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The following table lists the name, gender, height and reservation wage of 10 persons willing to work as firefighters in Timber Creek. What is the lowest wage that Timber Creek must pay to hire five firefighters? You answered the question $380/week (2m,3f), but how did you come up with the answer? Please explain. I have a similar problem to solve with different reservation wage amounts.
Suppose that Jenny is the only consumer in the antique car market. Her willingness to pay for an antique car is $200,000. Based on Jenny's willingness to pay, plot her demand schedule in the graph below using the blue points (circle symbol). Line ..
Elucidate the implication of the efficiency wage theory for unemployment. In what way are piece rates, commissions, royalties, profit sharing, and stock options substitutes for efficiency wages.
If congress decides to reduce the tax paid per pack paid by sellers of cigarettes other things being equal the cost of cigarettes will fall.
Illustrate what is included in determining any of measures of money supply. If spending increase is 80% and it increases by $40 billion, Explain how does that change GDP.
Assume that Congress imposes a tariff on imported autos to protect the U.S. auto industry from foreign competition.
one laborer can only produce either 5 unots of necessity per month or 10 units of luxury per month. On a graph draw the ppf. where does the ppf intersect on thy axis and where does the ppf intersect on the x aaxis.
What is mission of NYTHESE. Firms must pay a fee to list their shares for sale on NYTHESE. What would be fee for a firm with 5 million shares common outstanding.
How is power distributed in the U.S. political system? How does the U.S. political system reflect the distribution of power? List and discuss six ways in which urban planning can be political in nature. With references.
Manufacturer A is starting to make Gismos at an initial production cost of $95 for the first unit and has been lowering the cost with a learning rate of 79 percent. Manufacturer B also started this year with an initial production cost of $288/unit wi..
What will the equilibrium be. How do producer and consumer surplus change from the perfectly competitive case.
Suppose you consume nothing but goods X and Y. We have two years.
A farm must decide whether or not to purchase anew tractor. The tractor will reduce costs by $2,000 in the first year,$2,500 in the second and $3,000 in the third and final year of usefulness. The tractor costs $9,000 today, while the above cost savi..
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