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Higher Wages for Landscaping Workers. Suppose that half of landscaping workers have a marginalrevenue product of $40 and an opportunity cost of $30 and the other half have a marginal-revenue product of $60 and an opportunity cost of $45. A landscaping firm cannot distinguish between the two types of workers. (Related to Application 4 on page 717.)
a. Suppose a landscaping firm offers a wage equal to $41. What is the average productivity of its workforce? On average, what is the firms profit per worker?
b. Suppose the firm increases its wage to $47. What is the average productivity of its workforce? On average, what is the firm s profit per worker?
c. What are the equilibrium wages?
Despite very low growth of GDP in 2008 and 2009, and still high unemployment rate of 9.5 percent in June 2010.
Modal choice: depends on the diversity of land-use, local population densities, and socioeconomic characteristics. However, the prevalence of walking and transit in traditional urban settings may be attributed to the self-selection nature of the s..
Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour, assuming she does not do anything else in that hour. She spends 5 hours per day studying. A. Draw Maria's production possibilities frontier (PPF) f..
Your accountants tell you that it costs $400 to set up an immunization program at a preschool and immunize one child against polio. It will cost $460 to immunize 20 more children.What is the cost per child for these additional 20 children
If the AD shortfall is $800 billion and the MPC is 0.8, (a) How large is the desired fiscal stimulus (b) How large an income tax cut is needed how much more government spending would achieve the target
Do you anticipate any changes to the demand and/or supply of this product in the near future? If so, what is driving these changes?
Below is the production possibility information of small nations Arboc and Arbez, which can produce two goods, wheat, and coffee. The maximum quantity of each good is shown in the table below. Assume the two nations trade in a world containing man..
due to a recession that lowered incomes the 2008 market prices for last-minure rentals of u.s. beach -front properties
Give the amount of the change in the equilibrium level of Real GDP due to a $6 increase in spending on goods and services by households. Give the amount of the change in the equilibrium level of Real GDP due to a $6 increase in spending on goods a..
You work on a doughnut farm--you grow doughnuts. In each period, you are able to grow 20 doughnuts. If you go to the coffee & doughnut exchange, you may buy and sell doughnuts for $1 each, and buy and sell coffee for $2 each.
a riskadverse manager is considering two projects. the first project involves expanding the market for hotdog the
Manufacturing equipment was acquired for $12,000. Determine the undepreciated capital cost of this equipment after 3 years of depreciation using CCA depreciation as a Class 43 asset (CCA rate is 30%).
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