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a. Consider the following equations: LD = 400 - 8W and LS= 4W; where the notations have their usual meanings. What is the maximum wage rate the firms will offer in this market? What is the maximum number of workers required in this market?
b. Use the equations to solve for equilibrium wage rate and workers in this market and show those on the graph.
c. Suppose a $1 tax is imposed on the producers/employers in this market. What happens to the wage rate? What happens to the number of workers employed after the tax is imposed.
Contrast the ideas of nominal GDP and real GDP. Why is one more reliable than the other for comparing changes in the standard of living over a series of years? Apply the concept of a price index to comparing the rise and fall of gas prices over a sev..
What is the best way to test for DHCP server errors when the DHCPD service fails to start?
What are the economic effects of tariffs and quotas?
Synthesize the primary ways in which consumer and provider incentives work together to achieve cost reduction under the Affordable Care Act (ACA). Provide at least one (1) example of such synthesis to support your response.
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 130 - 0.25P, and the marginal cost of production is $160. Determine the optimal number of units to put i..
Every 1 percent reduction in the level of particulates in the air costs $200,000. Low-income residents in a region have a demand for particular reduction of R=10-p (R is the level of particulate reduction and P is the price per 1 percent reduction). ..
a.) Find the inverse demand curve. b.) How much consumer surplus do consumers receive when PX=$45?
Each of the following statements is related to the AD-AS model. Using the labels below, decide whether each statement refers to the aggregate demand curve, the short-run aggregate supply curve, or both. Represents a change in consumer response as ove..
Ear Us production function is Q=KL. The company over the years uses input rates of 60 and 75 for capital and labour respectively. The price of capital is $40 and labour is $35 per ear phone. If $58000 is allocated to production, what is the maximum o..
What is the opportunity cost of producing a bottle of fizz in France and in Germany? In which country is the opportunity cost of producing fizz higher?
Define a Hypothesis? How many types of Hypothesis there are? Please elaborate with examples for each.
Illustrate what factors contributed to Hong Kong Disney's poor performance during it's 1st year
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