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Prepare an essay on "Minimum wages are likely to harm those they are designed to help". Under what circumstances could this claim be correct. What light has the empirical analysis of the effects of minimum wages cast on this issue?
Course textbook:GB. Borjas, G. JLabor Economics Chapter3
Fallon, P., and Verry, D. The Economics of Labour Markets (Philip Allan, 1988).Chapters 3 and 4
With respect to price elasticity of demand, create a graph using the information in figure 1. Illustrate the ranges on demand curve that indicate elastic, inelastic, and unitary elasticity.
Shoes For Less (SFL) hires you to estimate the demand for their shoes, and you estimate this to be: Describe the difference in the results between your results and those of original consultant.
Give some examples of waiting lines in everyday life. What decisions should managers of such systems consider? Try to consider the production line as well as waiting in the queue.
What is the approximate Herfindahl index? What is the four-firm concentration ratio?
Show how to generate a supply and demand function from a information table that includes the supply and demand information for two different price levels.
The market environment heavily effects corporate decision making ability. Define and explain the difference in executive decisions concerning pricing, product design,
Suppose the demand for computers. For each of the following, state effect on demand, find the equation of the demand curve if consumer incomes are $30,000,
General Electric has frequently placed managers together to work on teams. Often the work project is only for a short period of time.
A new item that is manufactured and consumed only in United States and France is about to be launched. In the United States, the following demand and supply curves are appropriate,
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
Discuss in general the appropriate metrics that one may require to track. Also explain how investing in IT with an eyes towards the replacement or automation of another project or issue or task may work.
The law of demand says that the price and quantity demanded are inversely related. Thus, is demand curve positively or negative sloped?
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