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List four shift factors of demand and their effect on demand.
a. Shifts in demand for the good. An increase in the demand for a good shifts the demand for labor to the right.
b. The development of new technology. The effect is ambiguous. Other things equal, the demand for workers who do not know the technology will shift to the left. Other things are often not equal. To the extent that the new technology requires building new machinery or leads to great consumer demand, labor demand might increase.
c. The elasticity of demand. The more elastic the demand, the more the demand curve for labor will shift to the right.
d. The type and prevalence of unions. Unions shift the demand for labor curve to the right. e/The cost of competing factors of production. A rise in the cost of competing factors shifts the demand for labor to the right.
f. Market structure. The more the market is monopolistic, the lower the demand for labor. k/The wage rate. A rise in the wage rate shifts the demand for labor to the right.
The law of diminishing marginal utility states that as an individual increases consumption of a given product within a set period of time, the utility gained from consumption eventually declines" Examine whether the statement above is true or false. ..
q1. explain why do some economists consider that better inventory control software as well as systems might help to
Analyze the reasons for and against the merger and assess the actual performance of the consolidated company against the pre-merger expectations.
Interest rates on U.S. treasury bills are typically much lower than interest rates on U.S. treasury notes and bonds. If the federal government wants to reduce the interest charges it pays when it barrows money, why doesn't the treasury stop selling t..
If the government imposed a direct price regulation that did not allow a natural monopoly with constant marginal cost to charge a price higher than under perfect competition:
Assuming that the income effect is negligible, how much will he be hurt if the cost of strawberries goes from $1 a pint to $2 a pint.
When two people enter into a contract they both expect something very specific from the other, right? Does this make calculating damages, in a case of breach of contract, easy, Why or why not?
Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are displayed on a screen.
Illustrate what output level would monopolist produce. Illustrate what output level would a perfectly competitive firm produce.
The supply of real money balances (M/P) has to equal the demand for those balances. What happens to the price level if the demand for money decreases? Explain what must be happening in the economy to cause such a result
Explain why this budget constraint but you cannot tell anything about the MRS at this point.
QE3 followed QE2 and Operation Twist. Which of the following best explains how QE3 differed from the other two in order to make it more effective? QE3 promised a much larger expansion of reserves. QE3 gave a much stronger forward commitment as to whe..
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