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Explain important terms of marginal productivity and wage inequality
Marginal Productivity and Wage Inequality:
a. Market power
• Compensating Differentials
• Danger/Unattractiveness of Job
• Talent/Human Capital
b. Unions
Collective Bargaining
c. Efficiency-wage model
Nanny Example
d. Discrimination.
Substitution Effect on law of demand When price of a commodity falls it becomes comparatively cheaper if price of all other related goods, particularly of substitutes, remain c
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Limits on the process of bank deposit creation On the demand side , there may be a lack of demand for loans, or at least of borrowers who are sufficiently credit worthy .
what is monotonisty
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In the country of Sleep-well, the inhabitants' main activity is... sleeping. Despite the loss of productivity that this entails, the country has a profuse and renowned production o
Question : i) Consider a discriminating monopolist is selling a product in two separate markets in which demand functions are: P 1 = 6 - Q 1 P 2 = 18 - 2Q 2 The mono
what is market
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How Income level must remain constant - law of demand The law of demand operates only when income level of the buyer remains constant. If income rises when the price of commod
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