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The year is 2035. In many occupations, robots are replacing humans. As it turns out, robots make very good house cleaners, but very poor ski instructors.
Assuming the other determinants of demand for the two services are roughly similar, you would expect the demand for human ski instructors to be(more elastic than, less elastic than,equal to elastic than,derived from) the demand for human house cleaners.
One factor that affects the elasticity of demand for labor is the elasticity of demand for the product itself.
The lower the price elasticity of demand for a product, the (higher or lower) the elasticity of demand for labor.
According to the life-cycle/permanent income hypothesis, consumption depends on the present discounted value of income. An increase in the real interest rate will make future income worth less, thereby reducing the present discounted value and reduci..
If the price elasticity of demand in the United States for American-made luxury cars is 1.9, what is the impact on revenue if the price increases by 10%?
Why was the xerox corporation chosen to be in the top 100? what has been the company's history as rewards outsourcing as a source of revenue? and how does the firm describe, or imply its value proposition?
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1’s elasticity of demand is -4, while group 2’s is -3. Your marginal cost of producing the product is $20. Determine your optim..
In a competitive market, the quantity of a product produced and the price of the product are determined by A. sellers. B. buyers. C. both buyers and sellers. D. None of the above is correct.
Employee pension funds have a total worldwide value of $13 trillion and U.S. pension funds have over $7 trillion in assets invested in stocks, bonds, and other instruments—this is labor’s capital. To promote employee ownership unionism, one suggestio..
Explain how complicated fares and the perception of inequity between two different passengers might hurt the credibility of airlines. Include as much detail as possible in your answer, but focus your answer on who earns frequent flyer rewards, and ho..
The Supply curve
If the economy is operating at a point less than full employment (as it is now), what would we want to see happen to GDP? For right now, let's just look at the C (consumption) component of our GDP equation. What would we want to see happen to consume..
It would not pay a firm to produce anything in the short run if price were:
q.russell owns 30 percent of the outstanding stock of thacker and has the ability to significantly influence the
The financing of a government deficit increases interest rates also, as a result, reduces investment expenditure.
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