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Draw simple labor supply and demand graphs for the occupations of school teachers and plumbers to show the labor market in each profession. Assume that some workers prefer to clean drains for a living, and some prefer to teach children, but that all will change occupations if the wages are high enough.
Now assume that men face discrimination that prevents them from becoming teachers; show and explain the effect of this discrimination on wages and labor supply in both occupations graphically and in your own words.
Show the reduction in output from discrimination. Show the economic gains from eliminating discrimination. With such gains, why has it been so difficult to enact and enforce anti-discrimination policies?
The size of the market will help determine which of the following factors:
Keeping with this discussion, an understanding of market power and its impact on price and quantity are important. Market power is important in determining when a firm has monopoly power and when to enforce anti-trust policies. Why would a firm in a ..
Suppose the demand for steel is P=720-8Qd and the supply of steel is P=360+8Qs. The home country is small in the world steel market and the world price of steel is $400. Find the free trade levels of steel production and consumption as well as steel ..
What did the Civil War change any opportunity costs in the South. Did the opportunity cost of everything rise? Or did items cost less.
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
Examine how the Federal Reserve controls the money supply. In a paper, formulate how the independence of the Federal Reserve should or should not be modified in any way.
Illustrate what is the total number of wells which maximizes the sum of the profits of both firms.
q1. explain why the following situations would occur in terms of the factors that affect elasticity.a demand for
Compute how this policy affects consumer surplus, and the cost of pollution. Would you recommend this policy.
Participate in a discussion with your classmates regarding how international trade affects our lives. You have a big stake in the politics of free trade versus international trade protections. As a buyer, your self-interest is hurt by tariffs and quo..
Sweden receives a great deal of attention from economists in part because
Until a few years ago, U.S. cars exported to Japan had the driver controls on the left side (as in the United States). The Japanese (like the British), however, drive on the left side of the road, so Japanese cars sold in Japan have the driver contro..
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