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1. Show what happens to producer surplus, worker surplus and the gains from trade as workers migrate from a low- wage to a high- wage region.
2. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the response in the monopsonistic market to the response that would have been observed in a competitive labor market
3. Prepaid college tuition plans, also known as Prepaid Education Arrangements (PEAs), allow you to prepay college tuition at present-day prices. The value of the investment is guaranteed by the state to cover college tuition, regardless of its future cost. You are considering the purchase of an education certicate for $25,000, which will cover the future tuition costs of your 8-year old daughter. You expect the tuition cost of your daughter's bachelor's degree to be $50,000 in 10 years. What would your personal discount rate need to be in order for it to be worthwhile for you to make the investment and purchase the certicate?
4. Some politicians in countries that are the recipients of large numbers of immigrants advocate adopt-ing laws requiring immigrants to learn the local language within a specied period of time. One economist, commenting on such a proposed law, said the following: \These laws are unnecessary, as the market provides incentives to learn the local language." Use the human capital model theory to describe the likely mechanism provided by the labor market to learn the local language. Analyze the characteristics of immigrants who are most likely to learn the new language. [Note: Relate each of these four characteristics with one of the terms appearing on the PV formula]
As a two-stage game using a game tree with Company B going first. Solve this game and identify the Nash Equilibrium and does either Company have a first-mover advantage?
In the classical model with fixed income a decrease in the real interest rate could be the result of a(n): If currency held by the public equals $100 billion, reserves held by banks equal $50 billion, and bank deposits equal $500 billion, then the ..
Interpret the estimated demand function for one-month memberships and calculate the point price elasticity of demand and point income elasticity of demand in Town D at the price charged last year.
The steady increase in demand for home computers has resulted in the massive increase in demand for web access, yet, the price of access has been steadily declining.
Explain the price elasticity of demand in each market structure and its effect on pricing of its products in each market. The four market structures are monopoly, Perfect competition, oligopoly, and monopolistic competition.
For many corporations, a major portion of the cost of production is fixed in the short run. Should these very large fixed costs be ignored when the executives are making output and pricing decisions?
The possible merger currently faces some threats and that the industry decides on self-expansion as an alternative strategy, describe the additional complexities that would arise under this new scenario of expansion via capital projects.
Which is not a factor of production? Which is not one of the five fundamental questions that an economy must deal with?
If we believe that the laws of supply and demand always hold, explainc why is it that the 'popular' gifts for the holidays always sell out early?
The NCAA prohibits schools that are caught paying athletes from participating in bowl games, and sometimes the punishment is even more severe. Explain why schools don't break away from the NCAA and form a league in which athletes can legitimately ..
Whichever way you've chosen to model this problem, execute a linear regression. For one time in your life, you are going to be calculating the slope and intercept estimators in EXCEL
Analyze the dynamics of supply and demand to anticipate market equilibrium and analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies.
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