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1. In a perfectly competitive labor market, what will be the impact of an increase in labor productivity on equilibrium wages and employment? Diagram needed
2. What is frictional unemployment? How is it different from Disguised unemployment?
Suppose a monopolist is producing a level of output such that MR > MC. Which of the following best describes what will happen as the firm moves to its profit-maximizing equilibrium? Select one: a. Marginal revenue will rise and marginal cost will fal..
As a result of your prowess in identifying how many rolls of toilet paper a typical American family keeps on hand, you win the opportunity to choose one of the following: $1,800 today, $8,000 in 11 years, or $26,000 in 27 years. If you are offered $2..
The country of Elbonia recently consisted of 20 million people in its adult non-institutionalized population, 8 million people employed, and 2 million unemployed, for an unemployment rate (U-3) of 20% and a labor force participation rate of 50%. Did ..
What do economists call the difference between how much a consumer is willing and able to pay for a good or service and the dollar amount that he or she actually pays for it?
An oil producer has purchased a pumping unit for 30,000 and the loan is to be paid back in 24 equal monthly installments of 1,771.43 per month. calculate the normal interest rate charge for this financing arrangement. calculate the effective interest..
Using the guess and verify method, you can clearly conclude that an outcome is consistent with the concept of Nash equilibrium only if: (Explain Reasoning) You find that both players are better off in that outcome than in any other possible outcome o..
You observe a positive relationship between price that your store charges for CDs and total revenue from CDs. Is demand for your CDs elastic or inelastic.
Monopoly Price is the same level where MR meets MC. Monopoly Demand is the Average Revenue. Airline Ticket is the Peak-Load Pricing. Electricity is the Intertemporal Pricing. Amusement Park fees are the Two-Parts Tariffs.
Flawed reasoning. Identify the flaw in reasoning in the following scenarios. Explain what the individuals in the study should have done differently if they wanted to make such strong conclusions. Based on these results, the school officials conclude ..
Please provide a diagram and in-depth explanation of how the open market economy operates.. Explain the position and the role of major economic agents and markets. Explain the relevant importance of marketable securities vs. non-marketable securities..
Two physical therapy firms want to merge. The price elasticity of demand for physical therapy is -.40. Firm A has a volume of 10,400, Fixed cost of $50,000 marginal cost of $20 and a market share of 8%. How does the merger affect markups and profits?..
Suppose there are two types of persons: high-ability and low-ability. The schooling required to obtain a particular diploma costs a high-ability person $8,000 per year, and it costs a low-ability person $10,001 per year. Firms wish to use this diplom..
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