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In a particular industry, labor supply is ES=20+w and labor demand is E D=60-4w, where E is the employment level and w is the hourly wage.
a) What are the equilibrium wage and employment if the labor market is competitive?
b) What is the unemployment rate? [Help: the unemployment rate is defined as the number of unemployed workers divided by the labor force, that is, the number of employed plus the number of unemployed workers.]
c) Suppose the government sets a minimum hourly wage of $10. How many workers would lose their jobs? How many additional workers would want a job at the minimum wage? What is the unemployment rate?
Perform a Google search to find what externalities these proponents claim. Do you believe that these externalities claimed are truly externalities and justify government subsidies of home ownership.
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Determine to the extent possible the relative market shares of these firms. Discuss the degree of concentration in the industry using CR4, other n-firm concentration ratios, H-H indices, etc.
The south african government is not providing enough welfare to the poor
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An executive from a large merchandising firm has called your vice president for production to get a price quote for an additional 100 units of given product. The vice president has asked you to prepare a cost estimate,
In the late 1990s, car leasing was very popular in the United States. A customer would lease a car from the manufacturer for a set term, usually two years, and then have the option of keeping the car. If the customer decided to keep the car, the cust..
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