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Question: The New War over Wal-Mart Today, Wal-Mart employs more people-1.7 million- than any other private employer in the world. With size comes power: Wal-Mart's prices are lower and United Food and Commercial Workers International Union argues that Wal-Mart's wages are also lower than its competitors. Last year, the workers at a Canadian outlet joined the union and Wal-Mart immediately closed the outlet. But does Wal-Mart behave any worse than its competitors? When it comes to payroll, Wal-Mart's median hourly wage tracks the national median wage for general retail jobs.
a. Explain how a union of Wal-Mart's employees would attempt to counteract Wal-Mart's wage offers (a bilateral monopoly).
b. Explain the response by the Canadian Wal Mart to the unionization of employees.
Draw a representative long-run average cost curve
When the price of broadband access capacity increases by 10%, commercial customers buy about 3.8% less capacity. What is the elasticity of demand for broadband access? Is demand at the current price elastic or inelastic?
Measured in terms of the reduction in private sector output, what is the cost of taxing a dollar away from the private sector and transferring it to the government?
Calculate the government's budget surplus or deficit at the equilibrium level of income. Calculate thetrade balance (net exports). Illustrate the trade balance in a diagram of net exports as a function of national income.
Use demand and supply models to illustrate and explain the following: [Use the demand and supply model for a domestic market]: Discuss any demand-side and/or supply-side factors that can explain the recent change in the price of grapes
1. you are given the following information about the amount your company can produce per day given the number of
It is sometimes claimed that the Fed cannot set interest rates by fiat, and hence cannot be accused of contributing materially to business cycle fluctuations.
(TCO 6) a) Identify the four major tools of monetary policy. b) Describe how changes in the Fed's major policy tools leads to [1] expansionary and [2] restrictive or contractionay monetary policies.
Labor is a resource that is necessary to produce many goods. "If the price of labor falls," says the economist, "the price of goods will soon follow." How does this work?
A competitive labor market would hire workers at a wage of and draw a graph illustrating the competitive markets hiring decision (two side-by-side graphs)
How would you characterize the competitive strategy of a high-end department store chain such as Nordstrom? What are the key customer needs that Nordstrom aims?
How do you calculate consumer and producer surplus given the equations Pd=100-Q and Ps=200-2Q?
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