Draw a typical Total Product (TP) curve in one graph.
Right under the graph showing the TP curve, draw a typical
Average Product and Marginal Product curves in another graph; using
the same scales.
On the graphs, show the three stages of production. Justify the
rationale for dividing the production process into the three
stages.
Total Product Curve.
a. Draw a diagram of the total product curve for medical care as
a function of nurse labor.
b. Explain how the productivity of nurse labor influences the
shape of the curve. Be sure to refer to points on the curve in your
explanation.
c. Graph the marginal and average products for nurse labor.
d. Explain how the two values relate to each.
Explain why the monopsonist's marginal-revenue-product curve is
downward sloping. Include the role of the price for the final good
or service in your answer.
I know that The monopsonist's marginal-revenue-product curve is
downward sloping because of the law of diminishing returns, but how
can tie back to the price for the final good or service?
1. Explain in your own words why aggregate supply curve is
upward sloping? Include graph with your answers.
2. Explain briefly the four major components of aggregate
demand.
3. Explain in your own words the multiplier effects of
government spending on Aggregate Demand. Include graph with your
answer.
4. Explain in your own words how an increase in aggregate demand
creates inflation. Include graph with your answer.
5. Describe in your own words how bank creates money.
Assume a monopolist firm with diminishing marginal product.
Graph the marginal cost curve.
Graph the firm level demand curve.
Graph the firm level marginal revenue curve.
Identify the profit maximizing quantity to produce and the
corresponding price.
What does the price function look like if the monopolist can
engage in perfect price discrimination?
Sketch the graph of the curve ? = 1 + sin ? for 0 ≤ ? ≤ 2? ? b)
Find the slope of the tangent line to this curve at ? = 4 . c) Find
the polar coordinates of the points on this curve where the tangent
line is horizontal.
Curve sketching: Choose two of the functions to sketch a graph.
you should include the following parts for each.
a). domain b). x and y intercepts c). any asymptotes d).
intervals of increase/decrease e)/ extreme values f). intervals of
concavity and infection points
f(x)= 2x+9 / x+3
g(x)= -2 / x+1
h(x)= x^ - 6x^2