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Calculating the price elasticity of supply
Brian is a college student who lives in San Diego and does some consulting work for extra cash. At a wage of $25 per hour, he is willing to work 4 hours per week. At $40 per hour, he is willing to work 10 hours per week.
Using the midpoint method, the elasticity of Brian’s labor supply between the wages of $25 and $40 per hour is approximately (0.08 or .54 or 1.86 or 17.5) , which means that Brian’s supply of labor over this wage range is (elastic or inelastic).
write an explanation of the short-run effect including the determinant of ad or as that is causing the shift the line
q. two companies a as well as b are duopolists that produce identical products. demand as well as for the products is
Given the ever-increasing age of the population and advance of medical technology, why would anyone expect the growth of medical costs to slow down in the future?
Suppose that the demand for dollars curve in the foreign exchange market is QD=100-e(Peso/$) and the supply for dollars curve is given by QS=3e(Peso/$). What is the equilibrium exchange rate? Suppose that the Fed fixes the exchange rate at e(Peso/$) ..
Two investment opportunities are as follows: For A: First cost = $150, Uniform annual benefit = 25, End-of-useful-life salvage value = 20, Useful life = 15 years. At the end of 10 years, Alt. B is not replaced. Thus, the comparison is 15 years of A v..
Based on your understanding, would a sharp increase in taxes or a decline in exports to Europe, in fact, push the U.S. economy into a recession? Explain your reasoning.
q1. if the annual real interest rate on the loans is 6 explain how many car companies will buy a new car assembly
You see an advertisement for a book which claims to show how you can make $1,000,000 in investment profits in a year, with no initial investment required and no risk of any loss. The book costs $500. Would you buy it? Why or why not?
Differentiated Bertrand. Consider a Differentiated Bertrand model in which demand is given by q1 = 100 – p1 + p2 and q2 = 100 – p2 + p1 for firm 1 and firm 2 respectively and where both firms faced zero fixed costs and constant marginal cost = c. Sup..
Assume that a household is choosing how to allocate their income (Y) over the next two years for consumption (C). Assume that Y 2016 = $100,000 and Y2017 = $0 meaning they are going to retire at the beginning of 2017, except to die at the end of 2017..
Expecting that wool prices would remain high, wool producers raised a lot more sheep.
Suppose there are two sectors of the construction industry that currently pay their employees the market-clearing wage. The demand for labor in each sector is MRPL=20-L, where L is the number of workers (in thousands). The supply of labor in each sec..
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