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Sergei is a computer programmer with a utility function equal to U=Y+120L-L . He contracts with Uber that allows him to set his own work hours; they pay him $50/hour. He has allocated himself a work-hour time budget of a maximum of 250 hours per month, so he may work less than this, depending on how lucrative his work is. Draw and properly label Sergei’s labor supply curve for a wage increase from $50 to $100 per hour. Draw and properly label Sergei’s labor supply curve for a wage increase from $50 to $100 per hour. (A)Draw and properly label Sergei’s labor supply curve for a wage increase from $50 to $100 per hour.
Select an economic problem or theory and discuss how dummy variables could be applied. Determine the value that dummy variables would add to your analysis (think outside the box on this one – avoid obvious examples like gender, race, etc.).
You are an economic analyst and one of your clients is your Aunt Ginger. You have not met with her for a year, and she has just closed the books on her first year in business. Her accountant has informed her that she made a substantial profit, and sh..
Estimates for a proposed small public facility are as follows: Plan A has a first cost of $50,000, a life of 25 years, a $5,000 market value, and annual maintenance expenses of $1,200. Plan B has a first cost of $90,000, a life of 50 years, no market..
Imagine that you work for the maker of a leading brand of low calorie, frozen microwavable food that estimates the following demand equation for its product using date from 26 supermarkets around the country for the month of April.
Structuring problems of risk in mining and transporation
A tropical country can produce winter coats, but there is no domestic demand for these coats. Explain how this country can gain from free trade in winter coats.
Some economists prefer to use the term businessfluctuations rather than business cycles toSome economists prefer to use the term business fluctuations rather than business cycles to discuss the historical growth record in the united states because..
Find the property tax rate from the following information. Knoxville County needs $5,875,000 to balance the county budget. The total assessed value of all the property in the county is $60,000,000.
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input grows at two percent, there is a unique growth rate of capital that is sust..
Think of ways in which the Government is actively involved with the purpose of changing the economy with regard to unemployment or inflation (or deflation). Do you agree that the Government ought to be involved? Why or why not?
Illustrate what do the results tell you about the relative size of the income also substitution effects for leisure for Jake.
Discuss the role of advertising also the desired impact on the industry's demand curve. Contrast this to advertising at the industry level.
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