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If an individual earns an overtime pay for over 8 hours of work, then how can this be depicted in the standard income-leisure model?
In case of higher wages for overtime work is the theory of backward bending labor supply curve always violated? Assume flexibility of preferences.
When will overtime pay not work as an incentive for increase in work hours?
Suppose Janet has an "appetizer budget" of $165 per week, which she spends on cheese and fruit. To maximize her utility, Janet will purchase.
Write down the consumer budget constraints when young also when old the consumer lifetime budget constraint the government budget constraint also the market clearing conditions.
An EOY Geometric gradient lasts for 10 years, whose initial value at EOY three is $5,500 and average rate f = 8% per year thereafter. The interest rate is 12%/year. What is P0 for the geometric gradient?
Many economists specializing in "growth theory" contend that developing countries may achieve strong economic growth by increasing the amount of capital and labor available for production, but that this type of growth strategy is incapable of support..
Just prior to a professional baseball spring training session, you are asked to assess the probability that a particular baseball team will win the coming World Series.
Pierre, a Frenchman with a weakness for champagne, recently received a raise. His income rose from $25,000 to $40,000 a year. As a result, Pierre's consumption of Andre Champagne decreased from 15 bottles a week to 5 bottles a week. Calculate Pierre'..
Briefly explain whether you agree with the following argument: "Unfortunately, Bolivia does not have a comparative advantage with respect to the United States in the production of any good or service."
Find out the optimal price-quantity if the firm is not able to price discriminate.
Explain why would a chain such as Marriott tend to own its hotels in resort areas, such as national parks, where there is little repeat business, and franchise in downtown areas.
Explain what are the implications of this for the relative stability or instability of the prices of pork and lamb compared with other foodstuffs.
If nominal GDP decreases this will:
Suppose that the comparative-cost ratios of two products—mangoes and sardines—are as follows in the hypothetical nations of Mangolia and Sardinia: Mangolia: 1 mango = 2 cans of sardines Sardinia: 1 mango = 4 cans of sardines In this scenario, _______..
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