is elastic

b.the demand for labour is unitary elastic

c.the demand for labour is elastic

d.the demand for labour is inelastic

If the total output of candles in Nicks Wicks shop increases from 20 per hour to 30 per hour as he hires the second worker, then

a) the marginal product of the second worker is 20 candles.

b) the marginal product of the second worker is 30 candles.

c) if the price of each candle is $2, the marginal revenue product (MRP) of the second worker is $20. 

d) if the price of each candle is $2, the marginal revenue product (MRP) of the second worker is $30.

A purely competitive firm faces the marginal product schedule shown in the table below. The price of the product is $25 and the wage rate is $300 per worker.

Calculate the marginal revenue product and complete the table. (Enter your responses as whole numbers.)

The firm should hire

A. 14 workers

B. 11 workers

C. 13 workers

D. 15 workers

17. All of the following can raise union member wages except:

a. limiting union membership over time

b. increasing the demand for non-union made goods

c. increasing the productivity of union workers

d. increasing the demand for union-made goods

12. If a firm wants to maximize its profits, it should

a. equates the marginal revenue product for each input to the price of the input

b.hire unskilled labour rather than skilled labour since unskilled labour is cheaper

c. hire lots of capital and very little labour since labour needs to be trained

d. equate the marginal physical product for each input to the price of the input

10. A profit-maximizing monopolist will hire labour up to the point where

a. marginal revenue equals than the wage rate.

b. marginal revenue product is greater than the wage rate.

c. marginal revenue equals the price of the product.

d. marginal revenue product is less than the wage rate.

9. The practice of outsourcing has been given a boost by:

a. firms that are becoming more risk-averse.

b. advances in telecommunications and computer networking.

c. support from organized labour.

d.sharp increases in the cost of overseas labour.

8. Suppose firms in an industry hire unskilled labour and skilled labour. unskilled labour is a substitute for capital and skilled labour is a complement with capital. A decrease in the real price of capital would:

a. cause the demand for unskilled labour to increase and the demand for skilled labour to decrease. the wage of unskilled labour would rise relative to the wage of skilled labour

b. cause the demand for both kinds of labour to decrease. wages rates of both kinds of labour would decrease too.

c. cause the demand for labour to increase, raising wages of both skilled and unskilled labour.

d. cause the demand for unskilled labour to decrease and the demand for skilled labour to increase. the wage of unskilled labour would decrease relative to the wage of skilled labour.

1. Which of the following is correct regarding the impact of globalization on the Canadian market?

a) Due to global competition, the resulting change in product price will make the productivity of Canadian labour decrease.

b) The labour demand in the Canadian market will decrease.

c) If Canadian labour and foreign labour are close substitutes, cheaper foreign labour will lead to scale effects, which may increase the demand for Canadian labour and foreign labour.

d) If Canadian labour and foreign labour are complements, cheaper foreign labour will lead to scale effects, which may increase the demand for Canadian labour and foreign labour.

2. Which of the following is correct regarding the elasticity of labour demand?

a) If capital and labour are easily substitutable, the derived demand for labour will be inelastic.

b) If capital and labour are not easily substitutable, the derived demand for labour will be inelastic.

c) If the product demand is elastic, the derived demand for labour will be inelastic.

d) If the share of the labour costs in total costs is large, the derived demand for labour will be inelastic.

3. Which of the following facts are correct regarding international comparison of labour costs and productivity?

a) Canada's labour compensation costs are relatively high compared to other European countries.

b) Canada has relatively low productivity growth since the 1990s compared to many other countries.

c) Canada's unit labour costs fell from 2000 until 2008.

d) Canada's unit labour costs are lower than that of the United States.

The figures below give the production schedule and the product demand schedule for a firm, which has to decide how many workers to hire.

4. If the wage = $40 for the time period in question, then the number of workers hired is:

a) 2

b) 3

c) 4

d) 5

5. The primary reason why workers in the fast-food industry tend to be poorly paid is that:

a) The demand for the product that they produce is quite elastic, making the demand for labour wage elastic.

b) It is easy to substitute capital for labour in the industry, making the demand for labour wage elastic.

c) Labour costs comprise a large share of the employer's expenses, making the demand for labour wage inelastic.

d) These workers are seldom unionized.

6. Which of the following statements is false?

a) The quantity demanded for school teachers is equal to the quantity supplied in equilibrium.

b) The demand for school teachers is downward sloping because it is profitable for schools to hire more teachers when wages fall.

c) The demand for school teachers is likely to be wage inelastic.

d) The demand for school teachers is likely to rise when the government decides to cut funding to schools.

