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a. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the response in the monopsonistic market to the response that would have been observed in a competitive labor market.
b. Suppose a firm is a perfectly discriminating monopsonist. The government imposes a minimum wage on this market. What happens to wages and employment?
In the aftermath of September 11 terrorist attacks, the quantity of sold airline tickets in 2002 fell by a large percentage when compared to 2001. During the same time period the average price for airling tickets also fell.
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
International trade is most likely to occur whenever a. one of the trading nations is self-sufficient b. all of the trading nations are self-sufficient c. one of the trading nations gains from trade d. each of the trading nations gains from trade
Residents of your city are charged a fixed weekly fee of $6 for garbage collection. They are allowed to put out as many cans as they wish. The average household disposes of three cans of garbage per week under this plan.
The wage paid to engineers is $4000, while technicians, who are not as skilled as engineers, receive $2000. The firm's budget on a particular project is $28,000. How many engineers and how many technicians should be hired in order to maximize p..
The 5-recent or historical government actions dealing with the macroeconomic policy. For each scenario estimate if it represents fiscal policy or monetary policy, and describe your reasoning.
Compute the natural rate of unemployment. Does it depend on the way people form their expectations of inflation? 2. Discuss the way people form expectations of inflation is modeled. 3. Compute the rate of inflation for years t, t+1, t+2 and t+3. 4. N..
Trade Restrictions Effects on Exchange Rates. Suppose that the Japanese government relaxes its controls on imports through Japanese firm.
How do costs play into your everyday life For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate? Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)
Is the firm minimizing costs? If not, what steps should it take to lower costs and still produce the same level of output?Is the firm minimizing costs? If not, what steps should it take to lower costs and still produce the same level of out..
You manage the plant the mass produces engines by teams of workers using assembly machines. The technology is summarized by production: Find out the short run production function? Find out the total cost function for your plant to produce q engines ..
People enjoy outdoor holiday lighting displays, and would be willing to pay to see these displays, but can't be made to pay. Because those who put up lights are unable to charge others to view them, they don't put up as many lights as people would..
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