Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
An economy has the following cobb-douglas production function: Y=K1/3L2/3. The economy has 1000 units of capital and a laor force of 1000 workers.
a). Derive the equation describing labor demand in this economy as a function of the real wage and capital stock.
b) If the real wage can adjust to equilibrate labor supply and labor demand, what's the real wage. At this equilibrium what are output,employment, and the total wage of workers??
c) If congress passes a law requiring firms to pay workers a real wage of 1 unit of output. How does this wage compare to equilibrium wage?
d)congress cannot dictate ow many workers firms hire at the mandated wage.given this fact, what are the effects of this law? What happens to employment, output, and total income of workers?
e)will congress succeed in its goal of helping the working class?explain.
An increase in the dollar price of yen necessarily means a fall in yen value of dollars. Do you agree? Discuss and explain; The critical thing about exchange rates is that they provide a direct link.
Elucidate the difference among a monopoly and an oligopoly, the welfare effects of monopoly.
The principle upon which Adam Smith first claimed that free trade benefits all countries. It holds that a country benefits from trade when it produces a particular good at a lower cost (in terms of labor input) than it costs to produce the good in..
Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook. Demand and supply conditions in the perfectly competitive domestic for lawn mowing services are:
GDP is the total value of all final goods and services produced in within a country in a given year. Do you think the GDP is a good indicator of economic well-being. Illustrate what other factors do you think contribute to a good standard of living.
Briefly outline the current state of U.S. policy toward sugar imports and perform an economic cost benefit analysis to evaluate the welfare effects of eliminating import quotas and tariffs.
Elucidate the price elasticity of supply for your chosen industry.
As a government needs to increase tax income, it will often increase the sales tax on gasoline.
Who has the responsibility to decrease or eliminate unemployment. What is the role of business
Suppose you introduced a new consumer food product and invested heavily in (1) national advertising (pull strategy) and (2) motivating your field sales force to sell the product to food stores (push strategy). What kinds of feedback would you rec..
Explain the purpose of rent control and the intended effect on consumers and suppliers of rental property. Does rent control achieve its purpose Using the Internet or the Virtual Library, give some detail regarding real-world experiments in rent cont..
Consider the market for electricity. Suppose demand (in megawatt hours) is given by Q=50-p and that the marginal private cost of generating electricity is $10 per megawatt hour (p is the same units). Suppose further that smoke is generated in the ..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd