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Q. Suppose labour demand curve of firm is W= 20 - 0.01 E where w is hourly wage and E is level of employment. Union's utility function is U= WE illustrate what wage would a monopoly union demand? Explain how many workers would be employed under union contract?
Provide an example for each about decision-making, interaction and workings of economy. Explain how that influences marginal benefits and marginal costs associated with decision to purchase a house.
Given this information, evaluate the following statement: Airlines could have the same effect on demand by eliminating their frequent flyer programs and simply lowering the average ticket price by 10 percent.
the first automobiles were built in 1901, they were manufactured by skilled workers using hand tools. Later, in 1913, Henry Ford introduced the moving assembly line, which lowered costs and speeded production.
What is the impact on the long run adjustment due to this condition. First, look at the impact of the market and then the single firm. What does it do to economic profits or losses, then what happens in the market.
Fifty years later, the federal resources for public education shows approximately 10% of the public education budget.
If there is a 10% decline in the cost of women's fur coats and a 25% increase in quantity demanded Illustrate what is the elasticity.
If the government faces an AD Shortfall of 100 billion dollars and finds that the marginal propensity to consume is 0.8, elucidate what will be the desired fiscal stimulus.
Elucidate what happen in the short run to market supply and demand curves, market price, the firm's output, the firm's profit.
List out at least one policy action that the Federal Reserve has taken to confirm that direction. Explain the effects of monetary policies on the economy's production and employment.
Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry.
Derive the total supply function of X for the industry assuming that the industry operated under perfect competition.
Forestry products account for nearly 3 percent (%) of Canada's GDP also 14.1 percent of its exports.
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