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Question: Ability, effort, and chance must play an important role in wage determination because less than half of the variation in wages can be explained by workers; education, experience, age, and job characteristics.
prepare an essay on minimum wages are likely to harm those they are designed to help. under what circumstances could
The truck recharges the accumulators when it brakes. If the fuel cost for a regular refuse truck is $800 per month, how much can a private waste hauling company afford to spend on the recovery system if it wants to recover its investment in 3 year..
Give an example in the marketplace that describes the principles of the free market and competition.
what do you mean by a social welfare function? if you assume that such a function exists what properties of social
The number of people arriving at a bicycle repair shop follows a Poisson distribution with an average of 4 arrivals per hour. A given customer who arrives at the shop orders a repair with 70% probability. Let X represent the number of people arri..
MPL=100 MPK=500 PL=50 PK=10. Is the firm minimizing costs? If not, how should the firm adjust its input set? What is the willingness condition for cost minimization? What two conditions must be met if a firm is maximizing profits? Explain how t..
Do you think the demand for mangoes is price elastic or price inelastic? Explain your answer based on the determinants of price elasticity of demand.
Why is the residual mean value important to a forecaster
Analyze the following statement: "In 1975, the official price of gold was abolished as the unit of account for the international monetary system. As a result, gold was demonetized as an international reserve asset."
Show graphically how regulating the value of a monopolist can both increase quantity and lower price.
Peter is living in the United States, but he owns a company based in Denmark. However, he pays taxes on the profits he earns from this company to the United States government. Is the profit of this company included in the GDP of the United States
An end-of-aisle price promotion changes the price of elasticity of a good from -2 to -3. If the normal price is $10, what should the promotional price be?
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