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Description of Minimum Wage
I need help with these questions. The teacher says that there will be questions like this on the test. Could someone please help.
1. Suppose government imposed a minimum wage above what otherwise would be the equilibrium wage rate for this segment of the labor market. Using a supply and demand framework of analysis, what do you expect to happen to employment in this segment of the labor market? (Assume that inflation and economic growth are both zero.)
2. If you were an economist for Mattel, manufacturer of the doll Barbie, which was making an unsolicited bid to take over Hasbro, manufacturer of G.I. Joe, would you argue that the relevant market is dolls, preschool toys, or all toys including video games? Why? Would your answer change if you were working for Hasbro?
3. In what market did Microsoft have a monopoly in the late 1990s? What technological advances threatened that monopoly?
Prepare an salary statement for the month utilizing the contribution format and the variable costing method.
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What is the present value of $300 to be paid in two years if the interest rate is 12%? What happens to reserves at Third National Bank if one person withdraws $2,000 of cash and another person deposits $750 of cash?
Throughout this course we have discussed the 'agency problem' - i.e., when the interests of owners and managers are not properly aligned.
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Full employment income is estimated to be $11,000. The current interest rate is estimated to be 4.178 recent. While last year total business investment spending was $900.
Elucidate that the indirect utility fuction of quasi convex function of prices and income
How much does the gross price increase in each market
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