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Q. Labour & Human Resource Economics Problem Set 3: Labour Market Equilibrium 1. Union A faces a demand curve in which a wage of $4 per hour leads to demand for 20,000 person hours and a wage of $5 per hour leads to demand for 10,000 person hours. Union B faces a demand curve in which a wage of $6 per hour leads to demand for 30,000 person hours, whereas a wage of $5 per hour leads to demand for 33,000 person hours. (a) Which union faces more elastic demand curve?
If the above monopolist were to behave like a perfectly competitive firm (operating in the long run), determine its output. Illustrate what is the firm's Total Revenue.
The marketplace is highly competitive, with boxes currently selling for $100 every thousand. Conigan's total and marginal cost curves.
Most macroeconomists believe it is a good thing to taxes act as automatic stabilizers also lower the size of the multiplier.
Illustrate which competitor is better positioned to take advantage of this opportunity. Assuming that neither company can segment the market.
if possible, your most preferred to least preferred type of shock: positive demand shock, negative demand shock, positive supply shock, negative supply shock. Explain how would you rank them and why.
If the company were to build the bridge, illustrate what would be its profit-maximizing price. Would that be the efficient level of output.
What is the rate of inflation of the U.S. dollar is 5% and the rate of inflation of the Japanese yen is 2%. What is the percent change in the real $/Y exchange rate.
he R. J. Jones Company is a publisher of cowboy novels - novels about the great western experience, where men were men, horses were horses also well, you get the idea.
Explain how much does the customer pay. Explain how much does the government receive as tax revenue.
Elucidate the difference among nominal and real variables and give tow examples of each. According to the principle of monetary neutrality, which variables are affected by changes in the quantity of money.
What is the equilibrium price paid by the demanders for merino ewes now. Elucidate what is the equilibrium price received by the suppliers for merino ewes.
Elucidate the evidence that supports these recommendations and how your recommendations might need to be modified for the alternative economic futures
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