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Labor Demand Elasticity and Total Income. Suppose a union s objective is to maximize the total income of nurses (total money spent by firms on nurses). At the current wage, the price elasticity of demand for nurses is 0.75 (in absolute value).
a. Should the union increase or decrease the union wage? Explain.
b. Is there a trade-off between wages and total employment?
The Clap Chemical Company needs a large insulated stainless steel tank to expand its plant. Clap has located such a tank at a recently closed brewery. The brewery has offered to sell the tank for $15,000 delivered.
Unique Creation holds a monopoly position in the production and sale of magnometers. The cost function facing Unique is estimated to be TC= $100,000 + 20Q a. what is the marginal cost for Unique c. what is the marginal revenue at the price compute..
when he purchased his home, al silva borrowed $280,000 at 10% interest to be repaid in 25 equal end-of-year payments. After making 10 payments, Al found he could refinance the balance due on his loan at 9% interest for the remaining 15 years.
1. Job A pays $30,000 a year. Job B is completely identical in all aspects except it is located in an area that has a 10% higher cost of living. In order to compete, Job B would need to pay. This is known as a. 2. Explain the difference ..
a firm hires four workers and rents 10 capital units for a operationg period. it produces 12000 units. if it had
What constitutional provision provides the better support the Commerce Clause or Fourteenth Amendment and why?
The number of days it takes to travel around the equator using a hot air balloon, if the balloon averages 100 miles per day, the diameter of the earth is ~4,000 miles.
a. If Firms B and C propose a merge, would the Antitrust Division likely challenge the merger Why or why not b. If firms G and H propose a merger, would the Antitrust Division likely challenge the merger Why or why not
elizabeth M. suburbs makes $200 a week at her summer job and spends her entire weekly income on running shoes and designer jeans, because these are the only two items that provide utility to her.
Government output is sometimes considered fixed, with a goal of minimizing the cost of providing that output. Thus, it is thought that when faced with an increase in the cost of labor, government costs go up in the short run, but adjust downward i..
You are willing to pay at most $200 for a copy, but can't find one at that price until one day in a used bookstore you see a copy selling for $10, which you immediately buy. Are you being irrational if you keep the copy rather than sell it?
At what salary would it make sense for this firm to hire an incompetent manager?
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