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In an effort to reduce their total costs, many companies are now replacing paychecks with payroll cards, which are stored-value cards onto which the companies can download employees' wages and salaries electronically. If the only factor of production that a company varies in the short run is the number of hours worked by people on its payroll, would shifting from paychecks to payroll cards reduce the firm's total fixed costs or its total variable costs?
Suppose that the income elasticity of demand for land is +0.75. The unit commuting cost (cost per mile) is the sum of monetary cost (30 cents per mile) and time cost (opportunity cost). Suppose that the typical commuter earns a wage
Illustrtae what does the agent choose if the terms are worse than actuarially fair.
Yet after telling the bank of his conditions the bank refuses to hire Gorton. He sues based on the Americans with Disability Act (ADA). Who wins and why? Would it matter if Gordon never told the bank about his HIV and allergies? If no, why not? If..
Explain how would the subsiquent changes in price affect total revenue. What are the major determinants of price elasticity of demand.
Assume that gasoline retailing industry is perfectly competitive, constant expenses, and in long run equilibrium. If the government unexpectedly levies a 5-cent tax on every gallon sold by gasoline retailers,
According to the life-cycle hypothesis, determine the typical pattern of saving for an individual over his or her lifetime?
Calculate the labor rate also efficiency variances for the month. Was paying workers the actual wage rather than the standard wage an efficient strategy for Loring.
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers.
Vera is an impoverished graduate student who as only $100 a month to spend on food-Explain why Vera's preferences are of a very special type here. How would you graph them?
Describe various revenue models available as video content shifts from atoms to bits. What are the advantages and disadvantages to each - for consumers, for studios, for middlemen like television networks and Netflix
Suppose that the production of $1 million worth of steel in Canada requires $100,000 worth of taconite. Canada's normal tarrif rates for importing these goods are 20% for steel and 10% for taconite. Given this information, calculate the effective ..
The government of a large United State city recently established a living wage law that starting January 1 of next year, will require all businesses operating within city limits to pay their workers a wage no lower than $8.50 per hour.
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