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Assume that an employer believes that the “efficiency” (e) it can get from a particular worker, as a function of the hourly wage (w), is given by function e = –0.125w + 0.15w2 – 0.005w3, at least up to a wage of 30.
1. Create a table of w, e, e/w, and w/e for wages equal to 5, 10, 14, 15, 16, 20, and 25.
2. Which wage gives the highest ratio of efficiency per unit of labor cost?
3. Once the firm has hit on an optimal w, whatever it is, would cutting wages whenever demand falls off increase or decrease wages per unit of efficiency?
Suddenly, 20,000 people immigrate from abroad and initially settle in the West. Elucidate why they possess the same skills as the native residents and also supply their labor inelastically.
The people of Aquilonia deposited half of their currency into the banking system. If banks do not hold excess reserves
Utilize the sticky-income theory of cumulative provide to explain illustrate what will take place to o/p also the price level play in this adjustment
Assume the inflation rate is constant. Write down this number on a piece of paper because you will need the information for a subsequent question.
Your client is about to establish his own business and hire at least 10 employees. They ask you for advice concerning establishing a qualified vs. a non-qualified retirement plan. What do you advise your client?
Suppose that there are two products: soda along with clothing. Both Brazil and the United States produce each product.
If a 20% decrease in th price of long distancephone calls leads to a 35% rise in the quantity of calls demanded, you may conclude that the demand for phone calls is.
A vendor is offering an extended repair contract on a machine. The firm's experience is that this will cover repair costs over the next four years of $200, $200, $400 and $500. At 6%, what is the extended repair contract worth now?
If ABC adds an assembly line for the product and XYZ does not follow with a competitive product.
explain why a $100 billion increase in govermant purchases of goods and services will lead to a large increase in aggregate deamnd than a $100 billion decrease in taxes?
Explain how does imposing rent controls affect the number of housing units available to low-income families
Compare the magnitude of the percentage in the rental on capital with percentage change in wage in part 1. Use notation format.
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