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The minimum wage was increased in 1996 amid cries by many economists that it would cause unemployment. Critics pointed out that the last time the minimum wage went up the same dire predictions from economists were made, but more people were employed after the minimum wage increase. The same, they argued, would occur again. How it may be possible for increases in the minimum wage to have little impact on employment levels. Please explain using the following concepts: a) long-run versus short-run; b) fixed inputs; and c) increase demand/output
explain why does not just one state produce all of the orange juice for the U.S. market? Can you answer this question without the simulation.
Delineate which market participants you believe benefited from the final court decision and whose interests were harmed.
Illustrate what are the effects on the growth rates of cumulative o/p, cumulative consumption, and also cumulative investment.
What is the diamonds water paradox and how is it explained?
Red Ball Production's taxable income in 2005 was $500,000. Illustrate what amount of state income tax did Red Ball Productions owe.
Suppose the economy is in a recession and per capita disposable income is expected to decrease by 5%, then what percentage effect on sales would you expect to take place.
Find out and read two articles about a recent controversial issue involving either the Federal or state government and eminent domain.
Illustrate what is the difference among a command economy also a market economy.
How would I find out by how much the price of water needs to be raised to reduce demand by 40% if the price of elasticity is 2.0.
Illustrate is the income elasticity of demand for yo-yos. At what price will total revenue realized from their sale be at a maximum.
If the variable is almost normally distributed does that mean you use common distribution.
An athletic director was once quoted as saying that he felt his school spent too much on athletics but that it could not afford to stop.
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