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Demand and supply conditions in the perfect competitive market for unskilled labor are as follows;Qd = 120 - 20P (Demand)Qs = 10P (Supply)Where Q is millions of hours of unskilled labor, and P is the wage rate per hour.h. Graph the industry demand and supply curvesi. Determine the industry equilibrium price/output combination both graphically and algebraically.j. Calculate the level of excess supply (unemployment) if the minimum wage is set at $4.50 per hour.
What is the marginal propensity to consume. What is the slope of the consumption function (you should give a numerical answer, not a formula)?
Assuming that you get a summer intern job and a recession began while you are there. Write a memo to your boss, who is a member of Congress.
Sales for year just ended were $500, and fixed assets were used at 80% of capacity. Current assets and accounts payable vary directly with sales.
Illustrate hat are the positives and negatives of protectionist trade policies on the part of the federal government.
The US as well as Canada have intervened in the market and tried to internalize some of the costs of pollution by placing regulations on the amount of pollutants that industries can emit.
Select a U.S. multinational company. In terms of currency denomination, discuss how the firm prices its revenues and costs.
As a manager of chain of movie theatres which are monopolies in their respective markets-Devise a pricing strategy to maximize your firm's profits.
An University President wants to reduce expenditures on fringe benefits
Explain why does the magnitude of price elasticity differ in a and b above, although the same set of price-quantity combinations are used to compute the price elasticity of demand
Emily makes cartoons whioch she sells to her classmates. Her average product of labor is 5 cartoons every hour if she works for one hour, four per hour
Describe the provider's equilibrium salary and how many nursing units it will hire.
The ability to create new products and process and to organize production to make goods and sevices available.
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