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a. What happens to hours of work when non-labor income decreases? Does such a non-labor income change generate a substitution effect?
b. Why might we expect welfare programs create work disincentives?
c. What happens to the probability that a particular person works when the wage rises? Does such a wage increase generate an income effect?
A firm's demand function is defined as Q = 14 %u2013 2P. a) Use this function to calculate total revenue when price is equal to 3 and when price is equal to 4. b) What is marginal revenue equal to between P=$3 and P=$4?
The price of gasoline rising increasing the quantity demanded of the Toyota hybrid Prius, thus gasoline and the Toyota Prius are: (10 points) (Hint: What is the key fuel of the Toyota Prius) a.) Substitutes b.) Complements c.) Not related d.) Superio..
from the e-activity propose a methodology for assessing the risk in business contracts. assess the economic impact this
Suppose the owner of the trawler can sell al the fish caught for $75 every 100 pounds also can hire a man crew members as desired by paying them $150 every week.
Illustrate what would be effect of policy described in part (c) on economy's stability over business cycle.
Illustrate and explain the changing demand for Big Mac using indifference curve and budget line.
q1. if the ad shortfall is 800 billion and the mpc is 0.8a explain how large is the desired fiscal stimulus?b explain
What is the efficient number of crabbers - suppose the government wished to promote efficiency in crabbing by requiring crabbers to purchase licenses. How much should they charge (per day) for a license?
In the fall of 2002 the Fed voted to decrease the federal funds rate target on several different occasions, reducing it from 3% to 1.75%. What action in the "open market" would the Fed's trader have had to take, other things equal, in order to induce..
Draw the average and marginal revenue curves and the average and marginal cost curves. What are the monopolist’s prot-maximizing price and quantity? What is the resulting prot? Calculate the firm’s degree of monopoly power using the Lerner index.
How might this impact stock price in the short term? How do you believe that management deals with these two sometimes competing goals?
Jim Vendors is viewing about manufacturing a new type of electric razor for men. If advertise were favorable, he would get a return of $100,000.
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