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If you could choose to work as many hours during the week as you wanted at a given per hour wage rate, to what level would the per hour wage rate have to be before you would begin to choose fewer hours to work? does the supply of labor curve (wages on the vertical axis and hours worked on the horizontal axis) always slope upwards to the right?
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
Now assume that an unusual shift of the Gulf Stream leads to an unseasonably cold summer in Europe, destroying much of the grape harvest there.
Suppose a profit maximizing firm's short-run cost is TC = 700 + 60Q. If its demand curve is P = 300 - 15Q, calculate the short run?
Determine what would happen to GDP if a significant number of house spouses who were previously stay home to care for their children began taking jobs and placing their children in day care?
Assume that the required reserve ratio is 10%. If the Federal Reserve buys a $10,000 government bond from an individual in the economy, what is the initial effect on the money supply. What is the ultimate effect on the money supply
Describe their organizational structure and what market entry strategies each of these companies are currently using.
Suppose the federal government needs to balance the budget, which means that when the government spending increases, taxes must increase equally. In this case, government spending multiplier is called the balanced-budget multiplier, defined as the..
Assume that the gold-mining industry is perfectly competitive. Using a graph of the Representative Firm and a corresponding graph of the Market, illustrate a representative gold mine earning normal economics profits and illustrate equilibrium in t..
a. If Mrs Siegal can only choose one alternative, and if she wants to maximize the most healthy days per dollar that she gets, which option will she choose? b. If the price of a pill ncreases to $3, which option will she choose?
Describe how the federal reserve kept the US from sliding into a deeper recession after.
b.) If the firm faces a horizontal supply curve of labor at W*, how would it determine E*, the equilibrium level of of employment c.) Since it is an upward sloping curve, it will not pick E*. How will it decide how much labor to employ, and how wi..
Illustrate what would the total price be at 99,000 miles rounded to the nearest dollar amount.
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