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The following questions for the Amazon Company.
Briefly explain what influences the supply of labor used in this business.
Briefly explain what influences the demand of labor that this business uses.
What might be some ways that this business could reduce its costs per unit (ATC)?
How might the business be able to increase its revenue?
Besides levying taxes, how does the government (state, federal or local) impact the way this business operates. Be specific.
Would you consider the demand for the good or service this business produces to be elastic or inelastic? Briefly explain why.
What would you consider to be the long-run for this business? In other words, how long would it take them to be able to alter every aspect of their production process and change all of their factors of production? Why is it not longer or shorter?
Consider two workers with identical preferences. Phil and Bill. Both workers have the same life cycle wage path in that they face the same wage at every age, and they know what their future wages will be. Leisure and consumption are both normal goods..
And within a few months, they reduced the amount of scrap to $7,000 worth [per year]." Was this necessarily an economically efficient move? Explain your answer.
Assume that the supply of soda is more elastic than the demand for soda. Using a supply and demand diagram and a "tax wedge," show whether the buyers or the sellers will bear the bigger burden of a soda tax.
Calculate the substitution and income effect for the utility function: u(x,y) = x + lny and show that the Slutsky equation applies to those cases.
determine what would happen to total revenue if a firm raised its price in each elasticity range identified.
The Australian dollar has appreciated strongly over the past decade, leading to increased concerns over the impacts of the high exchange rate on trade-exposed sectors of the economy".
Suppose that inventories fall by $2 billion, consumption increases by $8 billion, unemployment insurance payments decline by $4 billion, and imports rise by $1 billion. By how much should measured GDP change?
By itself, the substitution effect of an increase in the wage rate will
Explain why most market labor supply curves slope upward and to the right, even though individual labor supply curves are presumed to be backward-bending. How does the height of a market labor supply curve relate to the concept of opportunity cost?
If the US were to triple the amount of food stamps and housing assistance, then the direct and immediate effect on US poverty rates as officially measured would be:
q1. difference between deflation and disinflation? what is bad about deflation? can you distinguish between anticipated
Elucidate what evidence of excess supply or excess demand can you cite in these examples.
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