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Discussion Question
What you do think will be the market impact(s) of the proposed increase in the federal minimum wage to $10 per hour?
a) Will the proposed increase help workers? And if so which part(s) of the labor market will be helped.b) Which part(s) of the labor market will hurt by the proposed increase? How will they be hurt?c) What will happen to the prices of goods and services produced with minimum wage labor?
What is your conclusion? Is this proposal a good idea or not? Explain why.
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A bus driver records the time (in minutes) it takes to commute to school for 6 days. These results are: 25, 22, 17, 20, 15, 10. Assuming the population is normally distributed, develop a 90% confidence interval for the population mean. What is the r..
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The monopolist chooses the quantity of output at which marginal revenue equals marginal cost and then uses the demand curve to find the price.
Consider an industry with two firms producing an identical product. Each firm has a marginal cost of 10 and a fixed cost of 20. Market (inverse) demand for the product is given by: What is the Nash EQLM of the matrix in (b)? What is each firm’s strat..
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