Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Consider a labor market with a monopolistic firm that has a labor demand curve of MRPL=16-.5L, where L is thousands of hours of work. Suppose that workers at the firm are organized into a union that has a union objective function of U=WL, where W is the hourly wage.
Find an expression for the union’s marginal rate of substitution of hours of employment for wages. (Hint: recall that the MRS is the ratio of the marginal utility of L to the marginal utility of W.)
Suppose that when negotiating a contract, the union can set wages but cannot affect the amount of labor utilized by the firm. What wage will maximize the union’s objective function?
Now suppose that the union is able to bargain over both wages and the level of employment. Will their optimal contract exhibit the same wage as in part b? Explain why or why not.
How does an increase in the expected rate of inflation shift the Phillips curves?
Consider the marginal cost for a product like Microsoft Windows 8. How does the marginal cost for a product like this differ from a product like automobiles? What relevance might there be to this difference?
How has the educational system affected the quality of our labor force? Explain the Malthusian theory of population. Is it relevant today anywhere in the world? Explain where and why. How does the American savings rate compare to that of other leadin..
About two-thirds of all households now purchase two or more bundled telecommunications services from the same company (e.g., local telephone, long distance telephone, video, cell phone, Internet, etc.). Explain why consumers frequently prefer bundled..
q1. during a coffee-room debate among several young mbas who had in recent times graduated among all one of the young
Illustrate what price should the firm charge if it wants to maximize its profits in the short run. What arguments can be made for charging a price higher than this price.
The sale of treasury securities by the Federal Reserve will, in general
(a) If tuition is set at $3,000, how many students will enroll? Now suppose that society gets an external benefit of $1,000 for every enrolled student. (b) Draw the social and market demand curves for this situation on the graph below. (c) What is th..
Give two different causes of how an economy can experience stagflation. explain in words why rising prices decrease the multiplier effect of a shift in the aggregate demand curve. Think about the impact of an upward sloping aggregate supply curve and..
Air Express bought a used Boeing 757 plane 5 years ago for $35,000,000. At the time the plane was bought, it was estimated that it would have a service life of 10 years and its salvage value at the end of its service life would be $10,000,000. Air Ex..
How does the possibility of Ricardian rents complicate inferring market power from market share and profits? Why does the capitalization of monopoly profits make it difficult to determine a firm's market power? Explain.
Explicate your rationale. Once more, with the similar organization in mind, converse the most effective way to maintain also extend a competitive benefit.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd