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Consider an environment where an agent could be either employed E or unemployed U. Let’s normalize E + U = 1, so that E and U are interpreted as the fraction of people employed and unemployed at any given point in time, respectively. Conditional on being employed today, the probability of being fired is δ=.05; and conditional on being unemployed today, the probability of finding a job is ω=.5
a) What is the probability of staying employed? (b) What is the probability of not finding a job? (c) Suppose that we know that today (Monday) the fraction of people who are employed is 0.95, what is the fraction of people employed tomorrow (Tuesday)? (d) What is the steady state level of employment?
Suppose a uniform pricing monopolist's price equation is P(Q) = 120 - Q; the uniform pricing monopolist's marginal revenue is MR(Q) = 120 -2Q; the uniform pricing monopolist's total cost is C(Q) = Q^2 + 40Q + 150; and the uniform pricing monopolist's..
An investment currently costs $30,000 if the current inflation rate is 3% and the effective annual return on investment is 8%. Approximately how long will it take the future value to reach $45,000?
Utilizing the midpoint formula, what is the price elasticity of demand for Coke at these prices. Assume the demand for Coke is a linear line. Would the elasticity of demand be elastic or inelastic at 75 cents a can.
explain how and why a monopolist would try to price-discriminate: Providing air travel for business people and tourists; A fast-food restaurant that serves business people and retired people
Pick a firm in the fashion/retail industry. In your opinion, how does the firm you selected acquire market power? What impact do barriers to entry have on the firm's market power?
q1. estimate the malthusian population momentum treatise to the current 3rd world population growth crisisq2. home is a
Why people at buffet s put more on their plates and eat more the greater the variety of items they have to select from.
Start by drawing the Short-Run Aggregate Supply and Aggregate Demand diagram with short-run equilibrium at Price Level = 165 and real GDP = 2750. Next, the following shock hits the economy: Concerned about an economic slowdown possibly turning into a..
Operations manager estimates assembly time required for first two units to be 10.4 hours and 8.3 hours, respectively. What is appropriate learning curve.
Illustrate what is the book value at the end of the third year.
Given that attendance at minor league baseball games are substitutes for attendance at MLB games. Explain why a fall in minor league ticket prices may adversely affect MLB game attendance.
q.1. real wages and productivity-are workers paychecks keeping up? over the long run traditionally real wages grow at
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