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Suppose a market is characterized by a unionized and a non-unionized sector. Both sectors initially have supply given by Q=10,000+25w, and demand by Q=20,000-10w, where w is the weekly salary. Find the initial equilibrium wage and labor utilization. Now, in the unionized sector, a wage of 300 is negotiated. What is the demand and supply for labor in the unionized sector? Any surplus migrates to the uncovered sector. What is the new equilibrium wage and labor utilization in that sector?
Assuming no population growth or technological progress, find the steady state capital stock per worker , output per worker, and consumption per worker as a function of the savings rate and the depreciation rate.
What would each of the following events do to the terms of trade of the importing country and the exporting country, other things being equal?
The Justice Department's anti-trust suit brought against Microsoft did not result in the software firm being required to unbundle its Internet Explorer browser from its Windows operating system.
Airlines practice price discrimination by charging leisure travelers and business travelers different prices. Different customers pay varying prices for essentially the same coach seat because some passengers qualify for discounts and others do no..
Students fascinated with your explanation and eager to learn more, ask about the shape of the demand and supply curve in each industry. Provide a demand and supply graph for each industry to explain. Label equilibrium price and quantity.
Consider the demand for mobile phones. Suppose the price elasticity of demand for the market as a whole is .80. A. If all mobile-phone companies simultaneously increased their prices, will total revenue in the industry increase of decrease
Evaluate the overall explanatory power of the regression model. Use a 0 . 05 level of significance. State all your hypotheses and explain your results. Do not use rules of thumb.
Consider another policy where the government could impose a price ceiling p on the monopolist. If the government were interested in maximizing social surplus, what would be the optimal value of p when considered from the point of view of the gover..
Summarize the differences between the four market types. Provide a general explanation of how business may maximize profit within each market type.
Dsecribe a complete business cycle (trough, peak, expansion, recession), focusing on what happens to output, investment, employment in each phase.
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
You purchased a new molding machine for $155,000 by trading in a similar machine that had a book value of $18,000. Assuming that the trade in allowance was $20,000 and that $85,000 cash was paid for the new asset, what is the cost basis of the ne..
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