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To analyze the effects of discrimination in labor markets, use supply and demand curves for labor, with the demand curves representing the value of the marginal product.
In the following case, show the effects of discrimination on wage rates, and show whether there are forces in the market that would tend to make the discriminators treat people fairly:
a) Acme and United are two identical firms. Acme refuses to hire blacks, while United treats all job applicants equally.
An overoptimistic sales forecast has resulted in excess inventory sitting idle at a company's warehouse. As the manager of the company, your job is to troubleshoot the problem and get results. Your instinctive reaction is to open up new channels of d..
Explain in detail why it is important that prices are flexible in our economy? What are the implications if the government started to control prices for products, how would this influence buying?
Prove that giffen goods have a positively sloped demand curve and a backward bending price consumption curve.
Elasticity.....an important, powerful and, at times, challenging topic. Imagine this: you just won a contest and have been appointed the State Tax Commissioner (you might be asking: why did I enter? and is this a good thing to win?) Try to connect th..
q. 1. patent systems can be worthwhile if induced innovations are important also if the rewards from patents speed them
Several organizations and individuals – usually advocates of a balanced budget – maintain National Debt Clock. Is national debt a worry for the economy? Economists do not agree on the answer to this question. How did the 1974 Congressional Budget Act..
Assume that an economy is characterized by the following equations: C = 100 + (2/3)(Y − T ) T = 600 G = 500. Write the numerical IS curve for the economy, expressing Y as a numerical function of G,T, and r.
Explain the relationship between consumer demand and producer supply. The law of demand states that as prices increase the quantity demanded decreases. The law of supply states that as prices increase the quantity supplied increase. Explain how chang..
In which markets will firms probably have the most difficulty recouping their investment in technological innovations?
Suppose the nation of Arcadia produces only two goods teapots and surfboards if Arcadia produces only teapots it can make 80 per day if Arcadia produces only surfboards it can make 30 per day what is the opportunity cost of one teapot in Arcadia
The engineering team at Manuel’s Manufacturing, Inc., is planning to purchase an enterprise resource planning (ERP) system. The software and installation from Vendor A costs $380,000 initially and is expected to increase revenue $125,000 per year eve..
What are the effects of increasing in government spending both mandatory and discretionary spending on US economy forecast ot grow by 1.5%
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