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Dirt Digger (DD) is a firm that excavates roadside ditches for laying drainpipe. Its output follows the production function: Q=10L-0.1L*2, where L denotes labor hour and Q the length of the ditch in meters. The firm hires labor at a wage of N$12 per hour and charges a price of N$2 per meter dug. a) How many workers should DD employ to maximize profit? b)Determine DD's profit maximization level of output. c) What will be DD's hourly profit?
amalia alexia and ariane work together in a homework group on a problem set. each group member i 123 can exert effort
Calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum wages). Is this a welfare gain or a loss?
Discuss the effects on a country's current-account balance from the following changes in tax rates. a. A permanent increase in the tax rate on labor income and b. A temporary increase in the tax rate on asset income
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Develop a paper detailing an analysis of market structures and relating pricing strategies that are suitable for each of these structures. Furthermore, include a real world example of pricing strategy for a specific U.S. company by identifying its..
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workers are compensated by firms with benefits in addition to wages and salaries. the most prominent benefit offered by
Suppose the annual inflation rate is at 2% and 8.5% of the labor force is currently unemployed. If you were on the Fed's Open Market Committee, what action would you prescribe? How would this affect the economy, the inflation rate, and the unemplo..
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