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This is labor economics. Here is a question. If a modest but binding minimum wage is placed on a competitive labor market, what will happen to the price of the good made by firms in this market? How does your answer change if this is monopsonistic labor market? Provide with graphs.
The Lemon Test involves the Supreme Court's interpretation of which of the following constitutional provisions?
Suppose you are the owner-operator of a gas station in a small town. Over the past 20 years, you and your rival have successfully kept prices at a very high level.
Suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete. The firm has fixed costs of $10 million per year and a variable cost of $3 per bag no matter how many bags are produced. You find out that if yo..
State briefly the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly.
Using diagrams show what changes in price and quantity would be expected in the following markets under the scenarios given: Crude oil: As petroleum reserves decrease, it becomes more difficult to find and recover crude oil. Hotel rooms in Hawaii: Wo..
What happens to price of a bond that pays a fixed percent of face value every year when interest rates in economy increase.
Assume this economy is closed to trade, and compute consumption, government purchases, national saving, and investment.
q1. suppose a firm in each of the two markets listed below were to increase its price by 30 percent. in which pair
Following the collapse of systemically important banks in 2008, were the G-20 group of countries right in early 2009 to coordinate their fiscal policies and increase government spending? How would you distinguish the effect of such a policy on (i) co..
Suppose that the firm’s production function is given by Q = 10KL1/3. The firm’s capital is fixed at K. What amount of labor will the firm hire to solve its short-run cost-minimization problem?
Two firms compete in a market to sell a homogeneous product with inverse demand function P = 400 - 2Q. Each firm produces at a constant marginal cost of $50 and has no fixed costs. Use this information to compare the output levels and profits in sett..
Suppose the city eliminates its restrictions on books stores, allowing additional stores to enter the marketplace.
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