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Identify whether each of the following raises labor demand or lowers labor supply (includes slowing labor supply growth) in labor market X.Increase the minimum wage for workers less skilled than labor market X.
Pass laws prohibiting children from working in labor market X.
Require a license to work in labor market X.
Increase tariffs on imports that compete with labor market X employers.
Limits on immigration for those who might work in labor market X.
Buy American campaign run by workers in labor market X.
Assume you can only consume good X and Y out of abudget of $120. Your utility function is U = ln(X)+ln(Y ).
What are the four major types of markets in microeconomic analysis and what are the key characteristics that distinguish these markets?
Determine the marginal cost for bottle of wine and what will be the reduction in number of crashes at that intersection achieved by the mayor?
Who has a comparative advantage in producing wine and who has a comparative advantage in producing schnitzel?
This briefing is particularly important because of the global financial crisis that began in 2007. The briefing is required to provide more foundation for the finance team because they are not well versed in international aspects of finance.
Analyze five reasons why demand for this product could shift and analyze five reasons why supply could shift.
Discuss the factors that affect the price elasticity of demand as they apply tolamb and make a suggestion based on your appraisal as to the likely priceelasticity coefficient.
Identify the extent of safety issues in Canadian hospital care. Describe strategies that might be put in place to improve safety?
Suppose the demand for a product is given by P = 60 - 2Q. The supply is given by P = 10 + 3Q. If a $10 per unit excise tax is levied on the buyers of a good, what will be the deadweight loss created by this tax.
The most prominent benefit offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $30 per hour and in addition received health benefits at the rate of $6 per hour.
Carl is deciding whether or not to make a farm. If he makes a farm, he will earn a $50,000 grant from the government. For every 100 head of cattle that he increase and sells.
The marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit, and an output of 2 million units. The price that consumers are willing and able to pay for this output is $40 per unit.
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