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Assume that Mexican migrants to the United States come to Amherst to work as dish washers in restaurants, while those born in the United States work either as dish washers or cooks and that while some prefer one occupation and others might prefer the other, they will go from one occupation to the other depending on the relative wage. Also assume that restaurants need both cooks and dish washers; and that the number of restaurants increases when restaurant labor (cooks and dish washers) is cheaper.
Use a standard labor supply and demand graph to show the effect on wages and employment for Mexican migrants and native-born workers of an increase in migration. Is immigration good or bad for native-born American workers? Is it good or bad for people looking to eat in restaurants?
In your paper also include the opposing position along with your rebuttal (of that opposing position). For instance, if you wrote a paper arguing that political parties are beneficial (and why), then your rebuttal would be that political parties are ..
According to The Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..
The Babylonians studied problems which lead to simultaneous linear equations and some of these are preserved in clay tablets which survive. For example a tablet dating from around 300 BC contains the following problem:
Let's use an oligopoly model to understand why it may be better for competing firms if one of them assumes the role of a price leader (ABI in this story), while others follow (MillerCoors'), relative to a situation where they choose price simultaneou..
If the company will sell the number of units obtained in part d and wants to maintain the same profit as last year, what will its new price have to be.
The gains from specialization and trade are based on comparative advantage, which reflects the relative opportunity cost. When countries specialize in producing goods and services for which they have comparative advantages, total production in the gl..
A facility engineer is looking at two proposed alternatives to install anti-pollution control equipment mandated by the State of California. Assume equal lives of 25 years, no salvage values, and interest at 25%. Make the comparison on the basis of p..
Calculate the new cost earned by sellers, the cost paid by clients, as well as the equilibrium quantity sold in the market.
Mary's indifference map and budget constraint for goods x and y are shown below. If Mary spends all her money on x and y which bundle will she choose to maximize her utility?
"Exotic" mortgages became popular in part because they allow someone of:
If the real exchange rate is appreciating, the nominal exchange rate can be depreciating as long as:
If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car dealers in your area?
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