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Q. If a firm faces a shortage of workers with very special skills, it may decide to undertake necessary training itself. if on the other hand it faces a shortage of unskilled workers, it may well off a small wage increase in order to obtain the extra labour. in the first case it is responding to an increase in demand for labor by attempting to shift the supply curve. in the second case it is merely allowing a movement allong the supply curve.a. use a diagram to illustrate each case.b. outline reasons why the marginal revenue product differs between workers in different jobs.
Austria has a history of strong hostility to nuclear power, and over the last twenty years the Austrians have shut down all of the reactors in Austria
Assuming labour demand is downward sloping and that the labour market is competitive, what happens to national income as a result in immigration.
The vertical long run AS curve compatible with classical economics implies that AD only determines the price level
Who has the comparative advantage in what product. Once they specialize, how much does output increase. What are the terms of trade if the United States trades 1 can of soda for 5 units of clothing.
Does the law of diminishing marginal returns apply to this firm's production process. If so, explain why and find the quantity of labor at which diminishing marginal returns.
Suppose a duopoly and let demand be specified by P=A-BQ. In accumulation both firms have same marginal cost c. Interaction between the two firms will be frequent infinite.
Illustrate the solution graphically using Labor Supply / Labor Demand and Production Function diagrams.
Imagine that you were the president of an emerging country that is trying to reduce the number of its imports
Divide the Banzhaf power index by the number of votersin state. Are votersin small states or are votersin big state more powerful, according to this measure.
Prime Products manufactures specialized goods to customers' specifications and operates a job-order costing system.
The manager of a large automobile dealership who wants to learn more about the effectiveness of various discounts offered to customers over the past 14 months
A company's cash sales for the month are $200,000 and its accounts receivable payments for the month are $100,000. What is its total incoming cash flow.
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