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Suppose the firm’s production function is given by: (15) q = 10 x (square root of: Ew + Eb)
It can be shown that the marginal product of labor is then given by: MPe = 5 divided by (square root of: Ew + Eb)
Suppose that the market wage for black workers is $10, the market wage for white workers is $20, and the price of each unit of output is $100.
(a) How many workers would a firm hire if it does not discriminate? How much profit does this nondiscriminatory firm earn if there are no other costs?
(b) Consider a firm that discriminates against blacks with a discrimination coefficient of 0.25. How many workers does this firm hire? How much profit does it earn?
(c) Finally, consider a firm that has a discrimination coefficient equal to 1.25. How many workers does this firm hire? How much profit does it earn?
q1. are recessions a necessary fact of macroeconomic life? if not illustrate what would it take to eliminate them? if
For winners of the California SuperLotto Plus the choice is between a lump sum and annual pay- ments that increase from 2.5% for the first year, to 2.7% for the second year, and then increasing by .1% per year to 5.1% for the 26th payment. This is es..
Advocates of stabilization policy prefer quick medicine for economic ills. This leads some observers to favor fiscal policy while others endorse monetary policy. Describe the positions of each side in the debate and what seems to be the current conse..
q. assume the united states exports 2000 computers at a cost of 3000 each and imports 200 uk autos at a cost of
no less than 1000 words excluding the title page bibliography and appendices.question 1. a study into the key
Consider two Bertrand competitors in the market for brie, Franc ¸ois and Babette. The cheeses of Fran ¸cois and Babette are differentiated, with the demand for Fran ¸cois’ cheese given by qF = 30 − pF + pB , Find the equilibrium price, quantities, an..
Privatization can be defined as "the process of returning to the private sector property or functions previously owned or performed by government". The basic idea is that there may be some services that the government is providing right now that the ..
The marginal cost of a college education is given by the equation MC = ½ Qs + 2, where Qs represents the national student enrolment in millions each year. The demand for a college education is given by the inverse demand function P = -½ Qd + 18. In a..
What would happen if no one tried to manage the business cycle? What role do you see for the Executive Branch of the U.S. government in managing the business cycle? How does fiscal policy work? What are its limitations? How does monetary policy work?..
Should antitrust laws (or other regulatory policies) attempt to eliminate all forms of imperfect competition? Why or why not?
Does the marginal utility of x diminish, remain constant, or increase as the consumer buys more x? Explain
Expanding on Lab 5a, design a circuit and Arduino program that accomplishes the following: Implements all of the functionality of the Pentatonic Micro Piano.
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