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a) Why are coal miners in China paid higher than factory workers even though they have received more or less the same level of education and training?
b) Why are workers with good looks paid higher in some jobs, but not in others?
c) A recent report released by the Census and Statistics Department indicates that male workers in USA, on average, earn more than female workers and the gap of wage differential is widening. Is this evidence of sex discrimination? Justify your answer.
d) There are, on average, 150 new migrants enter USA from the mainland every day. Use a diagram to explain how this affects the equilibrium wage and quantity of labour in USA.
e) Substantial foreign capital has been flowing into mainland China since the early 1980s. How has this affected the wages and workers employed in China? Explain with a diagram.
Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from both chapters seen this unit such as government intervention, inefficiencies, price elasticity, etc. in your answer.
The bureaucratic form of government is so prevalent in public agencies and tends to result in a slower paced, less consumer oriented management
q.your oil company must decide whether to drill a well at a cost of 500000 on a piece of leased property or to sell the
Explain how many tons of coffee does the United States import. If the world price of a computer is $500, what is the world price of a ton of coffee.
The annual maintenance cost is estimated to be $100K. A major renovation at a cost of $50M is required every 100 years. What is the capitalized cost of the bridge at an interest rate of 5%?
In a market where government has set the maximum price below the equilibrium price, one might expect:
q.rafidah was earning 100000 a year working as a scientist for a drug company. she decided to start her own business
Draw the isocost line corresponding to a total cost of $10,000 is: 50 L + 100 K. TC = w L + r K, where L is the quantity of labour, K is the quantity of capital, w is the price of labour, and r is the price of capital. And draw the isoquant curve on ..
Kalamazoo Competition-Free Concrete (KCC) is a local monopolist of ready-mix concrete. what is its profit-maximizing sales quantity and price? what is the value of MC at profit maximizing sales quantity
When the minimum wage is set above the equilibrium market wage,
Winston Churchill once thought that democracy is the nastiest form of government except for all others.
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantage were used in your simulation.
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