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The year is 2035. In many occupations, robots are replacing humans. As it turns out, robots make very good house cleaners, but very poor ski instructors.
Assuming the other determinants of demand for the two services are roughly similar, you would expect the demand for human ski instructors to be(more elastic than, less elastic than,equal to elastic than,derived from) the demand for human house cleaners.
One factor that affects the elasticity of demand for labor is the elasticity of demand for the product itself.
The lower the price elasticity of demand for a product, the (higher or lower) the elasticity of demand for labor.
illustrate what would you estimate the difference between the inflation rates of the U.S. also Japan.
The first cash flow of a 25-year series of quarterly cash flows is equal to $35,000. Each cash flow in the series increases by $800. Find the amount of each cash flow in an equal quarterly cash flow series that is equivalent to the increasing cash fl..
For this assignment, you should first complete the following tasks: Build a 90% complete profile on LinkedIn. Make a list of people who could serve as a professional mentor or career coach for you. -Describe the role that networking can play in your ..
increases the amount of a product that consumers buy because it keeps the price below the competitive market equilibrium. Elucidate do you agree with the student's reasoning.
Southeastern Oklahoma state university's business program has the facilities and faculty to handle and enrollment of 2100 new students per semester. Although there was ample demand for business courses last semester, conflict in schedules allowed onl..
Suppose that the market demand for medical care is summarized by the following: p=400 and the market supply is summarized by the following function: p = 50 +3Q health insurance is made available with not deductible and a 25% coinsurance rate. Calcula..
By using the data (Up to the year 2008) for Euro zone countries (excluding Malta and Cyprus) from ‘OECD fact book’ discuss the impact of the following factors in bringing about the ‘Euro crises’: - Budget deficits and national debt 2- Balance of paym..
What would you say are the advantages and disadvantages of electronic communication? For example, hardly anyone faxes any more, we email. Do you feel texting is the next evolution for business communication? Or, is there something else? How do you ta..
Illustrate what kind of gap-inflationary or recessionary-will economy face after shock and illustrate what type of fiscal policies would help move economy back to potential output.
Explain what the quote, “Too many cooks spoil the pot” has to do with the law of diminishing marginal returns. In the context of a restaurant operation, what are the variable and fixed costs?
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
Suppose you are hired by the Martin guitar company as an economic consultant. You estimate the demand for Martin guitars to be Q = 8000 - 2P. Suppose the supply of Martin Guitars is given by Q = -2000 +3P. What is the equilibrium price of Martin guit..
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