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Suppose that on January 1, 2020, the population of a country is 100 million. During 2020, there are 1 million births and 500,000 deaths. In addition, 2 million people immigrate to the country while 500,000 emigrate. What is the population on January 1, 2021? What is the population growth rate of this country in percent? What proportion of the population growth is the result of natural increase? Show your work and explain.
Let Y represent income and L represent hours of leisure. Mike's utility for income and leisure is U(Y,L) = Y x L so that marginal utility of leisure = Y and the marginal utility of income = L. Total hours available for leisure and work in any given w..
Union B faces a demand curve in which a wage of $6 per hour leads to demand for 30,000 person hours, whereas a wage of $5 per hour leads to demand for 33,000 person hours. Which union faces more elastic demand curve.
How would the following changes in price affect total revenue? That is, would total revenue increase, decline, or remain unchanged?
There are two firms A and B located in different regions that produce an identical good at zero cost. Each region is inhabited by a single buyer interested in purchasing at most one unit of the good. The RP of each buyer for one unit of the good is $..
Which of the following are methods used by the Federal Reserve to affect the supply of money in the U.S. economy, and which are not? Place each item under the appropriate title. Methods the Fed uses to affect the money supply Not a method used by the..
How each market participant cares only about their own self interest rather than about the overall efficiency of resource us
Estimate the deadweight loss from monopoly. Assume, in addition to the costs above, the musician on the album has to be paid. The company is considering four options.
If the two firms could collude and agree on Explain how to split the total profits, Illustrate what outcome would they pick.
The labor market for NBA players is perfectly competitive. The Labor Supply curve is Q= -20+3w. The marginal expenditure curve is ME= (2Q+20)/3. The Labor Demand curve is Q=125-2w. The Marginal Curve is MR= (125-2Q)/2. Both the players and owners do ..
What are two ways a seller of labour (that is, someone looking for a job) might reassure a possible employer who is faced with imperfect information? What are two ways that a farmer looking to rent ground might reassure a landowner that is faced with..
q1. visualize you are a manager for good or service used. from results of the deterioration equation recommend
In order to rule on a potential federal grant, a government official must confirm that the average income in a Pennsylvania county is less than $12,500. A sample of 35 individuals is taken and shows a sample mean of $10,950 and a sample standard devi..
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