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Assume that labor supply and labor demand are described by the following equation -labor supply: L=5w -labor demand: L=110-0.5w where w=wage expressed in dollars per hour, and L(s) and L(d) are expressed in millions of workers. a. find the equilibrium wage and the equilibrium level of employment. b. assume that there is a shock to the economy, such that the labor demand curve is now described by the equation: L(d)=55-0.5w If wages are flexible, what will be the new equilibrium wage and level of employment? show your work. c. Now assume that wages are rigid at the level you found in part (a). What will employment be at this wage? How many workers will be unemployed?
Activity-based costing uses: A. multiple cost pools to develop a single allocation rate B. multiple cost pools to develop multiple allocation rates C. a single cost pool to develop multiple allocation rates D. a single cost pool to develop a single a..
What steps can Congress and state legislatures take to alleviate a serious national shortage of skilled providers. Research suggests medical errors have been linked to inadequate staffing.
During the average month in 2006 she was logged onto the Web for 17 hours. Illustrate what is the average cost of an hour of Web time to Kety. What is the marginal cost of an additional hour.
Faraday issued preferred stock with a $4.80 dividend per year. If you buy the stock for $60, what is your return?
Utilize these values at this point on demand to make the subsequent computations.
A major electronics manufacturer expects to generate additional revenue from its recently won government contract. The company forecasts that the revenue will be $190 million in the first year, but will decline by $2 million every year for the next 3..
For the next two questions we will consider Rimor Bank, which has the following (partial) list of accounts on its balance sheet: Calculate the maximum amount of new money that Rimor Bank can create, by itself.
Assume the subsequent data describe o/p in two different yrs. Compute nominal GDP in every yr.
China's entry into the World Trade Organization (WTO) is likely to create more competition between local also foreign firms also provide China greater access to the marketplace for export.
Assume that you live in a simple economy in which only three goods are produced and traded.
Suppose Katie, Kendra, and Kristen each purchase a particular type of cell phone at a price of $80. Kate's willingness to pay was $100, Kendra's willingness to pay was $95, and Kristen's willingness to pay was $80. For the three individuals together,..
Elucidate why might an economist be skeptical of Billy's discrimination complaint. Billy works for the local piano-moving company part-time after school.
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