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• Submit a 250- to 300-word response addressing two of the following labor scenarios in the new housing market:
• A new law requires that all construction workers in your area belong to a labor union. Will this shift the labor supply curve, demand curve or both in home construction? How will this affect wages and number of workers in home construction? How will this affect the cost of building a home (and price of a new home)?
• A wave of undocumented workers moves into the area. Will this shift the labor supply curve, demand curve or both in home construction? How will this affect wages and number of workers in home construction? How will this affect the cost of building a home (and price of a new home)?
• Due to a recession, the demand for the housing market decreases. Will this shift the labor supply curve, demand curve or both? How will this affect the wages and number of workers in home construction?
Illustrate what is the minimum efficient scale for each technology. Illustrate what if it was more optimistic about summer sales.
Describe what would happen if an outside agency determined the prices eBay could charge.
What are the four factors which both expected and unexpected,perpetuate the business cycle.
Conclude whether there is an arbitrage opportunity in the option market, using the put-call parity.
State the appropriate monetary policy which the Bank of Canada should be operating, given the above situation.
Consider a simultaneous-move auction in which 2 players simultaneously select bids, which must be in nonnegative integer multiples of one cent.
Illustrate what would happens to P* if there is a decrease in demand followed by an increase in supply followed by another decrease in demand.
Assume that in 1984 the total output in a single-good economy was 7000 buckets of chicken.
Explain why do the Average Variable Cost curve and the Average Total Cost curve become closer as the quantity increases.
Illustrate what is each firm's equilibrium output and profit if they behave noncooperatively. Use the Cournot model. Draw the firms' reaction curves and show the equilibrium.
Explain with the concept of optimization and a graph, the circumstances under which a waste site could be made "too clean".
Explain how do real GDP and the cost level change if the forecast of inflation turns out to be incorrect.
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