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The next three questions refer to the graph below. (Assume that the premigration labor force in country A is a and that it is h in country
B.) Explain your answers with reference to areas in the graph (1, 2, etc.) or to letters (a, b, c, etc.).
(a) What will happen to wage rates in country A and country B because of the migration of labor from country B to country A?
(b) What will happen to domestic output in country A and country B after immigration?
(c) What will happen to world output given the experience in these two nations?
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words
Assume marginal cost increases to 25 as a result of imposition of a tax. What takes place to monopoly and competitive price and output?
The Wall Street Journal reported that recent law school graduates were having a very difficult time getting jobs in the legal profession. Many law schools said that ten to 20% of their graduates still had not found jobs.
A restaurant industry has a market structure that comes closest to
If the goal of the transit authority was to maximize total revenues, what is the new price it should set? Also, what would the total revenue raised in this new price scheme?
At present current business how do changes in macro environment effect individual companies and industries through microeconomic factors of demand, production, cost, and profitability?
Draw two diagrams, side by side with the money market diagram for Denmark on the left and the expected return in krone / exchange rate diagram on the right hand side.
A South America nation with fixed exchange rate system has close economic ties with USA symbolized through extensive trade and unrestricted flow of capital between two nations.
Determine how does globalization lead to greater competition in market place? Discuss the implications for market structure in industries opened to global competition?
What does the market for sugary sodas look like? Provide a supply-demand graph with realistic prices.
Defenders of Communist economic systems may point out that customers pay lower values for certain goods because government imposes a limit on what manufacturer may charge.
What is the source of these profits? Upon patent expiration, numerous rival drug companies offer generic versions of the drug to consumers.
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