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Research in developing countries indicate that the incidence of child labor actually rose in some countries as incomes (and wages) of poor families increased. This is difficult to understand since many people assume that as incomes rose, the incidence of child labor should fall since as families become wealthier, school enrollment among children should rise.
Assuming that the alternative to working, children would attend school, carefully explain the paragraph above with the help of a graph using indifference curves, budget lines and the concepts of income and substitution effects. Be clear in your answer about the assumption (or assumptions) that are needed to arrive at the conclusion.
a.) Illustrate using a fully labeled supply and demand graph (label all the axes and any lines you put in your graph) what such an artificial price looks like. b.) Explain what the results of such a move are for the graham cracker market. ..
The cost for loss of heat from the pipe per meter is $4.8/X1/2 per year. Here, X represents the thickness of insulation in meters, and X is a continuous design variable.
The scientific method is more difficult for economists than, say, chemists, because: a-controlled laboratory conditions are more problematic in economics. b-it is difficult to hold other factors that may affect the variables being studied constant in..
ach sales manager then decides how to divide the cars among the independently owned dealerships in the region. Because of high demand for these cars, dealerships all want to receive as many cars as they can from the regional manager.
Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.
The price of Burger King's Whopper hamburger declines and mcDonald's distributes coupons for $1.00 off the purchase of a Big Mac.
Make a short treatment on the examine governments take to promote exports and restrict imports. Describe who profits and who loses from protectionist rules as they relate to net outcome for society.
A television station is planning the sale of promotional DVDs. It can have DVDs manufactured by one of two suppliers. Supplier A will charge the station a set-up fees of $1,200 plus $2 for each DVD.
Discuss the Henry George idea for a single tax on real estate and why did the California State Lottery extend the payoff period from 20 years to 26 years?
Using the following equations Qs = 13,000P and Qd = 48,000-6,000P. Plot supply and demand curves (require a graph). Determine the equilibrium price?
Find out the equilibrium price and quantity and illustrate with a graph. The government imposes a tax of $5.00. Find the new equilibrium price and quantity. Determine the total tax revenue earned by the government
on what does the domestic currency price of a nation's imports depend? what would happen to the domestic-currency price of a nation's imports increases and the nation's currency depreciates?
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