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Consider a firm that faces an upward sloping labor supply curve.
a.) What factors might account for such a curve?b.) If the firm faces a horizontal supply curve of labor at W*, how would it determine E*, the equilibrium level of of employment?c.) Since it is an upward sloping curve, it will not pick E*. How will it decide how much labor to employ, and how will the equilibrium level of employment (E**) compare with E*? Explain the reason for the difference between E* and E**
Assume that gasoline retailing industry is perfectly competitive, constant expenses, and in long run equilibrium. If the government unexpectedly levies a 5-cent tax on every gallon sold by gasoline retailers,
You are planning to build a new home with approximately 2000-2500 gross square feet of living space on one floor. In addition, you are planning an attached two-car garage (with storage space) of approximately 450 gross square feet.
Calculate the long-run equilibrium values of r and P, assuming that the potentiallevel of output (Y*) is equal to 3500 monetary units.
Utilizing the economists model of individual choice comparing the marginal costs and marginal benefits of a choice.
Assume the rural wage is $1 per day. Urban modern sector employment can be obtained.
The presentation should introduce and analyze an interesting environmental regulation proposal, a firm's unique environmental strategy
Explain the influence that transferable property rights versus non-transferable property rights, has on individual decision making.
Suppose a soft-drink firm is grappling with the decision about whether or not to introduce to the market a new carbonated beverage with 25 percent real fruit juice. Elucidate how might it use the six decision steps to guide its course of action.
Explain why should you, as a future employe, be concerned about the downward trend in labor productivity increases that have been observed since the early 1970s.
Solve for the elasticity of demand as a function of the market price. Draw this function for P [1/3, 2/3]. Suppose a (small) sales tax is imposed on potatoes. Would the burden of the tax fall mostly on consumers, mostly on producers, approximate..
Show the effects of each of the following shocks on output (Y) and the price level (P) in both the short-run and the medium-run .Assume the economy is originally at the natural level of output (Y n ).
if demand for milk is inelastic, but there is an increase in supply, what would happen to milk prices and total revenue of milk salesif floods destory a corn crop and i wanted to estimate the impact of the decrease in the supply of feed crops on t..
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