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Question: Large telecom companies like AT&T routinely send repair technicians to customers' homes. Although they are skilled laborers, they must usually train on the job, so it takes some time for them to reach a high standard of quality. In addition, their work cannot be constantly supervised. Explain why an efficiency wage could help telecom companies to increase the productivity of repair techs.
Assume there is a duopoly with the following demand equations Q1=30-P1+P2 and Q2=30-P2+P1. Marginal cost are given as MC1=6, MC2=0.
You are a member of the Presidents Council of Economic Advisors. The economy is experiencing high inflation, rising unemployment, a falling dollar.
How do you choose between log-linear model and log-log model? How about linear log-linear? And how about linear-log and log-log? Why? How do you interpret coefficients of a A) log-Linear B) log-log c) linear-log model?
Jack's faces the following demand function for its Jack in the Boxes: Q = 13000 - 8P. Jack produces the Jack in the Boxes in two facilities.
Three firms are considering entering a new market. The payoff for each firm that enters is 150/n, where n is the number of firms that enter.
At the same time the unemployment rate remained at 8.3%. Use your understanding of the labor market to explain how these two things could happen at the same time.
Demand and supply schedules
Create new innovative service that will help to create both customer loyalty and health which will help to create financial growth for company and shareholders.
Suppose the U.S. and Mexico both produce 2 goods, tablets and cereal, using 2 inputs, capital (K) and labor (L). The production of tablets is capital-intensive, and that of cereal is labor-intensive. The U.S. is a capital-abundant country, and Mexico..
In the graph below, assume that the market demand curve for labor is initially D1. The market supply curve for labor is indicated with figure "S".
The present value of a future sum will rise with the fall in the
Price Elasticity of Demand facing you in your scenario, including actual calculation of it using the midpoint formula. If you can't find data, then determine the Price Elasticity from the Characteristics and make up numbers to use.
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