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Sheryl spends all her leisure time and all her money on sailing. She doesn’t value leisure time if she can’t sail, and she can only sail if she has leisure time. Sailboat rentals cost $10 per hour, and Sheryl earns W per hour. She has to decide how to allocate 15 hours per day between work and leisure.
(a) How many hours will she work if she earns $20 per hour?
(b) Find a formula for her labor supply curve.
(c) Graph the labor supply curve.
(d) Is the labor supply curve upward-sloping or downward-sloping? Explain.
demand for a good of an industry is given by the equation pq=100, where p is the price and q is quantity and supply is given by the equation 20+3p=q. find out the equation price and quantity
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q. if one draws mc curves pre and post innovation as well as the marginal revenue line for a monopoly and the mr in a
Decide whether each scenario would lead to upward or downward pressure on the equilibrium price for each good in bold font.
Explain what Alice must prove in order to maintain a claim for sexual harassment and constructive discharge.
Assume the U.S. currently grows 2.5 million tons of fresh winter fruit and that the resources absorbed in the production of this fruit could have produced 300,000 laptop computers. Therefore, the opportunity cost of producing 1 million ton of fresh w..
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A firm employs 8 units of the variable resource. at this level of employment, average product is 2, and average variable cost is $4. Explain how much output is the frim producing.
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The interest rate the Fed target is the:
Wages are specified as dollars per hour of work and L represents number of workers per day. Determine total demand for plumbers in New York.
Suppose a manufacturer estimates its marginal cost at $1.00 per pack, its own price elasticity at -2, and sets its price at $2.00. The company's settlement obligations are expected to raise its average total cost per pack by about $.60. What effec..
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