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suppose that the employer concession SCHEDULE IS W=1+0.02S and the union resistance curve is W=5+0.02s-0.01S2, where=percentge wage increase and S=expected strike length in days, Using Hick's simplest model, determine the length of the strike and percentage wage increse
Formulate the dynamic optimization problem of a representative household, and show that any interior solution to this problem violates the transversality condition. Interpret this result.
A sum of $25,000 is deposited into a savings account, which pays 8% interest compounded semiannually. Equal annual withdrawals are to be made from the account, beginning 1 year from now and continuing forever.
Various financial data for 2007 and 2008 follow. Calculate thetotal productivity measure and the partial measures for labor,capital, and raw materials for this company for both years. What do these measures tell you about this company
There are H consumers and n firms. The demand of each consumer is x(p) = 1 - p and the cost function of each firm is c(y) = (y)^2/2. Compute the competitive equilibrium price, quantity and the consumers' and producers' surplus as functions of H and n..
Show that any unfunded social security system increases the welfare of the current old generation and reduces the welfare of some future generation.
Explain first why the equilibrium levels of output and the interest rate are unaffected. Then show whether the current account improves or worsens as a result of the increased government purchases of goods and services.
Explain the concept of social deviance and provide examples of deviant behavior in social context
b.Determine the cross-price elasticity of demand between good X and good Y, and state whether these two goods are substitutes or complements. c.Determine the outcome elasticity of demand, and state whether good X is a normal or inferior good.
At the end of 5 years, the compactor will be replaced by another identical compactor (Cynthia hopes to be so lucky.) Assuming that the City will own and operate a landfill for perpetuity and that they will need a compactor
Fluff Rite, Inc., manufactures stove top popcorn poppers that it sells to distributors, who then customize and distribute the products to retailers as house-brand poppers. The yearly volume of output is 100,000 units.
The "graying of America" will substantially increase the fraction of the population that is retired in the decades to come. To illustrate the implications for U.S. living standards, suppose that over the 44 years following 2006 the share of the po..
Farma Inc. is working on the development of a new drug to combat Fingulesa. It has identified two strategies to pursue. Strategy one has a probability of success of 40% and strategy 2 has a probability of success of 60%.
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