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Suppose the government introduces a subsidy on firms’ sales (e.g. for every $1 of output sold, firms receive an additional 5 cents from the government). Keeping everything else constant, what do you expect to happen according to the frictionless labor market model?
A drop in wages and an increase in employment.
An increase in wages and a drop in employment.
A drop in both wages and employment.
An increase in both wages and employment.
An increase in autonomous investment will cause equilibrium output to increase
The inverse demand function for lemons is defined by p=120-11q, the inverse supply is defined by p=8+3q.in the past there was no tax on leons but now a tax of $84 per crate
The relevant cost in economic decision-making is the opportunity cost of the resources rather than the outlay of funds required to obtain the resources.
Explain how does the price elasticity for flu vaccinations change in times when flu is more prevalent versus times when flu is less prevalen.
Assume an initial exchange rate where $1 = €1. An American company sells $10 million in goods to a German firm. The American company will receive less than $10 million in revenues if (assume no transactions to prevent exchange rate risk):
Consequently, the firms’ top accountants and financial manager argue that the firm should raise the price of the product 10 percent above its original target to help recoup some of these costs. Does such a strategy make sense? Explain carefully.
The owner of a baseball team and local stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 - 0.2Q, where P is the average price of a ticket and Q represents the number of seats (expressed ..
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Find the optimal consumption bundle. Suppose that the consumer experiences an increase in real wage. Find the new optimal consumption bundle and determine the income and substitution eects. Clearly indicate both eects on consumption and leisure chose..
What would happen to the equilibrium price and quantity of latte´s if coffee shops began using a machine that reduced the amount of labor necessary to produce steamed milk, which is used to make latte´s, and scientists discovered that latte´s cause h..
Suppose we randomly poll 500 Americans and ask them whether they believe that the parents are involved. What is the distribution of the sample mean.
First Printing has contracts with legal firms in San Francisco to copy their court documents. Daily demand is almost constant at 8,500 pages of documents. The lead time for paper delivery is normally distributed with a mean of 2 days and a standard d..
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