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Describe wage determination in a labor market in which workers are unorganized and many firms actively compete for the services of labor. Show this situation graphically, using W1 to indicate the equilibrium wage rate and Q1 to show the number of workers hired by the firms as a group. Show the labor supply curve of the individual firm, and compare it with that of the total market. Why the differences? In the diagram representing the firm, identify total revenue, total wage cost, and revenue available for the payment of non-labor resources.
Ajax Cleaning Products is a medium sized company operating in an industry dominated through one very large firm-Tile King. Ajax manufacture a multi-headed tunnel wall scrubber that is similar to a model produced by Tile King.
Your richrelative died and left you $100,000, which you decided to use for your own Internet business and what will be your fixed and variable costs? Briefly discuss.
Explain how does the Heckscher-Ohlin theory differ from Ricardian theory in explaining international trade patterns.
Give a brief summary of the GDP trends over that timeframe and discuss two or three events which may have caused these trends.
Utilizing demand and supply analysis to assist you, what are the effects on the exchange rate between the British pound and the Japanese.
Illustrate which of the following statements are examples of positive economic analysis. Which are examples of normative analysis.
Why does Vellus export through local distributors rather than set up its own sales force in country What are the risks associated with using local distributors? How can these risks be reduced 2. Vellus's original entry into exporting was both rea..
Suppose the following data about the demand for goods and services. All variables are in billions of dollars. Suppose that potential level of output is $12,000 billion. Use the above data to calculate the size of the output gap?
Show the PBC balance sheet. What is PBC's target reserve ratio and how much "bank capital" does PBC currently have? Explain.
Explain how many units of the variable innpout should be used to maximize profits. What are the maximum profits this firm can earn.
The demand and supply curves for gasoline (in billions per year) are given below. Using the equations, find the initial equilibrium price and the quantity in the market for gasoline.
What is the unemployment rate? What will the unemployment rate be if the unemployed increases to 7 million and 3 million individuals become discouraged workers?
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