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Suppose the supply of labor is given by LS = 10w , where LS is the quantity of in millions of persons employed each year, and w is the wage rate in dollars per hour. The demand for labor is given by LD = 80 - 10w .
(a) What will be the free-market wage rate and employment level? Suppose the government sets a minimum wage of $5 per hour. How many people would then be employed?
(b) Suppose that instead of a minimum wage, the government pays a subsidy of $1 per hour for each employee. What will the total level of employment be now? What will the equilibrium wage rate be?
If she would like for the annual withdrawal to increase by 4% each year over the first 20 years of her retirement, what is the amount of the first year withdrawal?
Your coworkers are upset that the current theme in the organization is cost containment and they see that money is being spent on remodeling the emergency department, which is unable to keep up with the demand due to inadequate space.
Select an industry with which you are familiar and determine which of the trade regulations impacts that organization the most. Support your response with specific examples.
The market demand for another product you are considering selling is Q(p) = 100 ? (1)p and as the 2. Only producer of this product your production costs would be C(Q) = 40Q. What is the actual Lerner Index?
monopoly and equilibriuma. helen gets smart and realizes that she is the only pie shop approximately. compute the
Find out the market equilibrium price and quantity. Compute the profit of a firm at the point of equilibrium. Is this longrun equilibrium.
It is assumed that quantity of item is intended of other items find out probability that first faulty item doesnot occur in the first six selected items.
If Rob and Nate are the only people who purchase discs, graph the aggregate demand for discs and write down the equation for this aggregate demand function.
Suppose that tax and aggregate expenditur income for an economy. Illustrate what is the change in taxes cause by an increase in government spending.
Draw the opportunity set of a consumer with an income of $1200 who faces prices of Px = 10 and Py = 5. What is the market rate of substitution between the two goods?
Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What can be said about deadweight loss in each case?
Why are vision and mission statements important to strategic development? How might leaders and managers view and use vision and mission statements differently?
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