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Suppose the formerly competing ?rms in question 3 form an employers' association that hires labour as a monopsonist would. Describe verbally the effect on wage rates and employment. showing the monopsonistic wage rate and employment level as W2andQ2, respectively. Using this monopsony model, explain why hospital administrators sometimes complain about a shortage of nurses. How might such a shortage be corrected?
Which of the following statements best describes the retail market for electricity - Estimate the (own) price elasticity (of demand).
When thinking about the theory of the firm, shirking, and principle-agent problems, we can find analogous situations in our personal lives. Make a Power Point presentation (for sharing with the class) two personal situations to illuminate this con..
. Show how the Fed would increase M1 by 1 million dollars by changing the reserve ratio. Show how the Fed would increase M1 by 1 million dollars through open market operation.
Prepare your slides as soon as you have a good final draft. Preparing the slides will help you see any weaknesses in your paper.
Why did president Obama want to repeal the Bush era tax cuts on upper income taxpayers How would the repeal of these tax cuts impact aggregate demand and to what degree? How did the economic conditions in 2010 make such a repeal less likely to tak..
Consider two firms X and Y that produce identically tasting cold drinks. In order to raise the demand for its cold drink, firm X raise its advertisement outlay.
The atmospheric pressure of 100k Pa acts on the other side of the piston. The gas is heated until the volume is doubled and the final pressure is 500 kPa. Calculate the work done by the gas.
How much revenue does McBurger currently earn based on the information above and is McBurger maximizing its revenues
The Swiss pharmaceutical global corporation Hoffman-La Roche has made a major breakthrough in the relief of a serious disabling disease that affects 3 percent of the world's population. Its new product Tigason is the first product that effectively..
Assume that the book printing industry is competitive and starts in a long-run equilibrium. Make a diagram describing the typical company in the industry.
1. What are the four areas from which capital can be obtained to expand assets 2. What is the advantage of long term debt (bonds) verses short term debt (current) 3. How can you determine when a bond comes due 4. When emergency loans are taken, when ..
Describe what is meant by the Gold Standard and what were the problems with the gold standard?
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