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Pham can work as many or as few hours as she wants at the college bookstore for $11 per hour. But due to her hectic schedule, she has just 19 hours per week that she can spend working at either the bookstore or at other potential jobs. One potential job, at a café, will pay her $12 per hour for up to 7 hours per week. She has another job offer at a garage that will pay her $10 an hour for up to 5 hours per week. And she has a potential job at a daycare center that will pay her $8.50 per hour for as many hours as she can work. If her goal is to maximize the amount of money she can make each week, how many hours will she work at the bookstore?
the display creates negative externalities. government should tax the producers of holiday lighting. resources are currently overallocated to the provision of holiday lighting in Anytown. resources are currently underallocated to the provision.
What is the tax incidence of an excise tax when demand is highly inelastic Highly elastic What effect does the elasticity of supply have on the incidence of an excise tax What is the efficiency loss of a tax
Walmart is vilified by many people as being evil, destroying jobs and cities. Others note that it has the lowest prices and is the largest employer in the country. What is the difference? Is Walmart a monopsonist? Demonstrate how a minimum wag..
Compute total revenues, total expenses, and profits both before and during the strike and Who was better positioned to endure the strike?
If the firm wants to produce one unit of output at minimum cost, how much should it produce in each plant? If it wants to produce two units of output?
Today, the Federal Reserve announced that it is reducing the discount rate by 0.5%. How would you expect this announcement to affect the value of your bond?
There are two goods in the economy, anchovies (a fish) and bananas ( FARM product). Draw the economy's production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
The local government of a city is concerned about increasing rental costs for residents, and decides to impose a ceiling price on the maximum rents that can be charged by landlords on apartments and houses.
When you are given the units of resource, total product, and marginal product. what do you need to find to determine how many resources the firm will employ.
Office building maintenance plans call for stripping, waxing, and buffing of ceramic floor tiles. This work is often contracted out to office maintenance firms, and both technology and labor requirements are very basic.
Suppose that a natural monopolist was required by law to charge average total cost. On a diagram, label the price charged and the deadweight loss to society relative to marginal cost pricing. Briefly explain your diagram and comment on the results..
Suppose you heard the following: "The gap between actual output and potential output for this year is estimated to be 6 percent to 7 percent of potential output. Wholesale prices are virtually unchanged from one yea..
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