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Question: 1. Suppose the wage rate dropped while the employment level went up. Which curve-supply or demand-must have shifted and in which direction to produce this effect? Assume that the labor supply curve is upward sloping and the labor demand curve is downward sloping.
2. Suppose the market for economists resembles that of engineers: It takes time to produce a new economist and prospective economists base their career decisions only on current wages in the various professions. The labor supply curve of economists, however, is much more elastic than the labor demand curve. Suppose the market is now in equilibrium, but that the demand for economists suddenly rises because a new activist government in Washington wants to initiate many new programs that require the input of economists. Illustrate the trend in the employment and wage of economists as the market adjusts to this increase in demand.
Vertical Integration and Franchising Fees. Suppose an upstream manufacturer sells a product A which he can produce for a marginal cost of 4 dollars.
Econ 348: Natural Resource and Energy Economics Problem. Calculate the project's NPV using the XNPV formula (calculates NPV that includes dates of actual costs)
Can a potential borrower obtain a loan when group lending contracts are not allowed in this economy? Briefly explain your answer.
Determine the possible circumstances under which the company should discontinue operations - Analyze the major short run and long cost functions for the low-calorie, frozen microwaveable food company given the cost functions.
Calculate the straight-line depreciation
Should a job seeker pursue a non-sequential or a sequential search strategy? Derive a job-seeker's asking wage. Discuss why the asking wage makes a worker.
You're the manager of monopoly. A typical consumer's inverse demand function for your firm's product is P=100-2Q and your cost function is C(Q)=20Q. Find out the optimal two part pricing strategy.
In terms of trading bloc characteristics, how does the EU (European Nation) compare with the 50 States in the U.S. ?
Do you agree with the following statement? Whenever the potential injurer has full control over the probability of an accident, both strict liability and simple negligence result in efficient precaution level by the potential injurer.
Suppose you have comparative advantage at baking cookies and other volunteer has comparative advantage. Explain how you can both gain from specializing and why.
Discuss how government regulation is either constraining or enabling viable business operations in any company. Apply practical examples to illustrate.
Write the equation(s) for the new budget constraint
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