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The impact on unemployment would be greater if the demand for labor was elastic. Inelastic demand would mean that no matter explain how much the minimum wage was, employers would still be more likely to pay it. Elastic demand means the cost of labor would have a large effect on the number of workers hired.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
Which one may under present quality. Describe concepts of prospective also retrospective payment for services.
Analyze the equilibrium cost and quantity in this case and label it on your graph. Moreover calculate, deadweight loss, consumer surplus as well as industry profits.
How much output is lost as a result of deaths from secondhand smoke, according to the news.
Describe the strategies utilized by the critics of the infant formula companies. Elucidate the concerns of the critics of the formula companies.
In the 21st century Explain how has globalization affected trade restrictions also the development of common markets
Assume that the firms act independently as in the Cournot model i.e., each firm assumes that the other firm's output will not change.
Illustrate what is the dollar value of the deadweight loss when output level is produced? Illustrate what is the dollar value of the total surplus when output level is produced
Find out the optimal price-quantity if the firm is not able to price discriminate.
The market demand and supply function for VCR movie rentals are: QD= 10 - 0.04p and QS 3.8P = 4. Calculate the equilibrium quantity and price.
Suppose the owner of the trawler can sell al the fish caught for $75 every 100 pounds also can hire a man crew members as desired by paying them $150 every week.
The government plans to rise state spending by $2bn in the next fiscal year.
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