Polly's Pet Store has a local monopoly on the grooming of dogs. The daily inverse demand curve
Question:
P = 20 - 0.1Q
where P is the price of each grooming and Q is the number of groomings given each day. This implies that Polly's marginal revenue is:
MR = 20 - 0.2Q.
Each worker Polly hires can groom 20 dogs each day. What is Polly's labor demand curve as a function of w, the daily wage that Polly takes as given?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
As each worker can groom 20 dogs each day which is the marginal ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Upper Peninsula Underground Recordings (UPUR) has a monopoly on the recordings of the famous rock group Moosecake. Moosecakes music is only provided on digital tape, and blank digital tapes cost them...
-
Suppose that the inverse demand curve for a dinner-for-two special at a small local restaurant can be expressed as P = 4,900 3QD2, where price is expressed in dollars and quantity in number of...
-
Consider an economy with two individuals. Individual 1 has (inverse) demand curve for a public good given by P1 = 60 - 2Q1, while Individual 2 has (inverse) demand curve for the public good given by...
-
A business wishes to have $80,000 ten years from now to make a down payment on a capital asset. How much money would the business need to invest in equal annual payments at a compound interest rate...
-
Financial analysts forecast Limited Brands (LTD) growth rate for the future to be 12.5 percent. LTDs recent dividend was $0.60. What is the value of Limited Brands stock when the required return is...
-
Helium is to be compressed from 120 kPa and 310 K to 700 kPa and 430 K. A heat loss of 20 kJ/kg occurs during the compression process. Neglecting kinetic energy changes, determine the power input...
-
Use regression analysis to analyze cost behavior
-
Hamad Corporation began operations on January 1, 2011. Recently the corporation has had several unusual accounting problems related to the presentation of its income statement for financial reporting...
-
Find the values ofx that satisfyr the inequalities. (Enter your answer using interval notation.) x+5:=6orx3
-
Draw an ISD for the DFD in Exercise E in Chapter 5.
-
A firm faces perfectly elastic demand for its output at a price of $6 per unit of output. The firm, however, faces an upward-sloped labor supply curve of E = 20w - 120 where E is the number of...
-
The Key West Parrot Shop has a monopoly on the sale of parrot souvenir caps in Key West. The inverse demand curve for caps is: P = 30 - 0.4Q where P is the price of a cap and Q is the number of caps...
-
Sonimad Sawmill Inc. (SSI) purchases logs from independent timber contractors and processes the logs into three types of lumber products: Studs for residential buildings (walls, ceilings). Decorative...
-
The following are users of financial statements. Customers. Financial regulators. Tax authorities. Store manager. Labor unions. Suppliers. Marketing manager. Vice president of finance. Production...
-
Do you think there is a need for research papers to be scrutinized by peers of the author?
-
FedEx Corporation (FedEx) and Lalamove are both logistics and delivery companies. FedEx has employed 547,000 employees, whilst Lalamove has 1,400. For the same products or services, small and large...
-
Below are departmental income statements for a guitar manufacturer. The company classifies advertising, rent, and utilities as indirect expenses. The manufacturer is considering eliminating its...
-
The Income Statement and Balance Sheet consistently tell a financial story. That story has many chapters and can change dramatically based upon macroeconomic conditions. Locate the Form 10-K of a...
-
Suppose the writers goal had been to write a brief essay focusing on the history and development of ragtime music. Would this essay successfully fulfill this goal? F. Yes, because the essay mentions...
-
A statistical study shows that the fraction of television sets of a certain brand that are still in service after x years is given by f (x) = e-0.15x. (a) What fraction of the sets are still in...
-
What is the internal rate of return on a human capital investment? Given the internal rate of return, what is the appropriate investment criterion? Compare this to the criterion relevant to the...
-
Comment on each of the following statements:a. Given the work life cycle of the ?traditional? woman, it may be rational for women to invest in less human capital than men.b. Older workers are less...
-
Comment on each of the following statements:a. Given the work life cycle of the ?traditional? woman, it may be rational for women to invest in less human capital than men.b. Older workers are less...
-
Page 4 Question 4 ( 2 0 marks ) Rochelle Green, the Senior Accountant of Toptech Solutions Inc. is reviewing the work of the Junior Accounts Officer for the month of January 2 0 2 3 , and noted that...
-
Use the Bentley Inc. financial statements and supplementary information given below to prepare a statement of cash flows for the year ended December 3 1 , 2 0 1 9 , using the indirect method....
-
how do you do numbers 1 , 2 , 3 , and 4
Study smarter with the SolutionInn App