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It is observed that in an area with a lot of illegal immigration, the average wage of native born workers actually increased. Explain how this could have happened, using economic logic. Also, judge whether this is good or bad for the local economy.
The idea of the Law of Demand, as applied to electric cars, assumes which of the following to be constant? When economists say that the demand for a product has decreased, they mean that: Which of the following will not cause a change in the demand f..
With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 6 units of labor, 8 units of land, 2 units of capital, and 1 unit of entrepre..
Holloman Hops has a budgeted $300,000 per year to pay for labor over the next 5 years. If the company expects the cost of labor to increase by $10,000 each year, and the interest rate is 10%, what is the expected cost of the labor in the first year?
When using creativity to generate new concepts, should our focus primarily be directed to external markets? Why, or why not? Defend your answer and offer a specific example to support it.
Let the inverse demand curve for tennis classes is: P = 90 - 1.5Q.
What are the monopoly output and profits? Why are monopoly profits and collusive profits not the same? Is the collusive agreement in (b) a Nash equilibrium?
Explain how do payroll taxes levied on earnings of workers affect their decisions about Explain how much leisure they consume?
What percent of the total complaints can be attributed to the most prevalent complaint?
Look at those whose advertising went down by double digits from the prior year. Speculate about what might have caused those advertisers' expenditures to decline.
The corporate treasurer of Rollinsford Company expects the company to grow at 3% in the future, and debt securities at 4% interest (tax rate = 35%) to be a cheaper option to finance the growth. The current market price per share of its common stock i..
Andy purchases only two goods, apples (q1) and kumquats (q2). He has an income of $40 and can buy apples at $2 per pound and kumquats at $4 per pound. His utility function is U(q1,q2)=3(q1)+ 5(q2). What is his marginal utility for apples and what is ..
Just breaks even over the year as whole. a Wouldn't the restaurant do better by staying closed out of season. At what cost will it shut down, given that all its fixed costs are sunk.
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