The original income is: I =1.678 The new price of P1 is the following: P1\' 55 A

Question

The original income is: I =1.678 The new price of P1 is the following: P1' 55 Assume that the price of x1 has changed from P1 to P1. What is the total in the quantity of x1? QUESTION 15 Assume that MPK-109 and that the slope of the Isoquant is equal to -70. What is MPL? (hint: use only positive numbers) QUESTION 16 As Sam Houston State University hires more professors the total number of graduates increases. Professors Graduates 102 240 73 460 Assume the MPL of the 4th professor is 415. What is the value of "H" in the table? Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Explanation / Answer

Question 15

MPK = 109

Slope of the Isoquant = -70

Calculate the MPL -

Slope of isoquant = -MPL/MPK

-70 = -MPL/MPK

-70 = -MPL/109

-MPL = -(70 * 109)

-MPL = -7630

MPL = 7,630

Thus,

The MPL is 7,630.

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