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When the wage rate rose from $6.25 per hour to $6.75 per hour, employment in Fast food, Inc. fell from 5,100 to 4,900. What is the price elasticity of demand for labor?
Which of the following is an example of monopoly?
q1. during the late 1980s wool prices increased considerably due in part to increased demand by china and the former
q1. sam purchased a 5 year treasury note with a 1000 face value and a 7.5 coupon rate. with the help of excel
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90-0.20Q. If there is a price floor of 2.94, what would be the quantity traded?
Suppose that the labor market is competitive and there are a total of 1,000 black workers and 1,000 white workers (who each supply their labor in elastically). Both black and white workers are equally productive, having constant individual dollar pro..
How do tariffs work? Illustrate by referring to U.S. lumber imports from Canada, suing any set of quantities and prices to make your point. Public housing and public protection are two of many goods that government provides. One is considered a publi..
GDP and the Multiplier Application. Most estimates indicate that the marginal propensity to consume in China is approximately 0.50. If we ignore a rise in the price level generated by a boost in aggregate demand that results from an increase in real ..
If Jones sells the equipment today for $180,000 and its tax rate is 35%, what is the after-tax cash flow from selling it.
A risk-neutral consumer is deciding whether to purchase a homogeneous product from one of two firms. One firm produces an unreliable product and the other a reliable product. At the time of the sale, the consumer is unable to distinguish between the ..
Explain your answer the economy experiences an unexpected recession; the price of Good Z increases. The price of Good Y increases; the price of Good Z increases.
Illustrate what is the slope of the budget line for apples and bananas if apples were graphed on the horizontal axis and bananas were graphed on the vertical axis.
The sales manager for ABC Electronics wants to maximize his profit on the sale of two portable media player models, JVD-2000 and MDP-72. The wholesale costs of these models are $310 and $100 per unit respectively. Find the optimal number of the two d..
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