7. All of the following statements regarding the marginal product of labour are true except:

a) It is the slope of the total physical product of labour curve.

b) It is equal to the change in output divided by the change in labour input.

c) It eventually diminishes because the capital stock is fixed.

d) It is the increment to revenue obtained by hiring one more unit of a variable factor.

8. In the short run, the demand for labour for a firm is:

a) the marginal product of labour curve.

b) the downward sloping portion of the marginal revenue product curve.

c) upward sloping.

d) usually inelastic.

David Card argues that as unskilled immigrants move into the US, the US capitalists make more profit. The US capitalists reinvest the profit which increases US labor productivity in general. If labor productivity goes up, demand for US labor goes up, which, in turn, increases US wages of the unskilled workers. Is this really a trickle down” theory of wage increase due to higher profit? Will unskilled workers' wages necessarily increase under this scenario?

A local snowboard firm wants to produce 200 snowboards next month. The firm must hire more labor in order to produce at this level (Q=200), and is faced with the option of hiring either skilled or unskilled workers (denoted by S and U, respectively). Should the firm hire always hire the most skilled workers? Under what conditions would the firm hire unskilled workers? Under what conditions would the firm hire skilled workers? Please formally derive your conclusions.

Assume the following:

Production Function: Q=aS+U

Total Cost = W _sS +W_uU

W_s= wage of skilled workers

W_u= wage of unskilled workers

Now assume that W_s = 10, W_u = 8 and a = 2. Would the firm hire more skilled or unskilled workers? Explain.

What were the working and living conditions of the mass of unskilled workers in the town of Homestead in 1892?

A local snowboard firm wants to produce 200 snowboards next month. The firm must hire more labor in order to produce at this level (Q=200), and is faced with the option of hiring either skilled or unskilled workers (denoted by S and U, respectively). Should the firm hire always hire the most skilled workers? Under what conditions would the firm hire unskilled workers? Under what conditions would the firm hire skilled workers? Please formally derive your conclusions.

Assume the following:

Production Function: Q=aS+U

Total Cost = W _sS +W_uU

W_s= wage of skilled workers

W_u= wage of unskilled workers

Now assume that W_s = 10, W_u = 8 and a = 2. Would the firm hire more skilled or unskilled workers? Explain.

Explain how is the demand for labor determined. What would cause employers to hire less workers at the same wage rate?

WORKERS

1.Most people are consumers, making demand decisions in product markets, and also workers, making

supply decisions in resource markets. How do workers choose how much of their labor service they
are willing to sell? Is the quantity supplied likely to rise or fall when the wage rate is higher?

2. what are some techniques employers can use to improve workers productivity? Consider both carrots and sticks

HIRING MANAGER

1.Workers make the supply decisions in labor markets, but firms (represented by hiring managers)

Explain how is the demand for labor determined. What would cause employers to hire less workers at the same wage rate?

a) Explain where a firm's demand for labour comes from (how is the demand for labour determined).

b) Give three reasons why the demand for labour will decrease (hint: I am asking about the demand for labour and NOT the Quantity Demanded, which is the actual amount of workers being hired. In other words, what would cause employers to hire fewer workers at the same wage rate?).

Many factors determine the supply and demand for labour. Identify and explain two factors that would increase or decrease the demand for labour. Identify and explain two factors that would increase or decrease the supply of labour. Your answer should include a discussion on marginal revenue product. I believe it would be difficult to answer this question correctly without referring to that topic. One way to approach this question would be:

1. Define marginal revenue product, and then discuss how this can change. Then relate this to the change in demand for labour.

2. Explain the determinant of labour supply. Explain what might change one of these determinants.

When answering this question would be a good time to review the difference between a change in quantity demanded and a change in demand and the difference between a change in quantity supplied and a change in supply. Remember, wage rates[theprice to rent labour] will not affect either the supply or the demand for labour!

Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or decrease the supply of labor. Use the readings and/or the internet for examples.

Answer the following questions using examples and applications from the readings. Justify your answers using economic concepts and ideas as they apply. Each response should be between 100-200 words.

Questions:

The demand for labor is said to be a derived demand. What is the meaning of a derived demand? How does this concept help to determine the demand for labor?

What are some of the factors that determine the supply of labor in a market? What significant factors have changed the supply of labor over the last twenty years?

How does a firm determine its prices and the quantity of labor required in the resource market during a specific period?

Why do income inequalities exist? How are income inequalities measured? How have income inequalities changed from 1980 to the present?

What is the role of the U.S. government, in terms of dealing with the problem of income inequalities? What are the arguments, for and against, government involvement in this area?

Why do nations trade? What is meant by the concept of Comparative Advantage ? Could a nation be better off economically, if it practiced an isolation policy?

