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a) The price of televisions has been declining in Japan for the past few years. Explain how it affects the value of marginal product of labour (VMPL), equilibrium wage and quantity of labour in television factories in Japan. Explain with a diagram.
b) A branch office of an international corporation in China employs a receptionist aged 24 instead of employing a prospective candidate aged 40. In what way is this a case of discrimination and in what way is it not?
If the price of cheese is marked down during a sale by 20% and in response the quantity demanded (sales) increase from 30 packages to 45 packages what is the price elasticity of demand? Is demand elastic or inelastic?
The Prestige Office Equipment Company produces and sells different types of office furniture. One of the important items it sells is a high quality desk. Assume the variable unit cost per desk in the coming year will remain the same. Evaluate the pro..
Toward the end of the recent recession, the economy was characterized by a ‘‘jobless recovery’’— output and hours worked were rising, but employment was not. Explain what may have been happening.
Illustrate what share of GDP is composed of consumption. Illustrate what share of GDP is composed of investment.
Suppose the Quick Towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1,420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax liability on the sale of the truck? What is the a..
q1. canadian gas companies shipped 21.4 billion cubic meters to the us last year up from 20.1 billion in 1983 according
The following equation represents the weekly demand that a local theater faces. Presently the theater advertises 125 times per week. Assuming this is the only theater in town, and its marginal cost, MC, is equal to zero, Determine the profit maximizi..
What is an innovation economy? How does it differ from a traditional manufacturing economy?
An industry consists of three firms with sales of $200,000, $500,000, and $400,000. Compute the Herfindahl-Hirschman index.
When the absolute value of the own price elasticity of demand is zero, demand is:
Crossroads Sign Case Assume you are the plant manager for Crossroads Sign Company, which produces road signs in a market that approximates perfect competition.
Study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visited Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both.
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