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The City of Seattle is increasing the minimum wage to $15 an hour. Bob's Bento is a restaurant in the city. Which of the following is not a likely outcome? Bob's Bento will charge higher prices to their customers. Bob's Bento may close its Seattle location. Bob's Bento might invest in automation. Since every business has to follow the same law, Bob's Bento ownership makes no changes.
An increase in the price of sodium carbonate, a chemical compound used in detergents will:
suppose there are 50 honey producers in the market. What is the equilibrium price of honey? How much profit does an individual producer make in a month?
Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker uses one computer, he can inventory 150 items per hour. If you assign three ..
Two siblings, Sarah and Tom are playing a simultaneous hit and tell game. Sarah can hit Tom or not and Tom can tattle on Sarah or not. Relative to no hitting and no tattling, if Sarah hits Tom, and he tattles they both experience a loss of 10. If Tom..
A paper company dumps non degradable waste into a river that flows by the firm's plant. The firm estimates its production function to be.The state environmental protection agency plans to impose a $7.50 effluent fee for each gallon that is dumped.how..
Explain the meaning of a Nash equilibrium when rms are competing with respect to price. Why is the equilibrium stable? Why dont the rms raise prices to the level that maximizes joint prots? What is the DWL in this model?
Suppose government spending was $3.70 trillion, tax revenue was $4.50 trillion, GDP was $14.04 trillion, and total consumer spending was $10.70 trillion. (Instructions: Round your answers to two decimal places and include a negative sign if necessary..
Compare and contrast your chosen websites: which website is more likely to be successful than the other, and why and How well does the website personalise the experience for users?
Consider an economy with a representative consumer whose preferences are represented by the utility function: Solve consumer and firm’s problem and find the competitive equilibrium. Check to make sure that all conditions required for a competitive eq..
The USPS operates a network of more than 31,000 post offices. The majority of these post offices do not generate revenues sufficiently high in relation to costs to justify keeping them in operation. If the USPS were truly a private firm, many of thes..
Two firms are ordered by the federal government to reduce their pollution levels. Firm A’s marginal costs associated with pollution reduction are MC = 20 + 4Q. Firm B’s marginal costs associated with pollution reduction are MC = 10 + 8Q.
If a contractor decides to deviate from this agreement, what would the optimal deviation be?b. Suppose that M = 10 and C = 1. For which values of "delta" is this a subgame perfect equilibrium of the infinitely repeated game?
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