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A firm can hire 10 workers at a wage of $10 but has to pay a wage of $12 to ALL workers to get the 11th worker. What is the marginal cost of adding the 11th worker?
The employment of teaching assistants (TAs) by major universities can be characterized as a monopsony. Suppose the demand for TAs is W = 30,000 - 125n, where W is the wage (as an annual salary) and n is the number of TAs hired. The supply of..
In the Solow growth model, from an initial steady state with fixed values of A, d, and n, an increase in the national saving rate causes the standard of living to
Your cat just won the local feline lottery to the tune of 3000 cans of "9 Lives" cat food (assorted flavours). A local grocer offers to take the 3000 cans and in return, supply 30 cans a month for the next 10 years. What rate of return, in terms of n..
Explain why it is or is not possible to calculate the elasticity of demand for alcohol consumption for the state situation?
Does the government pricing mandate satisfy the Kaldor-Hicks Criterion relative to thestatus quo? Is the government pricing mandate Pareto superior to the status quo? (Usechanges in consumer and producer surplus as your measures of the value of the p..
Graph these two individual pollution demand curves and indicate the levels of pollution (both graphically and numerically) that will be produced by these plants in the absence of regulation.
two organizations one non-profit and one for-profit are considering different alternative courses of action within
Dunkin Donuts raises the price of its French Vanilla coffee by 15%. The demand for Dunkin Donuts glazed doughnuts will change by what percentage and in what direction?
Consider a market characterized by the following demand and supply conditions: PX = 15 - 2QX and PX = 3 + 2QX. The equilibrium price and quantity are, respectively, a $3 and 9 units.
suppose the price of local cable tv service increased from 16.20 to 19.80 and as a result the number of cable
Assume that the long-run aggregate supply curve is vertical at Y = 3,000 while the short-run aggregate supply curve is horizontal at P = 1.0. The aggregate demand curve is Y = 3(M/P) and M = 1,000.
1. asymmetric infomationdefine asymmetric information. distinquish between hidden characteristics and hidden actions.
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