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1.Most people are consumers, making demand decisions in product markets, and also workers, making supply decisions in resource markets. How do workers choose how much of their labor service they are willing to sell? Is the quantity supplied likely to rise or fall when the wage rate is higher?2. what are some techniques employers can use to improve workers productivity? Consider both carrots and sticks
HIRING MANAGER
1.Workers make the supply decisions in labor markets, but firms (represented by hiring managers) make the demand decisions. Will firms want to hire more workers or fewer workers when the wage rate rises? Explain your answer.
2. discuss some events that would be expected to increase job creation. how can govenrment policy be used to stimulate job creation?
Suppose that the probability that a used bike is a lemon (low quality) is 'p' and the probability that a used bike is a plum (high quality) is '1-p'. If a buyer is willing to pay $H for a plum used bike and $L for a lemon used bike,
We make selections as customers every day. Opportunity cost is defined as a person's next best alternative or cost of what you give up when you make a choice.
Draw en Edgeworth box and illustrate. Initial endowement allocation, an indifferens curve for each consumer and the contract curve.
Monetary Contraction Suppose the central bank wants to decrease the price level, but the economy is already at the natural rate of output.
Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.
According to the National Bureau of Economic Research, a poor family is the one whose income falls below one-half of the median family income. Using this definition of poverty, answer the following questions. a) How, if at all, would the proportio..
A major breakthrough that allows for on-site generation of electricity for an investment in the generating capacity but after that essentially a zero variable cost of electricity.
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone free milk and at the same time south african consumers chose to be more healthy?
Sixteen states sue the major tobacco companies for billions of dollars because of tobacco-related costs in their Medicaid programs. Medical evidence that more than two cups of coffee a day (Considered by many to be a substitute for smoking) greatl..
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $49 and the price at point e is $24 per bag. The price at point f is $48 and the price at point g is $13 per bag.
What is the own price elasticity of demand when Px = $240? Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price above $240?
1 good reason why quantity demanded increases when its price falls is that the: a. lower price shifts the supply curve to the left b. lower price shifts the demand curve to the left c. lower price shifts the demand curve to the right d. lower price e..
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