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1.) With an economic perspective write a brief summary of the current event article
- The Washington Post
"Coming Soon to an Airport New You - Flight Delays" 4-19-2013
2.) Write your opinion and application of this article to your life
1. Describe the welfare costs of a monopoly.
2. Discuss the regulator organizations that monitor anti-trust inAmerica. Name these organizations and their functions.
3. Summarize in 100 to 150 words the concept of determining labor market equilibrium from the following Web site:
4. Summarize in 100 to 150 words the elements that determine the minimum wage inAmerica from the Web article:
5. Define a monopsony market for labor. Is it a wage maker or taker? What does the supply curve look like and why? Discuss the relationship between the marginal labor costs and wage rates. What determines the amount of labor that a firm hires?
6. Name and discuss the different types of labor unions. Be sure to include specifics.
A crucial assumption in this example is that the incumbent must charge the same price to all consumers and the entrant can target a subset of the customers. Is this example useful for thinking about markets where prices are negotiated? Why or why not..
Last year, the United States imported approximately $100 billion worth of oil. Many people believe we should simply stop importing all oil (about half of our domestic consumption). One argument in favor of this is that this oil is only about 1%
The U.S. is in recession and, at last report, GDP was shrinking at a rate of 1% per year. The unemployment rate is rising and now stands at 7%. In recent months, the rate of inflation has been holding steady and is increasing at an annual rate ..
Assume consumer equilibrium (budget curve and indifference curves). Draw 3 separate scenarios: (1) the price of good x decreases; (2) the price of good y increases; and (3) the budget (income increases). In each scenario, explain the effect on the gr..
microeconomicsquestion 1suppose that oil prices rise sharply for years as a result of a war in the middle east.
Signaling Suppose that both employees and employers view GPA as a signal of quality. Suppose that with no effort, each earns a 2.7 GPA. The opportunity cost for a high-skilled worker to improve his/her GPA is $6,000 per 0.1 points.
The reason a profit-maximizing natural monopolist cannot set price equal to marginal cost is that it would:
Assume that a firm uses labor and capital to produce a product. The firm hires labor at a wage rate of $4 per unit and rents capital at $5 per unit. At its current output level, the marginal physical products of labor and capital are 20 and 30 units,..
Give at least three reasons and examples when addressing this question, using your text, the Online Library, and the Internet as resources. Identify an event that would shift the AD curve and which direction the AD curve will shift.
The demand for Good X is given by: Q d/x = 6,000 - 1/2 Px - Py + 9Pz + 1/10M Research shows that the prices of related goods are given Py =$6,500 and Pz = $100, while the average income of individuals consuming this product is M=$70,000. Indicate whe..
suppose that instead of holding prices fixed as we did in this problem that prices were perfectly flexible as in a
Franklin D. Roosevelt ' New Deal in the 1930's aid United States to go through the depression. There were famous 3-Rs: relief, recovery and reform.
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