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How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand? Do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-care/ landscaping industry?
Use method of Lagrange multipliers to find the cost function c(r,w,y). Find out the average and marginal cost. Find out the interpretation of the Lagrange multiplier in part (a)? What is the importance of term (a+b) being less than, equal to, or grea..
Assume that the demand and supply functions for good X are as follows: What is the equilibrium price and equilibrium quantity?
Explain how a company that is competing in a purely (or perfectly) competitive market should increase its competitive stance in the marketplace. Provide specific examples.
Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket.
Suppose that the reserve requirement is 10 percent and the balance sheet of the People's National Bank looks like the accompanying example. • What are the required reserves of People's National Bank Does the bank have any excess reserves
Margie has just attended the funeral of her son William, who died this week after several years of poor life quality in the same nursing facility. William's first stroke happened 3 years prior; two more strokes followed, and he lingered in poor he..
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
Assume that someone told you that an increase in price of DVD players caused the decrease in demand for DVDs. Is this what you would predict? Why or why not?
Computer software utilizes skilled labor relatively intensively.If trade between the U.S. and India is free, which good will the U.S. export and which will it import? What will happen to production of the two goods (increase or decrease) in the U...
the present value of his endowment would be what? I know the answer is 2500, but I need to know HOW you get this?
When GDP is high or increases does it indicate higher income If so when GDP per capita increases why do saving ratios decrease when savings is income induced ie a rise in income increases savings and a decrease in income decreases savings
Identify the stocking rate that you would suggest to a risk averse farmer and explain why you would recommend this stocking rate.
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