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Suppose there are two industries, airlines (A) and breweries (B), and that the demand for secretatrial labor, E, in each industry is EA = 25 – wA and EB = 20 – 2 wB. If the supply of secretarial labor is E = 2 w, then what are the equilibrium wage and employment levels in the secretarial labor market? How many secretaries work in the airline industry?
Over the last several decades, declining transportation and communication costs have:
A company expects to achieve cost savings of $4,500 the first year and amounts increasing by $800 each year for the next 5 years. At an interest rate of 10% per year, what is the total present worth of the savings?
Suppose that there are 100 workers in the country (50 women and 50 men), they are each paid $10 an hour, and the tax rate is 25%. What tax revenue is collected? What is the deadweight loss associated with the 25% tax on labor incomes?
When the_____ supply curve shifts outward or inward with an unchanged _____ curve, equilibrium price and quantity increase or? decrease, respectively. When the___ curve shifts outward or inward given an unchanged____ curve, equilibrium price moves in..
At a separating perfect Bayes-Nash equilibrium, what is the maximum amount of advertising that a restaurant conducts. What is the minimum amount.
Contractionary monetary policy
Find a 95% confidence interval for the true percent of car owners in this city who recieved a speeding ticket this year. Evalute your results to the nearest hundredth of a percent.
Create graphs and tables to illustrate costs and revenues for firms in different market structures. You have learned about the market structures of pure competition, monopoly, monopolistic competition, and oligopoly. In this assignment, you will appl..
In the market of identical firms, the market demand function is Q=1000-1000P. The marginal cost is the same for all firms, mc=0.28. Characterize what is the firm’s optimal output and price when there is a single firm in the market. Characterize what ..
Ohm Control Systems is a large manufacturer of control systems for the electrical power generation and distribution industry. Over the past few years, Ohm has watched overseas competitors take away market share with products that are priced lower and..
If an economy is in short-run equilibrium that is below potential, what forces will bring the economy to long-run equilibrium?
Elucidate what happens to the price of oranges and the marginal product of orange pickers as a result of the freeze. Can you say what happens to the demand for orange pickers.
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