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Several believe that wage inequality in the United States will generate shifts in labor markets such that gap between most highly skilled in the population and least skilled will start to fall in the near future. Describe the theoretical reasons for claim.
Explain how is the aggregate supply curve different from the supply curve for a single good like pizza.
According to the table above, if the wage rate is $500 and the price of output is $5, how many workers should the company hire?
For every following events, consider how you might react. What things might you consume more or less of would you work more or less.
Explain why both marginal and average costs are believed to eventually increase in the short run.
Illustrate what does the law of increasing opportunity price say and what is its implications regarding steel and textile manufacturing.
Find out more about the airline industry. What is the price elasticity of supply for the airline industry.
Assume the price of the futures contract changes as shown in the following table. Enter the relevant information into the table. Show your calculations.
True/False: For each of the following concepts, decide whether it's true or false, and briefly explain why (2-3 sentences). You can also use diagrams if they are helpful. Each correct answer is worth.
A major cereal manufacturer decides to lower prices from $3.60 to $3.00 per 15-ounce box. If quantity demanded increases by 18 percent, determine the price elasticity of demand?
The marketplace is saturated with modems, and your sales department has been able to identify only one potential buyer of your modems.
Provide the demand curve in part a, what is the equilibrium price and quantity. If consumer income increases to 30,000 what will be the impact on equilibrium price and quantity.
The Big Black Bird Company (BBBC) has a great order for special plastic lined military uniforms to be used in an urgent military operation.
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