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Consider an economy where, consumer's utility function is given as U(C,L)=C-(1/2)L2 . where C is consumption and L is labor. The production technology is Y=(1.6)L-(1/2)L2. The turnover cost per labor is (0.36)/(w/p) (a) What happens to t as real wage increases? Give a clear intuition (b) What happens to t as labor increases? Give a clear intuition (c) Write down the firm's maximization problem and solve it. Find real wage, labor. (d) Write down consumer maximization problem and solve it. Derive labor supply curve (e) Find real wage, employment, output and unemployment in this economy. (f) Illustrate the solution graphically using Labor Supply / Labor Demand and Production Function diagrams
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The times spent studying by students in the week before final exams follows a normal distribution with standard deviation 8 hours. A random sample of four students was taken in order to estimate the mean study time for the population of all studen..
write a 4-6 page 12 point font double-spaced essay evaluating the role of governments in assuring that developing
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If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $1000 deposit?
What is the effect of the United Arab Emirates' increasing sovereign wealth funds on GDP?
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