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In the United States in 2002, 130,000 aircraft mechanics and service technicians earned an average of $20 an hour whereas 30,000 elevator installers and repairers earned an average of $25 an hour. The skill and training for these two jobs are very similar.
Draw the demand and supply curves for these two types of labor. What feature of your graph accounts for the differences in the two wage rates and what feature accounts for the differences in the quantities employed of these two types of labor?
Suppose your company is considering three health insurance policies. The first policy requires no tests and covers all preexisting illnesses. The second policy requires that all covered employees test negative for the HIV virus.
it has the same demand curve and there is only one firm there that also produces apples at the marginal cost of $4 per kilo. Also, each firm in every country has to pay a transportation cost of $1 per kilo to deliver its apples to the market abroa..
As head of the planning division of Eastern Motors, your job is to determine where to locate a new plant. The only inputs used in your cars are steel and labor and the production function is Cobb{Douglas where f(S;L) = S^0.5L^0.5
Could it be profit maximizing for some firms to adopt the new technology but not profit maximizing for other firms to adopt that same technology? Which firms would choose to adopt the new technology? How would they be different from the firms that..
Suppose that your current income (Y1) doubles to $4,000 per year. What happens to your current consumption? What happens to your saving?
1. john davis a recent ie graduate from tennessee technological university bought an suv for 30000 with a down payment
Find the smallest and largest values of children in the sample. What is the average of children? Does any woman have exactly the average number of children?
If reputations are important, which restaurant will have a greater incentive to offer good service-one that is part of a national chain (such as McDonald's or Burger King) or one that is locally owned?
Every student enrolled in Economics 101 must also attend a weekly tutorial. This year there are two sections offered: section A and section B, which meet at the same time in adjoining classrooms and are taught by equally competent instructors. Sec..
The demand function for an oligopolistic market is given by the equation: Q = 180 - 4P The industry consists of one dominant firm whose marginal cost function is: MCd = 12 + 0. Qd Qs= 20 + P A. Derive the demand equation for the dominant oligopolie..
Advice for an Unprofitable Firm. You've been hired as an economic consultant by a price-taking firm that produces baseball caps. The firm already has a factory, so it is operating in the short run.
Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the following: 1.Compute the price elasticity of demand ..
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