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Under what elasticity conditions would the following be true: "Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage"?
freds frisbees is trying to determine how many frisbee pressing machines to buy for its new factory. the real price of
Suppose A and B choose the amount they spend on the school independently. What is the Nash equilibrium level of the school's quality in Little Society?
Perfect Competition is a model of which examples are few and far between. Yet economists love to discuss this model. Explain why.
Calculate the price that the Plaza Movie House will charge for admission to movies in the long run and what will be the number of patrons per day at that price?
1. a perfectly competitive industry has demand curve p 100 - .5q where q is total output produced. all firms in
How would an increase in the world price of oil affect the amount of frictional unemployment. Is this unemployment undesirable. What public policies might affect the amount of unemployment caused by this price change.
Suppose the supply curve for a good is completely inelastic. If the government imposed a price ceiling below the market-clearing level, would a deadweight loss result? Explain.
a generous university benefactor has agreed to donate a large amount of money for student scholarships. the money can
if the ce if the of pepsi-cola increases from 40 cents to 50 cents per can and the quantity demanded decreases from 100
a major publicly traded automotive producer, such as General Motors, Ford, Toyota, or Volkswagen. Then, research this company's production and inventory levels, and operational cost information, along with price and sales data for the most recent ..
the small three-story brick building was slowly being dwarfed by the new gleaming white brick-and-glass office and
Cost-Plus Pricing. Wendel Stove Company is developing a "professional" model stove aimed at the home market. The company estimates that variable costs will be $2,000 per unit and fixed costs will be $10,000,000 per year.
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