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Question
You are the manager of a large but privately held online retailer that currently uses 17 unskilled workers and 6 semiskilled workers at its warehouse to box and ship the products it sells online. Your company pays its unskilled workers the minimum wage but pays the semiskilled workers $12.75 per hour. Thanks to government legislation, the minimum wage in your state will increase from $10.25 per hour to $10.75 per hour on July 24, 2021. Discuss the implications of this legislation on your company's operations and in particular the implications for your optimal mix of inputs and long-run investment decisions.
Consider a country in autarky with only two inputs, capital(K) and labor(L), that produces only two goods apples (A) and bananas (B). What is the condition for efficiency in production?
Taking a cue from the experiences of communities of color in different areas from education to housing and economic development, briefly state the role of race
Elaborate the manifesto of political party which has emerged as winner in recent federal elections.
Please describe the the views of a Luddite and discuss any similarities between the Luddites of the 19th century and the neo-Luddites of today. What objections do they have to technology?
Over the past decade medical costs have increased more rapidly than other prices. In order to illustrate how rising medical costs have affected consumer alternatives, let X represent the quantity of medical services, and let Y represent the quantity ..
If you were asked to lend money to your cousin’s clothing store to help her through a slow sales period, would you be more interested in looking at the current ratio, or the quick ratio, as a measure of liquidity? Why?
Give an example of a "leading Indicator" and explain how it can predict how the general economy will behave. What is the relationship between the GDP gap and the recessionary gap? Discuss the role of the Federal Reserve in getting an economy out of a..
Have a lower value of a flight than business travellers. What pricing strategy options are available to the airline? In addition, what relationship between the two markets limits the airlines ability to raise price.
A firm’s demand function is as follows: Qx = 400 - 5Px + Py - 2Pz + 2I. Assume initial values of Px = 50, Py = 20, Pz = 20, I = 50. Determine the quantity of X that will be sold assuming the initial values. Develop the corresponding Total Revenue and..
Each year,$7,500 is invested at 4% annual compound interest a) What is the value of the investment portfolio after 20 years? After 25 years? After 30 years? b) Repeat part (a) with the investment at 5% annual compound interest c) Based answers to (a)..
The automobile market has been used as an example of a Stackelberg oligopoly where one firm is the industry leader and the other firms will follow that lead. Assume the following equations were estimated for the automobile industry. Calculate the pro..
Then give your opinion regarding the demand, by the year 2025. Will the supply decrease, will the demand increase, will the prices increase?
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