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In 1996, a group of American doctors called for a limit on the number of foreign-trained physicians permitted to practice in the United States. What effect would such a limit have on the equilibrium quantity and price of doctors' services in the United States? How are American-trained doctors and consumers affected?
Assuming that all firefighters must be at least 67 inches tall, how does this height restriction affect the wage the city must pay to attract five firefighters, and how does the restriction affect the gender composition of employment
Adrian is about to borrow $2350 from his uncle. He has an option to repay the loan at the end of the year 5 with 10.75% interest per year or with 5% interest per year compounded annually. What is the difference of the total interest paid over 5 ye..
How would you modify the model to capture this effect. How would you test the null hypothesis that the value of β2(effect of X2) is constant against the alternative hypothesis that the value of β2(effect of X2) increased when X1 increased.
S makes the first offer, with 4 bargaining rounds of alternating offers, and with S discounting 2% between each bargaining round. Compare bargaining outcomes when B discounts 10% between each bargaining round with B discounting only 1% between eac..
Find the optimal quantity of football fields when the marginal rate of transformation between football fields and the numeraire is 150. Also, find the optimal quantity when the marginal rate of transformation is 50.
Consider a market composed of five identical firms each with aconstant marginal cost of production of $50. They face a marketdemand given by Q=2,500-10P. Each firm is currently charging thecompetitive price.
Argue without solving this problem that there exists a unique value function V (k) and a unique policy rule c = π(k) determining the level of consumption as a function of the level of capital stock.
Solve the forecast model
(Consumer Price Index) Given the following data, what was the value of the consumer price index in the base year?
ModMill has just announced that the firm will finance the purchase using equity. What is the new price per share of the firm's stock? How many shares will ModMill need to issue in order to finance the purchase?
The forecasting staff for the Prizer Corp has developed a model to predict sales of its air cushioned ride snowmobiles. The model specifies that sales S vary jointly with disposable personal income Y and the population between ages 15 and 40 Z.
What is the capital recovery(CR) amount associated with a machine that will last 16years, its first cost (incurred in year 0) is 735 dollars, itsoperating costs are 65 dollars per month, and its salvage value is347 dollars.
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