The United States has had a significant trade imbalance for several years. What are the problems associated with having a negative trade balance? What can be done to correct the imbalance?

How are exchange rates determined? What is the significance of currency devaluations to the home country? To other countries?

What are the problems associated with having a negative trade balance?

What are the major issues associated with leaving rates for as low as they've been left, for as long as we've done?

Discuss the major issues associated with globalization and migration.

Discuss the major issues which should be considered concerning e-commerce contract issues.

Discuss the ways in which the early years of e-commerce (1995-2000) can be considered both a success and a failure.

Discuss the ways in which the early years of ecommerce can be considered both a success and a failure?

Codeine (C18H21NO3) is derivative of morphine that is used as an analgesic, narcotic, or antitussive. It was once commonly used in cough syrups but is now available only by prescription because of its addictive properties. If the pH of a 1.7x10-3 M solution of codeine is 9.59, calculate Kb.

For the reaction o-toluidine hydrochloride salt + 10M NaOH --> o-toluidine + NaCl + H₂O, how do you calculate the pH value required to obtain 99% amine form? I believe the questions refers to the o-toluidine form (-NH2), as I am supposed to do this calculation to find the pH required to recover 99% of o-toluidine when adding NaOH to o-toluidine hydrochloride. Formula I will use is pH = pKa + [A-/HA]. Would like to verify the value of 6.44 I am getting. Should it not be higher? update: thanks for the comments so far, looks I need to get more info on my end to clarify the question.

What pH is required to obtain 99% of amine? Show all of your work.

Toluidine is a weak organic base. We will use this property to protonate it with 3M HCl and form a hydrochloride salt to move it from the organic to the aqueous phase then recover it by neutralizing the aqueous layer. The amine is soluble in the organic phase, the salt is soluble in the aqueous phase. At acidic pH, it will exist in the hydrochloride salt form, but once the pH is neutral the equilibrium will be shifted to favor the amine. Benzoic acid has a pKa of 4.2. At high pH the base will deprotonate benzoic acid forming a sodium benzoate salt. The sodium benzoate salt is soluble in the water.

Write just a few sentence that "describe" and " reflect" your experience with nature that makes you happy.

Codeine, a basic alkaloid with the general formula R3N, is a derivative of morphine that is used as an analgesic or narcotic. Calculate the pH and Kb of a 1.7 × 10-3 M codeine solution that is 2.29% hydrolyzed. What is the Ka of its conjugate acid?

Calculate the concentration of the conjugate acid required to make a pH = 7.00 buffer with the weak base in the part above.

Codeine is a very popular perscription pain killer because it is a lot less addictive than morephine. Coedine contains a basic nitrogen atom that can be protonated to give the conjugate acid of codeine. Calculate the pH of 3.30x10^-4M solution of codeine if the pKa of the conjugate acid is 8.21.

Painkillers Morphine is an e ective painkiller but is also highly addictive. Codeine is a popular prescription painkiller because it is much less addictive than morphine. Codeine contains a basic nitrogen atom that can be protonated to give the conjugate acid of codeine.

Calculate the pH of a 0.115 M solution of morphine if its pKb = 5.79.

Calculate the pH of a 3.42 × 10–4 M solution of codeine if the pKa of the conjugate acid is 8.21.

Codeine (C18H21NO3) is derivative of morphine that is used as an analgesic, narcotic, or antitussive. It was once commonly used in cough syrups but is now available only by prescription because of its addictive properties. If the pH of a 1.7x10-3 M solution of codeine is 9.59, calculate Kb.

Codeine, a basic alkaloid with the general formula R3N, is a derivative of morphine that is used as an analgesic or narcotic. Calculate the pH and Kb of a 1.7 × 10-3 M codeine solution that is 2.29% hydrolyzed. What is the Ka of its conjugate acid?

Calculate the concentration of the conjugate acid required to make a pH = 7.00 buffer with the weak base in the part above.

Oxycodone C18H21NO4, a narcotic analgesic, is a weak base withpKb=5.47

Calculate the pH in a 0.00210 M oxycodone solution.

Please show work!

What is the pregnancy class/category of Oxycodone?

The following data relate to Jones Company for the year endedDecember 31,2011

A) Determine income on an accrual basis

B) Determine income on a cash basis

25. The following data relate to Swift Companyfor the year ended December 31, 2011 and 2012. Swift Company usesthe accrual basis. What is Swift Company’s pre-tax net income on anaccrual basis for the year ended December 31, 2012? You must showyour work.

The following data relate to Swift Company for the year endedDecember 31, 2011 and 2012. Swift Company uses the cash basis. Whatis Swift Company’s pre-tax net income on a cash basis for the yearended December 31, 2012? You must show your work. (5points)

(Points : 5)