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a. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the response in the monopsonistic market to the response that would have been observed in a competitive labor market.
b. Suppose a firm is a perfectly discriminating monopsonist. The government imposes a minimum wage on this market. What happens to wages and employment?
A rental car company has an imbalance of cars at seven of its locations. The following network shows the locations of concern (the nodes) and the cost to move a car between locations. A positive number by a node indicAtes an excess supply at the n..
A government employer can demand urine samples from its employees, for testing purposes a. unless the demands are calculated to allow a determination of job fitness. b. only pursuant to a validly issued search warrant. c. at any time, for any r..
Firms like Papa John's, Domino's, and Pizza Hut sell pizza and other products which are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of such firms products permits them to charge prices a..
In order to expel a foreign diplomat, that individual must be declared____.Internationally, what is the name of the commercial code that governs many international commercial transactions concerning the purchase or sale of goods?
John Maynard Keynes believed that wages may be inflexible in the downward direction. Consequently, an economyA) could get stuck in long-run equilibrium. B) could get stuck in a recessionary gap. C) could get stuck in an inflationary gap. D) would alw..
The price of MP4 players has been going down in the past decade. Give an explanation for this consistent drop in the price of MP4 players. Use the model for long run competitive firm to illustrate your answer. Draw two graphs. One is to show the ..
How do the concepts of accounting profit and economic profit differ? Why is economic profit smaller than accounting profit? What are the three basic sources of the economic profit? Classify each of following according to those sources:
Levi Strauss successfully markets Levi jeans on the History channel as a way for older men to stay young forever. What will happen in the jeans market ceteris paribus?
Discuss the function performed by a financial intermediary in linking surplus and deficit units in the financial market. What will happen in the financial market if the financial intermediary does not exist
If you had a business exporting goods to Britain, and U.S. inflation fell as discussed above in this example, would you plan to expand production or cut back? Why?
What was Morita drawing and what did he know about costing that the chain store representative was overlooking? Be sure to describe or chart the shape of Morita's costing sketch in your answer.
Explain what type of wage rigidity is most likely to affect the unemployment rates of the following types of workers: a. workers with low marginal labour productivity; b. workers seeking jobs that are typically unionized
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