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Unemployment that occurs as a result of a harvest schedule or in industries that slow or shut down for a season. (Ski instructor, field worker, Mall Santa) is in general referred to as?
In practice, the government would have to be very knowledgeable to divide up the pollution abatement between the plants in the least cost manner. Tradeable pollution permits are one way to get around this concern. Briefly explain why.e. If polluti..
Use an appropriate diagram, demonstrate and describe briefly how a increase in minimum wage could result in higher employment in a monopolistic labor market.
1. Consider the linear demand function Q=320-1/8P a. Write the inverse demand function. b. Write the Total revenue function.
Grocery stores and gasoline stations in a large city would appear to be examples of competitive markets there are numerous relatively small sellers, each seller is a price-taker, and the products are quite similar.
Movie theaters generally charge the same ticket price for all movies with evening show times, regardless of popularity. This pricing strategy causes surpluses for unpopular films & shortages for popular films.
Australia can produce 36 thousand tonnes of apple or 12 thousand tonnes of orange in a year. During the same one year period, New Zealand can produce 18 thousand tonnes of apple or 18 tonnes of orange.
Assume x and y are the only two goods a person consumes. If after a rise in p x , the quantity demanded of y decreases, one could say
Starting salaries of economics majors have a mean of $47,000/year with a standard deviation of $8,000. What is the probability that a random sample of 100 majors will have an average salary of more than $50,000 year?
Illustrate what recommendations do you have for Speedy to offset the impact of their increasing costs. What recommendations do you have for Speedy to increase their total revenues.
Suppose there are n identical firms in a market. each firm's cost function is given by C= 240+14q^2, where q is the amount that an individual firm produces. this means that an individual firm's marginal cost is given by MC = 30q. Also, the market ..
A rise increase in elasticity of demand will also rise monopoly power.
James Pizzo is president of a company that is price leader in the industry; that is, it sets the price and the other firms sell all they want at that price.
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