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Your employer decides to institute a new compensation scheme next year. They will pay you $25,000 no matter how much you work. However, since they employ nothing but workers who earn at least double the minimum wage, they will cut wages by 50%.
a. Draw this in terms of a budget constraint (what does it look like?).
b. What will this new compensation scheme do in terms of work effort (such as hours worked per year for the company)?
You have $1000 to invest over an investment horizon of three years. The bond market offers various options. You can buy (a) a sequence of three one year bonds (b) a three year bond or (c) a two year bond followed by a one year bond. The current yield..
XYZ Computers company has a monopoly on the sale of a specialized color printer. If it sells two of these printers its total revenue is R1,000, and if it sells three color printers its total revenue is R1600. The marginal revenue of the third colo..
qq.here is my question i need help with monopoly in the market for news. the cnn is considering offering articles to
How can these leaders use their control over current taxes, subsidies and government debt to force their successors to reduce steady -state government expenditures below 900,000 goods.
Imagine the number of unemployed is 6,135 and the number of employed is 27,433. Then, 3,225 people that were considered unemployed become discouraged and stop looking for a job. What would be the change in the unemployment rate as a resul of this?
If the wage rate for his primary job increases to $22 per hour, will Ralph increase or decrease the number of hours he works in the secondary job?
What are the fixed costs? What are the variable costs? What is marginal cost? [Hint: for the marginal cost, consider making a small table and determine marginal cost for different values for Q.] Derive relationships for AFC, AVC, and ATC. What is ave..
Suppose quantity demanded for the good rises by 10 units at every possible price while at the same time quantity supplied falls by 5 units at every possible price (with the exception that quantity supplied cannot drop below zero units at any price..
Thinking of your own consumer tendencies, provide an example and explain how the law of diminishing marginal utility applies to your personal consumption patterns and how the utility-maximization rule and the income and substitution effects play a ro..
A college student has been looking for tires and has found the following: Tire Warranty for Tire A is 6 months at a price per tire of $31.59. What is MONTHLY worth/cost of Tire A if we consider annual interest rates are at 10%?
George and Ellen operate a business and make a profit. Is this good or bad? Would it have been better if they had made a loss? Explain. How do people earn income? If you purse a career and become incredibly rich, have you done so at the expense of ot..
Suppose that a firm is using quantity k of capital input and quantity l of labor input to produce output level q0. Further suppose that, at this input combination, the rate of technical substitution (RTS) is 2. Assume also that w = $1 and v =$1, wher..
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