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There are one firm and two types (low-ability and high-ability) of workers. The cost of attending a college is $8,000 for a high-ability person and $20,000 for a low-ability person. The value of high and low ability workers for the firm is $50,000 and $30,000 respectively. The proportion of each type in the population is 1/2.Available actions for the firm are:F1: Pay $32,500 regardless of worker's college educationF2: Pay $40,000 for college graduates and $25,000 for those who do not attend a collegeAvailable actions for a low-ability worker are:L1: Attend a collegeL2: Not attend a collegeAvailable actions for a high-ability worker are:H1: Attend a college H2: Not attend a collegea. What is a Nash equilibrium? What is this equilibrium called?b. Suppose one action for the firm (F1) is replaced by Pay $25,000 regardless of worker's college education. What is a Nash equilibrium? What is this equilibrium called?
In national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving?
A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find out that consumers won't buy it because they don't like the taste. From an economic prespective, the company should
discuss why this might happen. Suppose that labor and management agree to adjust wages continuously for any changes in the price level. How would such adjustments affect the slope of the aggregate supply curve
Suppose that the income effect of the tax induced price change is negligible, the excess burden of the tax will be.
Based on this information, what would be the nonpecuniary cost of legislation that would place a $1.50 cap on the fees banks can charge for noncustomer transactions?
One person-day of labor produces: China 9 rice 3 computers India 4 rice 2 computers a) Does any country have an absolute advantage If so, which one b) For India, what is the resource (or opportunity) cost of rice (R) in terms of computers (C), and C ..
1. How could the organization create more value for its stakeholders? 2. Which of the four future freight flows should it prepare itself for? 3. What should the organization do to prepare for the future flow(s)?
In your own words, is the blood an organ or a tissue? Explain why or why not. Why is plasma protein important to a healthy blood supply? Can it be donated?
imagine there are two polluters of a given substance with the following marginal-abatement cost functions mac1200-e1
1. what are the current values of the three main macroeconomic indicators?2. why does it matter whether the tax rate
suppose that the natural rate of unemployment in a particular year is 4 percent and the actual rate of unemployment is
give answers for below questions in detail....nbsp nbsp nbsp nbspa show how to find equilibrium in an rc model
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