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Courts in Japan have recently begun to make awards to the families of workers who have been judged to have been "worked to death." That is, employers have been increasingly required by courts to make large financial payments to the heirs of workers whose hours of work have been so long that they are judged to have played a role in causing their death. Use economic theory to analyze the likely labor-market effects of the growth in these awards, assuming that the wages in these jobs stay constant.
Crew Brew produces a popular brand of beer in its mini-brewery located on a small river in Kentucky. Assume that capital can be purchased for $8 per unit, and labor costs $6 per unit. What is the optimal combination of inputs for the firm to employ..
what is the elasticity of substitution? if the production is Q= L ^1/2 K ^1/2. What is the total cost function ? What is marginal cost? What is average cost?
which will cause a larger short run increase in prices; an anticipated or unanticipated increase in aggregate demand? will they cause the same increase in prices in the long run?
The response conforms to appropriate requirements of the specific format,cover page included, with student name, student number, and tutorial time/room number clearly stated.
The law of demand says that the price and quantity demanded are inversely related. Thus, is demand curve positively or negative sloped?
The Law of Large Numbers explains why it is unlikely that the actuarially fair premium for an insurance policy will be the same for a small start-up firm
What level of output should this firm produce in order to maximize profit or minimize losses - and how many firms in total will there be in this market?
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
cost function for clinic visits in a small inner city clinic Quantity of Visits Total Cost per Week If the price per visit is given to be $25, at what level of visits will the maximum profit position be.
When a firm engages in cost-plus pricing and marginal cost equals industry price, revenue maximization occurs when a firm sells at a price
Employ the following information on hypothetical short-run production function to answer questions a-d. Compute the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically.
If the two are generally not competing on price, are there any forms of non-price competition that might emerge? If so, describe them. Or would such other forms of competition also exhibit "kinked type behavior"?
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