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Q. If a firm faces a shortage of workers with very specific skills, it may decide to undertake the necessary training itself. If on the other hand, i faces a shortage of unskilled workers it may well offer a small wage increase in order to obtain the extra labor. In the first case it is responding to an increase in demand for labor by attempting to shift the supply curve. In the second case it is merely allowing a movement along the supply curve. a. Use demand and supply diagram to illustrate each case, and explain each of your diagrams.Given that elastically of supply is different in each case, do you think that these are the best policies for the firm to follow and give reasons for your answer?b. What would happen to wages and economic rent if it used the second policy in the first case?c. Outline any two reasons, why the marginal revenue product differs between workers in different jobs.
Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation
Analyze the impact of this floor on price, quantity demanded and supplied. Would this price floor create a surplus or deficit of this product in the market?
At a separating perfect Bayes-Nash equilibrium, what is the maximum amount of advertising that a restaurant conducts. What is the minimum amount.
The vertical long run AS curve compatible with classical economics implies that AD only determines the price level
Electoral College system take a country named know land that has. Suppose there are 9 small states in know land where each have 1 million people in.
A flat tax plan allows individuals to deduct a standard allowance of $10,000 from their wages. Assume that the flat tax rate is 12%. Calculate the amount of income tax and the average tax rate if you were earning.
Enterprises conduct business transactions with other enterprises for a number of economic, business and strategic motivations.
Can you find a Nash equilibrium in pure strategies that is not efficient. In some legislatures, proposals for modifications of the law are formulated by committees.
Alex's Furniture Mart produces and sells tables in a perfectly competitive market. When Alex's Furniture Mart produces and sells 250 tables.
A major Statistics Canada household survey, the Survey of Labour and Income Dynamics or SLID, the latest of which is referred to as SLID 2009.
What, how and for who apply to the following the economic decision. Should the company makes its own spare parts or buy them from an outside vendor.
Assuming labour demand is downward sloping and that the labour market is competitive, what happens to national income as a result in immigration.
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