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Given the following info, indicate whether you would expect the demand for labor in the markets inelastic or elastic. Explain why.
1. Demand for beer is inelastic in the short run. Market: Beer plant workers in the short run.
2. Today many patients feel that nurse practitioners can easily substitute for medical doctors to provide routine health care. Market: Medical doctors for routine health care
3. Robots are easily substituted for manual labor. Market: manual labor
Suppose the Jamaica biscuit producing company, located in Kingston, has 100 ovens and the life of each oven is 5 years, and 20 ovens must be replaced each year. If demand for the biscuits is constant, how many ovens will be replaced each year?
Discuss market trends that General Motors organization/industry will face and address(discuss) how their prices and technology will change or will not change, and why.
An ongoing policy issue is the privatization of hydro in the province of Ontario . Discuss privatization in terms of the production, transmission and retailing sectors . Specifically which sectors should be deregulated and why?
Amazon's "autobot" recently recommended a book to one of us titled Quality Maintenance: Zero Defects through Equipment Management. The book's description is "Achieve zero-defect product quality by eliminating the root causes of your equipment defe..
A monopolist is in long-run equilibrium and earning economic profits equal $100 million. The government imposes a lump sum tax of $100 million on the monopolist.
Suppose two high tech companies, X and Y, are the only producers of a new product that is used my numerous computer manufacturers.
Characterize each of the following statements as true or false, and explain your answer.
germany consumers have 50 in income their gross domestice product. they spend 35 on consumer goods 25 on germany goods
What is national saving? What is private saving? How are these three variables related and what is Labor Force Participation rate? Calculate Labor Force Participation rate.
Dr. Cutthroat is a plastic surgeon specealizing in turning ugly, old people into young and beautiful/handsome creatures, for a fee, of course. He has just started a practice in an island far away from civilization, inhabited by ric h and ugly peop..
What would be the effects on employment and unemployment given the actions taken by the Fed.
Consider an industry with a small number of firms with market power. Suppose they sell identical products and have identical cost of production. If each firm posts a price without knowing the prices
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