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Problem
1. A firm's technology is such that it must combine 5 person-hours of labor with 3 machine-hours to produce one unit of output. The firm has 15 machines in place and the wage rate rises from $10 per hour to $20 per hour. What is the short-run elasticity of this firm's labor demand?
2. Suppose that the supply curve of labor in a competitive industry is given by Es = 10 + w; and the demand curve for labor is given by ED = 40 - 4w. What is the equilibrium wage and employment? What is the unemployment rate? Suppose now that the government sets a minimum wage of $8. How many workers would lose their jobs? How many additional workers would want a job at the minimum wage? What is the unemployment rate?
When a bank's loans are written off, it means that the bank's:
Assume the government sells some of the land it currently rents out for grazing. Should the revenues received be counted as reducing the deficit? How would the transaction be treated under a capital budget?
Should food and beverage advertising to children be banned? What about for other types of products as well? Is it unethical for food companies to target their ads towards children? In a period when most parents are working, how are children to be pro..
Farmer Brown grows peaches. The average total cost and marginal cost of growing peaches for an individual farmer are illustrated in the graph to the right.
Discussion: Anxiety Disorder Treatment. Write a 1,200-1,500-word essay on the nature of your hypothesis. Be sure to provide rationale for your thoughts.
Understanding Cause and Effect What advantages might a multinational corporation bring to a host nation?
The firm's production function is y=min{2X1,X2}. The cost function of the firm is given by C=w1X1+w2X2. What are the firm's conditional input demands for input 1 and input 2? What is the firm's total cost function? Draw the graph.
What is the best method of note taking in preparing for finals?
What is meant by exchange-rate overshooting? Why does it occur? What methods do currency forecasters use to predict future changes in exchange rates?
What factors affect the fuel efficiency of cars? To what extent would increased government involvement with regard to fuel efficiency affect the behavior of manufacturers?
country a produces two goods elephants and saddles. in the year 2006 the 10 units of elephants produced sold for 2000
The following results are based on a random sample of 534 people from the Current Population Survey (CPS). The dependent variable in each regression is log(wage).A.How do we interpret the coefficients for education, male, and married in Model 2?
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