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Hiring workers An employer needs to attract a high skilled worker but does not wish to spend time and money on recruitment processes. She selects the first worker who can prove they were employed throughout the last five years. The employer believes that a high skilled worker has a 90% chance to have a job in any given year; a low skilled worker is believed to have a 50% chance to have a job in any given year. Further, the employer believes that 70% of all applicants are low skilled workers; the remainder are high skilled. Finally, assume there are 10,000 applicants. a) What is the probability that the employer will hire a high skilled worker? b) Argue why that probability will be very similar if the employer believes in the 'hot-hand' effect?
Suppose the bottle water industry is competitive. If a bottle of water supplied by the typical firm has an ATC of 20 cents and the market price if 30 cents.
Choose an existing good or service from Will Bury's Price Elasticity, Incremental expenses, or Thomas Money Service Corporation scenarios, or choose an existing business with which you are familiar.
A restaurant industry has a market structure that comes closest to
Mark discovers that he needs to do an additional $200 of work to make the cabinet worth $360 topotential buyers. He could also sell the cabinet now, without completing theadditional work, for $100. What should he do?
Consider the advantages and disadvantages of the European Union adopting a common currency and determine if this move was a good idea or not
What fact might lead the manager to be concerned? If true, what do you think is likely to happen to the price of products G.R. Dry Foods sells?
Describe how the circular flow diagram illustrates the interaction of households, governments, and business and Describe the relationship between market and aggregate supply and demand?
What fiscal and monetary policies are appropriate at this time pertaining to the Affordable Care Act? What monetary and fiscal policies are appropriate during this government shut down, or what will be necessary immediately following the shut dow..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
Critique or defend two (2) of Jevons' views on public policy. Substantiate your position with evidence of the success or failure of current public policies favored by William Stanley Jevons.
Alfred chan decided to buy an old duplex as an investment. After looking for several months, he found a desirable duplex that could be bought for $300,000 cash. He decided that he would rent bought sides of the duplex, and determined that the tota..
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