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Monopolies and minimum wages
Using an appropriate diagram, show and explain briefly how a rise in the minimum wage could result in higher employment in a monopolistic labor market. Could a similar increase in employment accompany the rise in the minimum wage if the labor market is not monopolistic? Explain your reasoning.
Compute the optimal bundles of consumption. The total use of each good is independent of the rate of consumption of the other good.
Explain why does the minimum salary seem to have the greatest impact on teenagers.
Elucidate the own price elasticity for ATM fees charged to non-customers. At the current ATM fee, should you raise or lower your ATM fees.
Explain the effects of these shocks on the price level, real GDP, and the nominal interest rate. Use an upward-sloping, short-run supply curve in your analysis.
Evaluate the range of marginal revenues
Illustrate the steps comprised in pricing the television units in order to maximize total revenue.
Dr Leona Williams a well know Plastic Surgeon, has reputation for being one of best surgeons for reconstructive nose surgery. Dr Williams enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to b..
Describe how a change in investment can have big impact on GDP causing a nationwide slump. Recall that investment is "small" relative to the entire economy.
Develop an exponential smoothing forecast with smoothing constants α =0.1 and 0.3. What would be the forecast for week 11?
Show the weekly relationship among output also number of workers for a factory with a fixed size of plant.
Find out the equilibrium market price. Find out the profits of the leader and the follower
Compute the total revenue and total economic profit at each level of output. Compute the pizza shop's marginal costs and marginal revenue level of output. What is the profit maximizing rate of output for pizza shop?
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