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Suppose you have estimated the supply curve for the local labor market as: Qs=W-5, where W is the hourly wage and Qs is the quantity of workers willing to work at each wage. You have estimated the demand curve for the local labor market as: Qd=25-W, where W is the hourly wage and Qd is the quantity of workers demanded by employers at each wage.
a. Using algebra, solve for the equilibrium wage and quantity of labor.
consider a perfectly competitive market with an infinite number of firms. each firm has ltbrgtthe following long-run
What difference does it make, if any, if technology is moving very fast in the market so that this game proves to be one-time-only simultaneous play?
build a multiple regression model to explain the variability in the median school year. describe the goodness of fit of
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Normal 0 false false false EN-US X-NONE X-NONE Explain the multiplier intu..
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If the way wages were fixed in that job does not correspond to the neo-classical theory, is there another theory, among the ones we talked about in class, that would explain it better (i.e. another theory that could explain the way wages were set)..
Listen carefully to the following video and summarize the main points that he is making and to what extent is it related to Adam Smith's invisible hand
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