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2. Consider Tom's labor supply decision. Tom can earn $15 per hour, but he faces a 20% tax rate and pays $4 per hour in child care expenses for each hour he works.a. What is Tom's 'real' hourly wage rate?b. How much will it be if he had 128 hours of leisure (= worked 40 hours)d. Tom chooses to work 40 hours a week. On the above graph, draw Tom's indifference curves between leisure and money so that this is his optimal labor supply choice.3. Brad and Angelina are married with kids. Suppose Brad's at-home productivity as a parent is $25 and Angelina's is $40.a. Who has an absolute advantage in the home? How do you know?b. If Brad works in the labor market, he can earn a wage of $500 per hour, while Angelina can earn $600 per hour. Considering comparative advantage, which of the two should specialize in the labor market? Explain.
A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $60,000. The entry to record this exchange is ??
You start with a population of cattle in which the heritability of body weight is 0.7. You begin a program of artificial directional selection to increase body weight. You continue this generation after generation.
Calculate the wavelength of light that would be required to excite an electron from the HOMO to the LUMO. Hint: Recall that (triangle)E=hv=hc/lambda, and that 1 eV=1.602 x 10^-19 Joules.
It will take 30 minutes regardless of the traffic conditions. Lynn's utility for travel time is: U(15 minutes) = 0.9, U(30 minutes) = 0.7, and U(40 minutes) = 0.2. Which route will minimize Lynn's expected travel time?
Does a tug of war between AVC and AFC eventually take place?
If you counted 20 colonies from a 0.01-ml inoculum of a 1:10 dilution of urine, how many organisms per milliliter of specimen would you report?
You are to prepare the comments as requested, giving the implications and the limitations of each item separately. Then prepare a collective inference that may be drawn from the individual items about Carismo's solvency and going-concern potential..
If the income tax rate is 30% and the amount of income taxes paid would be $300 greater if the LIFO assumption were used, what would be the amount of income before taxes under the LIFO assumption?
Assume the results of different games played in the series are independent of each other. Find the p.m.f. of the distribution of N := duration" of the baseball series.
What is emissions testing in cars? Does emissions testing on cars actually improve air quality all over the world? These questions are something that should be considered before society decides to do emissions testing in cars.
Illustrate what does a contraction Gap imply about the actual rate of unemployment relative to the natural rate
Explain why is the supply of physicians a major cause of concern. What is the quintity of aprtments demaneded, and what is the quanitity of apartments supplied.
Evaluate change in costs over period in real terms, first in 2004 dollars and m in 2005 dollars. Are your answers same. Explain why or why not.
Under very high rates of inflation, why would people prefer to use a barter system to buy goods, rather than use paper money.
elucidate what economic factors may influence such behavior
Using appropriate diagrams and notations, carefully explain the relationship between elasticity, total revenue and marginal revenue. Describe the uses of elasticity of demand.
it can sell its output for $25 each. Illustrate what is break-Explain how your work both graphically and algebraically.
Explain how will the bank respond to the withdrawal. Suppose that the bank responds to insufficient reserves by reducing the amount of deposits it holds until its level of reserves satisfies its required reserve ratio.
Assume to there are two segments to the market for rental cars. The Demand for rental cars by trade travelers
If David's only illness this year results in an appendectomy, explain how many days will he choose to stay in the hospital
Elucidate how many of the variable input should the firm utilize to maximize profits? Please verify. Note which in order to do this you want to utilize costs.
Illustrate what total amount of output will firm A produce in a competitive market. Which output level would be efficient.
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