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Supply of labour and increasing retirement age
The age at which women could obtain the age pension will gradually raise from 60 - 65. Over the last 5 years the participation rate of women between 60-64 increased and at the same time the age at which women could get the age pension was also raised from 61 to 62. By describing (in words and a diagram) and then adopting the main features of the neoclassical supply of labour, explain how these two factors may be related.
Discuss the reason why governments might want to intervene and how they might do- with respect to the following "problem" in the functioning of an otherwise perfectly-competitive ("pareto-efficient") economy:
Write down the relationship between savings, capital formation, and consumption.
A profit-maximizing monopolist never produces in the inelastic part of a linear demand curve. The short-run supply curve of a competitive firm is its MC curve.
In a perfect capital market, advices for a corporate financial manager on making capital structure decisions.
In recent years, consumption spending by households has accounted for about 70% of the total spending (aggregate demand) in the U.S. economy.
Use the following data for a pure monopoly to calculate the firm's-its profit-maximizing output level and produce price;
They could have rented it on the open marketplace for $700 per month. The condo owner was formerly renting the unit for $500 every month.
Using a supply and demand graph, make one shift of wither the supply or demand curve to illustrate the likely result of this action.
Suppose each cake costs the same to make, what is the average cost to produce a cake. Compute Alyssa's labor productivity ration in dollars per hour for each type of cake.
Using the midpoint formula, calculate the price elasticity of demand for the following problem: Calculate the income elasticity of demand using the general formula for elasticity:
Assume the government decides to pass a law that requires all businesses to delay all future layoffs, giving at least 3 months notice to any workers they plan to lay off.
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
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