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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.
Explain why might the unemployment rate tend to actually underestimate the unemployment problem, especially during a recession.
Illustrtae which single type of product has the greatest impact on your employer
In late June the Fed lowered its federal funds rate target from 1.25 percent to 1 percent. However between mid June and early August the yield on longer term 10 year Treasury notes rose from 3.1% to over 4.3%.
Asume you are analyzing the market for minivans. What will be the impact on the equilibrium price and equilibrium quantity of each of the following events on the minivan market. Justify your answer using the supply and demand model.
Assume first that Apple were to sell only 4GB iPods after all,they cost the same and some consumers prefer more than less. What is the optimal price for a 4GB iPod.
You are trying to decide whether to buy some laptop computers for your business in either Canada or in United States. Looking at identical machines on the Dell Canada and the Dell US web sites, you find that they sell for US $2000 (US dollars) in ..
Illustrate what are the comparative advantage that would exist when the selected country has a margin of superiority.
Compute the total fixed costs, total variable costs, average fixed costs.
Illustrate what are the pros and cons of a company that competes in a global environment. How do you think this has affected the U. S. economy and the global economy.
Assume the utility function is not the square root of income but instead, utility is linear in income.
Assume a merger of company would simultaneously lessen competition and reduce unit costs through economies of scale.
Price Discrimination: Assume that United Airlines knows that it faces the following demand equations and corresponding marginal revenue equations for its (one-way) SFO to Las Vegas route
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