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In short answer?
In a perfectly competitive labor market, why does the imposition of a minimum wage above the equilibrium wage level lead to allocative inefficiency?
Consider a consumer who allocates her income m to the consumption of goods 1 and 2. Denote by pi the price of good i = 1, 2. The consumer’s preferences are such that there exists a bundle x = (x1, x2) such that for any bundle y = (y1, y2), y ƒ= x, we..
Next, explain how this theory explains all three empirical observations(Preferred Habitat Theory). Interest rates on bonds of different maturities move together over time.
Industry demand is given by: QD = 1000 - P All firms in the industry have identical and constant marginal and average costs of $50 per unit. If the industry is perfectly competitive, what will industry output be? What will be the equilibrium price? W..
Suppose that two countries, initially in autarky, decide to create a single market. For simplicity, assume that in both economies there is only one product. Demand for this product is given by D(i) = S(i) (a – p(i)) (for i = 1, 2), where S(i) is a me..
Tariffs are more favorable to an importing country than quotas because: Which of the following best defines the business cycle? Suppose that 2000 is the base year used to calculate the CPI. And ethe CPI in the year 2007 is 110. What is the value of t..
If you deposit money today in an account that pays 6.5% annual interest, how long will it take to double your money.
Under what circumstance would you be no worse off if the company paid you cash instead of providing a car.
The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.
Suppose that the price index for the years 1980 and 2010 is equal to 60.0 and 180.0, respectively. Also suppose that Maya earned an annual salary of $20,000 in 1980. Given the above, how much would Maya have to earn in 2010 in order for her salary to..
Use a diagram to show the consumer surplus , producer surplus and total surplus of the market for groceries in this small town. Now suppose these small supermarkets successfully form a cartel which behaves like a monopoly, How does this cartel affect..
If a market begins in equilibrium and then the demand curve shifts leftward, a
q1. suppose you want a lump sum payment of 100000 three years from now. rounded to full dollars how many current
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