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1. Draw labor supply and demand curves for cashiers in Hadley supermarkets.
a. Show the effect of a rise in the minimum wage to above the current wage rate.
b. Do you anticipate large employment gains or losses?
c. Show the area of wages (employment times the wage). What happens to this area with the increase in the minimum wage?
d. Would you favor a higher minimum wage?
2. Real World Micro 2.4: Jeannette Wicks-Lim argues that the minimum wage could be raised without causing significant job loss. Why, in her view, would companies pay higher wages without laying off workers? Do you agree with her? Would you favor a higher minimum even if it reduced employment?
Carefully think about O/v and I/v. O is the annual operating cost and v is the number of units produced PER YEAR. You might be given O/v as a ratio where the annual operating cost has already been calculated. If the capital for a project was $400 mil..
If the United States imports a specific product and exports a different product, what is the likely effect on the price of the product that the United States imports?
q.assume that the price elasticity of demand for cigarettes is .46 in the short run and 1.89 in the long run the income
Suppose there are two spice-producing firms, and each can set up one trading post. Illustrate where would they set up trading posts and what prices would they charge.
Consider the following possible schemes for taxing a monopoly: Explain how each of these taxes would affect the monopolist's profit-maximizing output choice. Would the tax increase or decrease the deadweight loss from monopoly?
What is Wirelesses' producer surplus from sales for each low-demand as well as consumer.
ABC Company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 shares of its common stock (par $10 per share; no market price was quoted). How should this transaction be reported on the Statement of Cash Flows (S..
Other counters that we are running out of cheap energy. Explain which person is correct also why.
The cost leadership approach implicates competing by having a lower cost than one's competitors
Shirley Johnson, portfolio manager, has asked you to analyze a newly acquired portfolio to determine its mean value and variability. The portfolio consists of 50 shares of Xylophone Music and 40 shares of Yankee Workshop. Compute the mean and varianc..
One day you realize you're tired of smelling like refried beans all the time and begin thinking about starting your own business. After doing some investigation you decide to spend 15 hours per week running a photocopy service in your dorm.
If the Fed raised the reserve requirement, the demand for reserves would
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