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Suppose a drop in the compensating wage differential between risky jobs and safe jobs has been observed. Two explanations have been put forward:
a. Engineering advances have made it less costly to create a safe working environment.
1) The phenomenal success of a new reality show “Die on the Job!” has instilled millions of viewers with an idealistic perception of work-related risks. Using supply and demand diagrams show how each of the two developments can explain the drop in the compensating wage differential.
2) Can information on the number of workers employed in the risky occupation help determine which explanation is the right one?
Discuss one (1) recent price change that you have noticed while visiting your local supermarket. Determine whether or not the price change that you identified was a result of a change in either supply or demand.
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The marginal damage to your neighbor's business is a function of how many alligators you keep and the amount of money spent on a fence that separates your properties:
Explain how much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 1 percent.
Assuming that wheat and barley both sell for $1, and income is $20, compute the price elasticity, cross price elasticity and income elasticity for wheat.
Do you agree or disagree with the statement that: "A monopolist always charges the highest possible price."? Explain. b.) Why can't an individual firm raise its price by reducing output or lower its price to increase sales volume in a purely competit..
If in some country personal consumption expenditures in a specific year are $50 billion, purchases of stocks and bonds are $30 billion, net exports - what is the country's GDP for the year?
Elucidate he is considering hiring students on a part-time basis for $40/hour, do you think he should do so.
The two economies are so far apart that they don't share ideas and each evolves as a separate roomer economy.
The narrator is consumed by the idea that human begings do not actually have free will. How is his free curtailed on the nadir, and how does he fight back.
If a rise in incomes is the same proportion for both low-income and high-income workers.
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