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Assume the type of discrimination analysed by Becker, in which firms act as if they pay when they hire females and when they hire males, where and , are discrimination and nepotism coefficients respectively.
a. Embed these in place of wages in the firm profit function and derive the firm's profit-max demand for labour.
b. In the case where the value of the marginal product of male and female labour are the same, solve for the ratio of female to male wages when the discrimination and nepotism coefficients are both 0.1.
c. What is meant by discrimination and nepotism coefficients are both 0.1?
A company purchased new equipment for $98,500 now and annual operations and maintenance costs of $9,500 per year for 5 years starting 3 years from now. What is the present worth of these costs if the interest rate is 7% per year?
Consider an initial stock of 5000 tons of high grade ore. The demand function for this ore is P = 2400 – 0.2Q (Q is measured in tons/year), and the cost of extraction is constant at c = $200/ton. The discount rate is r = 0.10. Using a discount rate o..
If you are asked a question you do not understand during a question-and-answer session, you should first ask for clarification, then respond to the question
The AAA Aquarium Co. sells aquariums for $20 each. Fixed costs of production are $20. The total variable costs are $20 for one aquarium, $25 for two units, $35 for three units, $50 for four units, and $80 for five units. In the form of a table, calcu..
If a competitive firm is currently producing a level of output at which marginal cost exceeds marginal revenue, graph the situation and explain why if MC>MR, it does not necessarily mean the firm will have a loss (just that they could have more profi..
The population standard deviation s is estimated to be around 25. The necessary sample size should be at least?
The "Cross of Gold" speech was:
Assume the economy initially is in a long run equilibrium. Suppose the following shocks occur: U.S. fiscal policymakers decide to decrease government spending dramatically on all federal programs;
Explain how does the empirical rule help to explain the ways in which values in a set of numerical data cluster and distribute.
Suppose that the annual federal deficit is $350 billion. Gross Domestic Product 'GDP', a measure of the size of the economy is $14.5 trillion ($14,500 billion). Calculate the ratio between the deficit and GDP as a percentage rounded to one decimal pl..
Your task is to write a report that describes, explainsand analyses three relevant newspaper articles published in the UK national print press.
Assume that the United States trades exclusively with Mexico and that the exchange rate between the U.S. and the Mexico is flexible. Assume that Americans desire more goods that are made in the Mexico. Show and explain how this change in demand will ..
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