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(a) Evidence of sex discrimination lies in the fact that the median annual earnings of women are only 59 percent of male earnings.
(b) Professor of Economics, Betty J. Watson, of the College of Notre Dame in Baltimore said, in reference to the minimum wage, "It's more important to focus on creating jobs. Black youth have to deal with racism, and lowering the wage isn't going to help them find jobs." ( The Cincinnati Enquirer, November 23, 1986).
(c) Evaluate: A jet plane can fly from New York to Los Angeles three hours faster than a propeller driven plane. Which is the more efficient? Why?
3 Evaluate the following: The laws of supply and demand cannot apply to the labor market because labor is not a commodity to be bought and sold like machines.
True/False: For each of the following concepts, decide whether it's true or false, and briefly explain why (2-3 sentences). You can also use diagrams if they are helpful. Each correct answer is worth.
What is Bill's opportunity cost of producing one hat, In which of the two activities does Mary have a comparative advantage.
Evaluate the range of marginal revenues
Describe the law of diminishing returns. Then discuss why you agree or disagree with following statements.
Question based on Derive and compare demand curve, Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
What is opportunity cost? Explain with the help of an example, why assumption of constant opportunity cost is very unrealistic? Explain law of demand with the help of a demand schedule and demand curve.
Overview of the project's objectives and scope
Compute the expected value (revenue) from each project. Compute the coefficient of variation of each project, and find out which project should the company choose. Compute the variance and standard deviation of expected value from each project.
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
In a perfect capital market, advices for a corporate financial manager on making capital structure decisions.
Explain International Monetary System
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