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Union Issues: Closed-Shop, Free-riders and Right-to-Work
What are some important union issues today? What do closed-shop, free-rider and right-to-work mean?
Union wage advantage
What is the estimated size of the union wage advantage? How might this advantage diminish the efficiency with which labor resources are allocated?
The questions posed are broad and open ended so be careful to allow yourself enough research and planning time.
In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q=180-10P, where P is in dollars.
Use our discussion of price discrimination to justify this argument. What problems do you envisage in implementing the policy?
What price and quantity will the monopolist produce at if marginal cost is a constant$4 ? Compute the dead weight loss from having the monopolist produce, rather than the perfect competitor
Suppose we have a competitive market for a good with domestic demand and supply given by:
These costs are depends on a budgeted volume of 80000 units developed and sold every year. Lafluer uses cost-plus pricing methods to set its target selling price.
What happens to his consumption of Y? Calculate the coefficient of price elasticity and of cross price elasticity. Also draw the demand curves for X and Y, noting the equilibrium points for this consumer before and after the price change in X.
Illustrate the notion that people are rational respond to incentives consider an experiment conducted by researchers at St. Luke's Roosevelt Hospital in New York City.
In an article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production-Explain how advertising can be employed to allow Tots-R-Us to keep price average above cost without encoura..
You are the manager of a firm that manufacturers front and rear windshields for the automobile industry. Due to economies of scale in the industry
Graph the accompanying demand data, and then use the midpoint formula for Ed to determine price elasticity of demand elasticity of demand.
The impact of changing from a federal income tax to a federal consumption tax would be:
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