in the market for factors of production usually the equilibrium will be stablished on the based of the equality between the value of marginal products of output and their relative price level. on the other hand the value of marginal product of output is a function of observed rate productivity of output and the market capacity of factors of production. thus the fluctuation in the rate of produc...

Labour market imperfections are one of the leading causes of economic backwardness that result in under utilization of labour, the most important input in production process. Labour markets are shallow in subsistence agricultural economies which causes problem in determining the wage rate. The household production function provides an alternative to estimating the shadow wage rate such that it ...

This paper uses a finite mixture model to uncover heterogeneous income tax rate perceptions, establishing four new results. First, almost half of respondents do not distinguish between marginal and average tax rates. Second, roughly 30 percent of respondents know the statutory marginal tax rates schedule (and answer questions accordingly). Third, among respondents who think all income is taxed ...

This paper presents an overview of the key economic results associated with the use of non-renewable resources. The basic Hotelling model of resource depletion is discussed, followed by several extensions. The fundamental result is that scarcity rent rises at the discount rate, and that at equilibrium, marginal benefits from extraction must equal the marginal economic cost. If marginal extracti...

This paper examines how changes in major elements of the U.S. federal crop insurance program affect the structure of the agricultural insurance industry. We model interactions between farmers, insurance agents and insurance companies. Marginal changes in government policy (premium subsidy rate, A&O subsidy rate, and loading factor) affect the insurance premium rate, agent compensation rates, ag...

The study seeks to establish the frequency of occurrence for processes of connected speech and to examine the role of rate, hypothesizing that high rate fosters processes. Auditory and acoustic analysis was performed on 4.5 hs of speech of 9 speakers of Lancashire from the Phonologie de l’Anglais Contemporain corpus (PAC). As for the first aim, the following ranking emerges: /d/ deletion (34%),...