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A coal mine operates with a production function Q = L/2, where L is the quantity of labor it employs and Q is total output. The firm is a price taker in the output market, where the price is currently 32. The firm is a monopsonist in the labor market, where the supply curve for labor is w = 4L.
a) What is the monopsonist's marginal expenditure function, MEL?
b) Calculate the monopsonist's optimal quantity of labor. What wage rate must the monopsonist pay to attract this quantity of labor?
c) What is the deadweight loss due to monopsony in this market?
If an editorial says that Americans are saving at loweramounts ie, 20 years ago the average savings rate was 20% ofdisposable income. The editorial predicted that thiswould drop to 5 percent in less than five years.
question 1 - a cross-sectional studythe data you need for this question is on the sheet companies. there are figures on
1. One year ago, you bought a bond for $10,000. You received interest of $400 at the end of the year, as well as your $10,000 principal. If the inflation rate over the last year was five percent, calculate the real return.
A company is considering building a bridge across a river. The bridge would cost $3 million to build and nothing to maintain. The anticipated demand over the lifetime of the bridge is x = 800 - 100p, where x is the number of crossings (in thousand..
the tricities bus company is a regional bus line providing transit service between coquitlam port moody and port
Which one innovation do you think has increased productivity the most? List two innovations since 1990. How might they have boosted productivity?
Consider a bank that has assets of 100, capital of 20, and short-term credit of 80. Among the bank's assets are securitized assets whose value depends on the price of houses. These assets have a value of 50. Set up the bank's balance sheet.
Make a graph to illustrate the market for tomatoes in January 2009 and January 2010.
The Importance of Economics for Health Care Leaders
What additional procedures would an auditor perform if a majority of sales came from a single customer?
Based on your calculations in completing the table in Question 2, what is this manufacturer's minimum cost output level? Explain your answer.
Suppose you are currently earning $15 an hour. If the inflation rate over the current year is 10 percent and your firm provides a cost-of-living raise based on the rate of inflation, what would you expect to earn after your raise? If the cost-of..
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