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When the wage rate is $25 dollars per hour, union A's quantity of labor demanded is 4,000, Union B's is 5,000, and Union C's is 7,000. When the wage rate increases to $30 per hour, union A's quantity of labor demanded is 3,000, Union B's is 3,000, and Union C's is 3,000. Which union is most likely to push for a wage raise from $25 per hour to $30 per hour, Ceteris Paribus?
The idea that a person wants to have a bigger house in order to outdo his or her neighbors is referred to as:
Last year Hamdi Corp. had sales of $500,000, operating costs of $450,000, and year-end assets of $420,000. The debt-to-total-assets ratio was 17%, the interest rate on the debt was 7.5%, and the firm's tax rate was 35%. Assume that sales, operating c..
You are hired as a consultant by FarAwayDrive, the only golf balls producer in Japan. Assume the demand curve for golf balls in Japan is Q = 180 - 30P. What price will you recommend if FarAwayDrive wants to maximize its total revenues?
A public water utility is comparing two separate pricing schemes: (i) a two-tiered pricing scheme where the first 5,000 gallons cost $20 and all subsequent gallons cost $10 or (ii) a single price of $15 per gallon.
Whether businesses should be allowed to be involved in the politics and government issues? Do the businesses have the right to be involved or is it unfair for businesses to be involved given their potential economic power which create imbalances in t..
Why do we say there is no unemployment in our standard frictionless model? And why do we HAVE unemployment in a labor market with frictions?
The Port Authorities of New York and New Jersey estimate that the annual net revenues for the George Washington Bridge (GWB) will total $13M by the end of this year (t=1). What is the annual amount the Port Authorities should expect to spend for a fi..
Define the key aspects of “Western Civilization” and discuss the different ways historians might understand the term. How “west” is the West, for example? What are the most important changes, in your opinion, that Western Civilization brought to huma..
What is the “ethic of giftedness”? What values does Sandel argue are realized in embracing this ethic? How would Sandel view uses of technological enhancement that are generally accepted (prosthetics, eyeglasses, etc…)?
Jerry's demand curv for offic visits is Quantity = 30 - Price or Willingness to pay for the Nth visit=30-Nth Visit. Jerry has an insurance policy with a deductible of $100, a stop loss of $200, and a coinsurance rate of 50%. Suppose all doctors charg..
In the solow model we saw that countries that have higher population growth rates should have a lower steady state level of capital
There are only two consumers: Bill and Ted, and two goods: apples and bananas. Bill and Ted like apples and oranges. Bill is always willing to subsitute 1 apple for 3 bananas. Construct an appopriately sized Edgeworth box for them. Find the constrain..
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