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Problem
Again, consider a similar problem to the one spelled out in but in this case the agent's effort in each period is observable. His ability remains unknown, however, for both the market and the agent. Compute the explicit incentive constraint that needs to be satisfied in order for the agent to put forth an adequate effort level. Show that implicit incentives can only be imperfect substitutes to the explicit monetary incentives obtained via a wage that is linked to performance.
A certain machine will have a cost of $25,000 (then $) six years from now. Find the PW of the machine if the real interest rate is 10% per year and the inflation rate is 5% per year using (a) constant-value dollars, and (b) then-current dollars.
How would you characterize your demand for health insurance -- elastic or inelastic? Does the price elasticity of health insurance vary with age, ethnicity, gender, etc.? Does it vary depending on the type of medical procedure needed? If a doctor fac..
To what extent have advanced and accessible digital technologies, such as websites, digital photography, and YouTube, changed the relationship between art and technology? Are these technologies reshaping our attitudes toward artists?
How important was your income as a factor? How important was the price of other goods as a factor?
Show in a graph how a subsidy paid to soybean farmers affects the consumer surplus and the producer surplus from soybeans. Does the subsidy make the soybean.
the bank issues a letter of credit to one of its corporate clients. what is the immediate impact on the equity ratio?
The U.S. Department of Education reported the following number of bachelor's degrees awarded now what is the annual arithmetic mean number of degrees awarded?
Discuss ways firms establish barriers to entry and explain how they benefit firms but not consumers. Give an example of a law or regulation that limits the ability of firms to establish barriers to entry and an example of a law or regulation that ..
Changes took place during the Industrial Revolution that made sustained economic growth possible?
explain the different incentives americans have for joining interest groups. what are the types of interest groups
Now assume both Mary and Lucy are producing on their PPFs. What is the opportunity cost of serving one more table for Mary? What is the opportunity cost of cleaning one more window for Lucy
Forty years ago, the price of a new Volkswagen was $5,000. (Actual price adjusted to simplify the calculation). The price of a new Volkswagen is $25,000 today. Basing your answer solely on the aforementioned prices, by what percent have prices increa..
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