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A life insurance salesman spends 9 hours a week on the telephone soliciting new clients. Fro past experience, the salesman estimates that each hour spent calling students, blue- collar workers, and professionals will produce the following number of additional sales: Hours calling (1 to 6), studnets( 10, 8, 6, 4, 1, 0), Blue-collar Workers (8,6,4,1,0), professionals (14, 11, 8, 6, 4, 1). Q-1. Hours spent calling students= ? Q-2. Hours spent calling blue-Collar workers=? Q-3. Hours spent calling professionals=?
What is a perfect (pure) price competition model and what are its assumptions? Explain in detail how the price competition model is supposed to work, its process and the outcome (this includes many components relating to the quality of goods, the typ..
Put the following arguments into standard form for their type and evaluate for strength according to the criteria for that type. Some reconstructions might involve adding premises. One third of the 4,800 species of frog are threatened with extinction..
Why is their a growing disparity between the rich and poor in the US? What are some of the reasons for this and what should the government do to bring about growing equality with income? Do we as citizens have an ethical responsibility to help the po..
Two consumers Jorge and Admen, together own 1,000 baseball cards and 5,000 Pokémon cards.
q.a computer manufacturer developed the following demand curve.q - 700p 80i - 500s 0.01awhere p is the price of a
Elucidate what happens to the price of oranges and the marginal product of orange pickers as a result of the freeze. Can you say what happens to the demand for orange pickers.
Evaluate the federal fiscal policy and monetary policy in terms of the Austrian approach to macroeconomics and the Structuralist Keynesians. While preparing your answer, pay particular attention to their impacts on the national economy and income dis..
Explain why, when the price of good changes, the price elasticity of demand is likely to be higher or lower as a longer period of time elapses. Consider as an example the OPEC oil price increases in the 1970s.
Consider a person who can work up to 80 hours each week at a pre-tax wage of $20 per hour but faces a constant 20% payroll tax. Under these conditions, the worker maximizes her utility by choosing to work 50 hours each week. On a single graph, draw t..
a driver faces a 5 probability that his car will be in an accident and will be worth nothing. consider three drivers
The economy depends on Consumption for short term economic activity and Financial Investments for future economic growth. Frictional unemployment is sometime caused by negative Friction between the now unemployed worker and her boss. Cyclical Unemplo..
First suppose that there is no tax in the country Randland. A resident, Dagny, has an hourly wage of $50. How is it possible for Dagny to increase her hours worked after a tax? Graph the labor supply decision for Dagny on a daily income-leisure graph..
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