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Q. If a firm faces a shortage of workers with very specific skills, it may decide to undertake the necessary training itself. If on the other hand, i faces a shortage of unskilled workers it may well offer a small wage increase in order to obtain the extra labor. 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 along the supply curve. a. Use demand and supply diagram to illustrate each case, and explain each of your diagrams.Given that elastically of supply is different in each case, do you think that these are the best policies for the firm to follow and give reasons for your answer?b. What would happen to wages and economic rent if it used the second policy in the first case?c. Outline any two reasons, why the marginal revenue product differs between workers in different jobs.
illustrate what can you determine about the market for wheat.
The function for the net exports is NX=200-100e, where e, is the exchange rate, and the exchange rate is initially 1.0.
Suppose the monopolist is regulated to charge a rate which covers all unit cost and total cost, what is this rate and how many units will the monopolist produce?
Raw materials cost for part is $150, and value added in manufacturing 1 unit from its components is $300, for a total cost per completed unit of $450. How many units of part are held, on average as pipeline inventory.
Explain how banks are financial intermediaries. What are reserves? What are excess reserves? Explain how the Fed can affect the quantity of excess reserves in the banking system. Your response should be at least 75 words in length.
Elucidate how does a industry conclude its prices also the quantity of labor required in the resource marketplace during a specific period
Explain how a bill become a law in order.the bill goes back to the floor of the senate for consideration. the house committee, compairised of members from both houses of congress,works outany differences concerning the bill.
In terms of the consumer theory set forth in this chapter, can you explain the meaning of the following statements? a. "I think you get more for your money from Nike than from Reebok." b. "I wanted to buy a Boxster rather than a Malibu, but it just w..
Use the calculator to answer the question below. With a new government tax of $20 per carton, illusrtae what is the equilibrium quantity of cigarette cartons.
we dot know whether the total quantity of Internet ads will increase or decrease. Is the students analysis correct? Illustrate your answer with a demand and supply graph.
May be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs).
What would be the subsidy required to get Mr. Smith to perform the efficient amount of gardening? Now assume that Mr. Green, another neighbor, doesn't like the garden. He bears a marginal damage, which is given by MD(h)=2
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