Reference no: EM131094435
A. Consider what affects the size of the scale effect (assume that the two types of labor are union and non-union labor.) As the scale effect increases, ceteris paribus, union and non- union labor are more likely to be gross complements (what does the union want?).
1. The union share of total costs. As this increases, the scale effect is larger (why?)
2. The price elasticity of demand for the good that is being produced. As this increases, the scale effect is larger (why?).
B. Consider what affects the size of the substitution effect. As the substitution effect increase, ceteris paribus, union and non-union labor are less likely to be gross complements (what does the union want?).
1. How easy is it to substitute non-union for union labor? As it becomes easier, the substitution effect is larger. How might unions affect this?
2. How price elastic is the supply of non-union labor? As it becomes more elastic the substitution effect is larger (why?) Can unions affect this?
|
University with how to increase their total revenue
: You have been hired by Nobody State University (NSU) as a consultant to help the university with how to increase their total revenue. The university has been struggling in recent years, Explain the process of revenue at NSU, focusing on the relations..
|
|
Change in resource allocation increases social welfare
: Evaluate the statement: “The only time that a change in resource allocation clearly increases social welfare is when the change represents a “win-win” situation.”
|
|
About the unit excise tax
: Which of the following is a unit excise tax?
|
|
Two types of labor are union and non-union labor
: Consider what affects the size of the scale effect (assume that the two types of labor are union and non-union labor.) As the scale effect increases, ceteris paribus, union and non- union labor are more likely to be gross complements. The union share..
|
|
One version will meet high performance standards
: Dell is considering two versions of a new laptop. One version will meet high performance standards. The other will only meet medium performance standards. If Dell knows that there are Nt techies and Nn norms, and if Dell also can identify which type ..
|
|
Corporate social marketing initiative
: What is a social issue or global issue for Marriott hotels to tackle? sing one of the three intitiaves( CCP - Corporate Cause Promotion Initiative, CRM - Cause-Related Marketing Initiative, CSM - Corporate Social Marketing Initiative). **Lengthy resp..
|
|
The term consumer sovereignty means
: How are products to be produced? Who is to decide what and how much to produce? Who is to receive the output of the system? The term "consumer sovereignty" means that: "How is the product to be distributed among people when commodities and services a..
|
|
Economic growth and productivity align with our core values
: Describe what GDP measures and some of the limitations of GDP. What is the relationship between economic well-being and social well-being (i.e. happiness)? Can economic growth and productivity align with our Core Values?
|