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Assume that if the labor market is unregulated, the equilibrium wage for workers who do not have high school education is $5.00 an hour. (When possible use the concept of economic surplus to make your argument.)
a. Assume that the government imposes a minimum wage of $6.00 an hour. Draw a supply-demand diagram that shows what the impact of minimum wage would be.
b. Who benefits from this policy?
c. Who loses?
d. Under what conditions might it make sense to support a minimum wage policy?
e. Under what conditions might it make sense to oppose a minimum wage policy?
Suppose John has an income of $120 per period and faces prices Px=2 and Pz=3. His goal is to maximize his utility, described by the function U = 10x^0.5 * Z^0.5. Calculate the utility maximizing bundle (X*,Z*) using the Langrangian method. Derive the..
What are your views on nationalization of geo-resources that a country views as its national assets, that a private foreign company also views as its private assets?
A 30-year mortgage for $120,000 has been issued. The interest rate is 10%, and payments are made monthly. Print out an amortization schedule.
q1. determine the advantages and disadvantages of a company using price discrimination in order to increase demand for
What are the four dimensions of culture studied by Geert Hofstede? Identify and describe each. What is the cultural profile of the United States? Of Asian countries? Of Latin American Countries?
Elucidate how much the money supply will increase in response to a new cash deposit of $500 by completing the accompanying table.
a. What is the maximum level of accounts receivable that ALei can carry and have a 35?-day average collection? period?
Write down the decision box which combines the letter grade and the amount of fun you have into a single payoff for each outcome.
As you consider your options, evaluate whether the alternatives you come across fit with your company's mission, vision, and ethical framework, as well as any existing social responsibility efforts. Explain why the social cause you chose is a good fi..
Economics history question- Answer and explain the following about Karl Marx and Capitalism. What 2 things does Marx identify as the requirements for Capitalism? Explain the origins of each, in turn. Describe the Theory of Surplus Value in detail. Wh..
A commercial bank is concerned about its image among its clients. In a random survey that was run last year among 500 clients, 54% said that they were satisfied with the level of customer service. This year, in another survey among 400 clients, only ..
Illustrate what is the net current value of a project that requires a $100 investment today and returns $50 at the end of the first year and $80 at the end of the second year? Assume a discount rate of 10%.
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