Own-wage elasticity of demand for these workers

Assignment Help Business Economics
Reference no: EM131003312

If the quantity of steel workers demanded falls from 30,000 to 20,000 when the equilibrium wage increases from $9.00 per hour to $11.00 per hour, then the own-wage elasticity of demand for these workers is/

Reference no: EM131003312

Questions Cloud

Should a perfectly competitive firm making a loss : Watch the video for the week, read the lecture notes carefully before you answer the question. Should a perfectly competitive firm making a loss in the short-run always leave the market? Why? What about in the long-run?
The economy is starting from equilibrium : The economy is starting from equilibrium. The following shocks then hit the economy in order: interest rates rise, business taxes increase, and there is an expectation among consumers that there will be a severe increase in inflation over the coming ..
Benefits and drawbacks of having a health program : What are the benefits and drawbacks of having a health program that varies by state versus having one that is uniform across the country? Do you find that the positives of state flexibility outweigh the negative or vice versa? Is it fair that similar..
How does it affect the funded status of the plan : When accounting for pension costs, how should the payment into the pension fund be recorded? How does it affect the funded status of the plan?
Own-wage elasticity of demand for these workers : If the quantity of steel workers demanded falls from 30,000 to 20,000 when the equilibrium wage increases from $9.00 per hour to $11.00 per hour, then the own-wage elasticity of demand for these workers is/
Tfc inc revises its estimate of future salary levels : TFC Inc. revises its estimate of future salary levels, causing its PBO estimate to increase by $3 million. How is the $3 reflected in TFC's financial statements?
Consumer surplus represents-consumer deficit : “Consumer surplus” represents the difference between what a consumer is willing to pay for a good or service and the price that they actually pay. In other words, the concept of consumer surplus indicates how much consumers gain from consuming goods ..
Embark on a dangerous journey : Why would Christians in the West be moved to embark on a dangerous journey to fight in the Holy Land after hearing Pope Urbans speech at Clermont?
How is this funded status reported on the balance sheet : How is this funded status reported on the balance sheet if plan assets exceed the PBO? If the PBO exceeds plan assets?

Reviews

Write a Review

Business Economics Questions & Answers

  Fundamental problem the science of economics is concerned

Farmer brown produces eggs and milk on his farm. He initially produces at point A. HE WOULD LIKE to produce the same amount of eggs per day and increase his milk production by one gallon per day. how does the production possibilities curve ( ppc) ill..

  Create vital opportunities and threats for organizations

According to Michael Porter, what are the five competitive forces that create vital opportunities and threats for organizations? Which force do you feel is most important in the computer industry today? Why

  Discuss the concept of the optimal amount of inequality

Discuss the concept of the “optimal amount of inequality.” What are some of the practical problems in determining how much inequality really is optimal?

  Sell their output in imperfectly competitive markets

In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets. Cite as many examples as you can of these types of businesses.

  What nominal rate should they charge borrowers

Recently, the average rate paid by banks on savings accounts was 0.45%. However, at the same time, inflation was around 1.50% what was the average saver’s real rate of interest on his/her earnings? (b) Banks expect that the rate of inflation in the c..

  Exports and imports are substracted from u.s. gdp

U.S. exports and imports each affect domestic production because: A. imports are added to U.S. GDP and exports are subtracted B. exports and imports and added to U.S. GDP C. imports are substracted from U.S. GDP and exports are added. D. exports ..

  Money supply be banks fully utilized their lending capacity

What would the lading capacity of the banking system be after such a portfolio switch? How large would the money supply be if the banks fully utilized their lending capacity?

  Accomplish this change in the money

If it wants to accomplish this change in the money supply using open-market operations, what should it do.

  The marginal cost of filling out tax returns

Jose rents office space for $20,000 per year. He uses the office to fill out tax returns for 1

  Demand for housing falls-reducing planned investment

If the demand for housing falls, reducing planned investment by $75 billion, what is the effect on national income and output (GDP) (the consumption function is c = 50 + 0.7 (yd)) Wouldn't this answer just be GDP will be reduced by 75 billion? I am n..

  Q1 converse the federal budget also relate it to principles

q1. converse the federal budget also relate it to principles of living in an discovery of fiscal policy. look after

  Price change to cause no substitution-income or toal effect

It is impossible for a price change to cause no substitution, income, or toal effects. If you believe the statement is false, sketch a graph demonstrating how a price change could cause no substitution, income, or total effects. A large pharmaceutica..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd