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-Workers in a certain occupation will soon require a government issued license to legally practice in that occupation. To get the new license workers will need to study and pass an exam and then pay for a license. Employers who provide this service will need to close their shop unless they employ these licensed employees to serve the public. Based on this information:
a. How in the near term will this new development change the Supply of labour in this occupation? Discuss.
b. How in the near term will this new development change the Demand for labour in this occupation? Discuss.
c. Briefly discuss how this development with affect the equilibrium wage rate and the number of workers employed in the occupation.
Consider a perfectly competitive market described by the supply function P = 10 + 0.3Q and demand function P = 60 - 0.2Q. Suppose the market is initially in equilibrium. If the government intervenes in the market and imposes a price restriction of P ..
What is Jesse's monthly ECONOMIC profit? (DO NOT USE SYMBOLS OTHER THAN A DECIMAL POINT IN YOUR ANSWER.)
Is your employer/ hospital in a competitive market? Market competition affects revenues. Why do you think your workplace is using more technology including nursing staffing software?
How might the majority voting model be used to explain the growth of government expenditures? (a) Should changes in median or average income better explain increases in the demand for government services? (b) What should be the effect of an increase ..
Draw the graph containing the ATC, AVC, MC, MR for a purely competitive firm operating in the long run (ie. Operating at 0 economic profits).
1. If total costs are given by TC(Q) =17.52 + 0.13Q + .004Q^2 then what is the total fixed cost?
q1. if the impact of the u.s. imposed on japan voluntary export restraint of passenger cars to the u.s. from 2000000
Economics of Risk and Uncertainty Applied Problems Please complete the following two applied problems. Show all your calculations and explain your results. Problem 1: A generous university benefactor has agreed to donate a large amount of money for s..
1) Politically, which do you identify most closely with, Democrats, Tea-Party Republicans, establishment Republicans, or Libertarians? Why?
The year 2014 was a perfect storm in the hazelnut industry: terrible weather and blights reduced crops. People in China started eating large numbers of hazelnuts, and recent information on the health benefits of these nuts increased domestic demand. ..
What is the opportunity cost of getting my college degree, what steps and economic factors should I take as a student choosing
You are managing a computer chip manufacturer. Your machinery produces chips normally distributed with an average chip speed of 8 gigahertz (ghz) and a standard deviation of 0.5 ghz. The cost of production is $100 per chip. Chips with speeds from 7 ..
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