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In the text, we assumed that the labor supply did not depend on the real wage. Assume that at higher real wages, more individuals wish to work. Trace through how each of the steps in the analysis has to be changed. Show the equilibrium in the labor market. What happens to real wages, employment, GDP, and saving if the labor supply function shifts to the right?
You have just received a proposal from the marketing department that your firm's advertising budget should be increased by 20% from its current level of $250,000. The marketing department feels the proposed increase will stimulate sales and enhanc..
Suppose the productivity of labor and capital are as shown in the accompanying table. The output of these resources sells in a purely competitive market for $1 per unit. Both capital and labor are hired under purely competitive conditions
What is global per capita income today? $
Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm has constant marginal cost, MC = $3
A permanent scholarship fund is started through a donation of $173,478. If five scholarships of $9,409 each are awarded at the end of each year beginning 10 years from now, the rate of return for the invested money is equal
Fin the this combination using the information below and given that the prices of labor and capita are $1 and $3 pert unit repectively. Q= 0 1 2 3 4 5 6 7 8 TPI=0 11 20 28 35 41 45 46 46.5
A student borrowed $5,000 which she will repay in 30 equal monthlyinstallments. After her 25th payment she desires to pay theremainder of the long in a single payment. At 15% interestcompounded monthly, what is the amount of the payment.
Suppose that an economy has the Phillips curve p = p-1 - 0.5(u - u^n), and that the natural rate of unemployment is given by an average of the past two years' unemployment: u^n = 0.5(u-1 + u-2).
Based on your research, write an 6-8 page paper that researches the concept of internet telephony, as well as providing an analysis and comparison of several telephony technologies currently available.
Bounds Inc. has determined through regression analysis that its sales (S) are a function of the amount ofadvertising in two different media.This is given by the following relationship (X=newspapers,Y=magazines): S(X,Y) = 200X + 100Y - 10X2 - 20Y2 ..
Suppose that the forecast is that the U.S. and local economies will grow by an unusually fast rate of 4% in 2013. What should a small business selling paint do in the next three months to prepare for that growth in the eonomy
P= 1,100 - 2Q TC= 20qi Q = q1 + q2 1. Construct the Coutrnot profit function. Differentiate this function and solve for the reaction functions of firm one and firm two. 2. Consider the following general reaction function: qi = Ri (qj)qi=270q j/2
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