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1. Suppose that in the market for US meat packers, two things happen simultaneously: 1. Due to growth in less developed countries, the demand for US meat exports rises; and 2. Due to other job opportunities, fewer people find meat packing an attractive job.
a. Which curve in the labor market for meat packers (demand or supply or both) would be affected by those changes? Explain.
b. If there were no other changes in the market except those explained above, predict the impact of these events on the wages of meat packers. Explain.
2. Research current employment and unemployment statistics. What was the US unemployment rate last month? What was the unemployment rate in your county? Using the information from the powerpoint, what type(s) of unemployment do you believe is occurring in the US and in your locality? What sectors of the labor market are forecast to be the strongest in your region/locality? What advice would you give young workers who are preparing to enter the workforce in a few years?
3. Choose 2 of the following to discuss based on Chapter reading and the video on immigration. Discuss how immigration restrictions, discrimination or occupational licensing make the labor market less "perfect" from an economist's perspective. Do you have personal experience with either of the topics that impacts your perspective? If so, explain.
Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs and between marginal and average variable costs and what best accounts for the saying "Too many cooks spoil the broth?"
What literature you are reviewing and how it contributes to your research question. You might want to consider areas such as additional readings on theory, policy relevance, debates and existing findings.
A New Hampshire resort offers year-round activities: in winter, skiing and other activities to be cold; and in summer, golf, tennis and hiking. The costs of running resort are essentially the same in winter and summer.
Calculate the mean and standard deviation of 1-year and 20-year Treasury Constant Maturity Rates data series. Using the graphs and the results
Determine the profit-maximizing average monthly production capacity for DermaPlus for each of the possible reference-based prices identified by the consultant. Estimate the expected monthly profit in each case.
Airlines practice price discrimination by charging leisure travelers and business travelers different prices. Different customers pay varying prices for essentially the same coach seat because some passengers qualify for discounts and others do no..
John Adams wrote in 1814, "Democracy never lasts long. It soon wastes, exhausts and murders itself. There never was a democracy yet that did not commit suicide."
Analyze how production and cost functions in the short run and long run affect the strategy of individual firms.
Calculate MC and then use the same equation to find out the new price. ¦e¦is the absolute value of demand elasticity and determine the breakeven output and total sales revenues and draw the cost-volume-profit chart.
A manufacturer of outdoor clothing makes wax jackets and trousers. Each jacket requires 1 hour to manufacture, whereas each pair of trousers takes 40 minutes.
Suppose it costs each person $20 a day to fish and that fish sell for $10 each at the market. At the social optimum, how much would it hurt all the other fishermen (combined) if one more person started fishing?
Determine how the following situations will affect the demand curve for ipods.
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