Suppose That All Workers Place a Value on Their Leisure

question 86

Multiple Choice

Suppose that all workers place a value on their leisure of 40 goods per day.The production function relating output per day Y to the number of people working per day N is
Y = 200N - N2
And the marginal product of labor is
MPN = 200 - 2N.
A 20% tax is levied on wages.Output per day would be

• A)5,625.
• B)7,250.
• C)9,375.
• D)11,250.

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Definitions:

Infant Mortality Rate

The rate at which infants under one year of age die in a given population per 1,000 live births in a year.

Crude Birth Rate

The number of live births per 1,000 people in a population in a given year.

Teenage Pregnancy Rate

The number of pregnancies per 1,000 females aged 15-19 in a given year, a key indicator of reproductive health and socio-economic conditions.

Immigration

The movement of people from one country to another to live or work.