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Each entry-level software programmer in Palo Alto, California, has either high or low ability. All potential employers value a high-ability worker at $44,000 per month and a low-ability worker at $6,000. The supply of high-ability workers is Q = 0.05(W - 2,000) and the supply of low-ability workers is Q=0.1(W - 2,000), where W is the monthly wage. If workers' abilities are observable to employers, what are the equilibrium wages? How many workers of each type will employers hire? If workers' abilities are not observed by employers, what is the equilibrium wage? How many workers of each type will employers hire? What is the deadweight loss due to asymmetric information?
A small country can import a good at a world price of 10 per unit. The domestic supply curve of the good is S = 50 + 5P. The domestic demand curve is D = 400 - 10P. In addition, each unit of production yields a marginal social benefit of 10. a. C..
Assuming there are only 30 stocks in the world, and the annual rates of return (Xi) are following: Xi Xi+100 Xi*100 Frequency(Number of stocks) a) What are the mean and median rates of return b) What are the variance and standard deviation of the rat..
The objective function measures profit, it is assumed that every piece stocked will be sold. constraint 2 measures time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions.
Suppose the above government is producing $600 of real GDP, whereas the potential real GDP (or full-employment real GDP) is $700. How large is its budget deficit Its cyclically adjusted budget deficit
Briefly describe the strategy
calculate the size of the labor force, the labor force participation rate, and the unemployment rate by using population:100,000 Employed:60,000 Unemployed:3,000
Alternatively, he estimated that he could sell an extra 1,200 hamburgers per day by keeping the restaurant open for two more hours per day at a cost of $50 per hour. Which of these two alternative ways of increasing output should Mr. Wilson use
You are the manager of a monopoly, and your demand and cost functions are given by P = 200 - 2Q and C(Q) = 2000 + 3Qsquared, respectively. a. What price-quantity combination maximizes your firm's profits
At a student café, there are equal numbers of two types of customers with the following values. The café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot p..
Calculate monopoly output, price, and maximum profit when the market demand curve is QD = 20 - 2p, MC = 4Q, and TC = 2Q2. If a new innovation enables the monopoly to cut its costs by 50%, but it costs $50 to adopt this innovation.
Abby consumes only apples. In year 1, red apples cost 1$ each, green apples 2$ each, and Abby buys ten red apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 10 green apples.
Suppose that real GDP is $1,500 and potential GDP is $1,200, while the marginal propensity to consume is 0.8. If the government is going to engage in government spending and change taxes. If the government increases taxes by $20, how much will it ..
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