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Wage Differentials
Explain in 4-5 sentences how the "winner's curse" applies to compensating wage differentials.
Hint: Winner's curse happens to people who place the highest bid in an auction, and only then realize that other people valued the item less than they did. They might regret that they won the auction at such a high price.
Explain price elasticity, income elasticity and cross elasticity of demand. Assess relevance of price elasticity of demand, income elasticity of demand and cross elasticity of demand to a magazine publisher.
Determine what you would have to do to get your business into a state that would make it funding worthy and explain why.
Situation analysis of Nigeria before and after colonialism. Factors to be taken into consideration would be geographical, economical, HDI, GDP, GNI, Education level, Growth and National assets.
Providing a subsidy to correct for an overallocation of resources Providing a subsidy to correct for an underallocation of resources.
Suppose c = wL + rK and q = L 1/3K 1/4 and perfect competition in all markets. Find the demand for labor and capital and the supply of q. If p = 8, w = 1 and r = 2, find the quantity supplied and the profits.
Consider a relatively small, tropical island nation (using the customary standard for size comparison, this nation is roughly 35 Rhode Islands). It has a healthy, well-educated population and the population growth is stable. Outline an economic growt..
Describe competency models, case-based decision making, and systems thinking.
The domestic price of one bottle of rum in Trinidad is 15 Trinidadian dollars. According to PPP, what will the exchange rate between the two countries be?
Strakers Industries estimated its short run costs using a u-shaped average variable cost function of the form AVC=a+bQ+cQ^2 and obtained
A consumer has a utility function, donuts (A) and peaches (B) given by u(A,B) = squareroot AB suppose donuts and peaches are priced .25 cents a unit, consumer income I is the unknown. Can you say anything about demand for donuts and peaches?
Suppose the CEO comes up to us one day. (He's friendly enough, but given some of his ideas, you're starting to dread these conversations.)
Assume that the industry is monopolized by only one company. Write the equation of the TR curve and then plot the TR curve(with Q along the horizontal axis and TR along the vertical axis) for this company. Comment on the shape of the TR curve.
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