Kaufmanns offers only an hourly wag

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Reference no: EM1313957

Q1. "Steel industry suffers slump as import competition increases; unemployment rises." This type of unemployment can best be characterized in economic terms as:

Q2. Hourly wage plus the employee discount. Kaufmann's offers only an hourly wage. Do you expect Kaufmann's hourly wage to be higher or lower than Farleigh's?

Q3. The external marginal cost of producing coal is MC external = 6Q while the internal marginal cost is MC internal = 4Q. The inverse demand for coal is given by P=120-2Q. Illustrate what is the Socially Efficient Level of Output?

Reference no: EM1313957

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