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Assume labor market demand is given by: lD = 10 – w and labor market supply by: lS = w – 2. Suppose that a union has a monopoly in the supply of labor. Suppose also that the goal it has decided to pursue is to maximize the wage bill. In this case, what is the quantity of labor it will offer? (NOTE: Write your answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. HINTS: Sketch the Marshallian “cross” diagram of supply and demand to help you answer this question. Remember, this is a labor market, not an output market.) Show all steps.
Legal and ethical issues can arise in any organization. How might these be different? What sort of relationship exists between the two? Provide an example of each from current events. What might the organizations involved have done differently to..
You are the manager of a midsized company that assembles personal computers. You purchase most components – such as random access memory (RAM) – in a competitive market. Based on your marketing research, consumers earning over $80,000 purchase 1.5 ti..
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price ceiling of $10 is imposed, what will be the resulting full economic price?
The smaller the price elasticity of demand, the
Further assume that they are not able to ‘collude' on price and quantity of premium digital channel subscriptions to sell. How much profit will each firm earn when this market reaches Nash equilibrium.
“Economic profits result whenever only a few large competitors are active in a given market.” Discuss this statement using an example for illustration. Response is due not later than midnight October 23.
Last year Jamison had EVA® net income of $200,000, cost of capital of 10 percent, and EVA® capital of $750,000. Determine the firm's economic value added.
One has yearly income $10000, the other has yearly income $90000. Illustrate what is the Gini coefficient for this society.
Pick an existing or proposed environmental policy. Use market failure theory to explain or justify the policy. Then use public choice theory to provide a possible alternative explanation for the policy.
In the country of Mainia, GDP consists of cranberries and maple syrup. In 2000, 50 units of cranberries are sold at $10 per unit, and 100 units of maple syrup are sold at $5 per unit. If the price of cranberries was $5 per unit and the price of maple..
q.the world is composed of two economies the european union and the united states. one of the european firms has a
What exchange is Netflix listed? What are the listing requirements for that exchange and how does Netflix compare to those requirements?
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