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Describe wage determination in a labor market in which workers are unorganized and many firms actively compete for the services of labor. Show this situation graphically, using W1 to indicate the equilibrium wage rate and Q1 to show the number of workers hired by the firms as a group. Show the labor supply curve of the individual firm, and compare it with that of the total market. Why the differences? In the diagram representing the firm, identify total revenue, total wage cost, and revenue available for the payment of non-labor resources.
In your diagram, show that a family that considers food a necessity, given $M/3 in cash would spend less than $M/3 on food. What is the optimal bundle of this type of family if instead of receiving cash it received the SNAP card? g) At bundle H, i..
Provide one example of a good the US would be considered to have a comparative advantage in producing. Why do you think the U.S. has this comparative advantage.
state history of the airline industry, plus an industry overview, and a SWOTT analysis of the airline industry. Please include references.
Suppose if there were no tax profits and behavior is governed through rational self interest, would people give to charitable institutions? use economic principles to describe.
America's young people are heavy Internet users; 87% of Americans ages 12 to 17 are Internet users (The Cincinnati Enquirer, February 7, 2006). MySpace was voted the most popular Web site by 9% in a sample survey of Internet users in this age grou..
A company in the US develops and patents a technique to produce low cost computer chips: Which account is impacted by this.
What fiscal policy would you implement and why? Graph and explain the whole situation from start to finish, make up your own numbers. Make up your own MPC from that you will be able to derive the multiplier.
Assume the United States government is planning changes in economic and social policy to decrease wage inequality.
Explain how much more money has the Fed printed and where is it now. What affect will an increased M1 money supply have in the long-run.
For ever of the situations, decide whether Al has increasing, constant, or diminishing marginal utility.
Determine some of the models that predict the EFFECT that decreasing protection of imports will have on FACTOR PRICES? Briefly describe the effects shown by these models.
Assume you are a business person with an opportunity to make more money by meeting with competitors and fixing prices, conduct which is illegal. The authorities will not discover that the prices have been fixed. In fact, the price rise could be sm..
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