Calculate the equilibrium wage rate and quantity of unskilled labour employed. Draw a diagram to illustrate the answer. And then label and calculate the consumer/firm surplus, the producer/worker surplus and the total surplus. Note – the minimum wage rate is $18.93. Please see the attached document for the full questions.
Game theory : Three city politicians vote on whether to allow themselves a salary increase of $2,500 per year. Voters would dislike it if the politicians vote for a salary increase, and a politician who votes for one would face public scorn. Assume that public scorn costs a politician $1,000 per year. Suppose that the politicians vote at the same time, and cannot observe each […]
How much must a person put into the bank today if he wants $50,000 in 5 years at 6% compounded 1.) annually and 2.) semi-annually. a. 1.) $37,365; and, 2.) $37,205 b. 1.) $38,365; and, 2.) $38,205 c. 1.) $39,365; and, 2.) $38,205 d. 1.) $38,365; and, 2.) $38,205 e. None of the above
Predict whether the years following the next presidential election will bring us inflation, deflation, or relatively stable prices. Provide support for your response.Analyze how inflation could occur in a society that relies exclusively on barter versus money. Speculate what form inflation would take and how you would recognize it. Provide support for your response. Predict whether the years following the next presidential election will bring […]
Please solve these questions
Question:Question:Question:Question:The Automotive Industry is currently experiencing many technological changes (see readings ). Outline which changes you consider to be particularly significant and discuss how those changes might impact upon the industry in the future. file:///C:/Users/MyPC/Downloads/BCG-Making-Autonomous-Vehicles-a-Reality_2017%20(2).pdf file:///C:/Users/MyPC/Downloads/BCG-The-Reimagined-Car_2017%20(1).pdf file:///C:/Users/MyPC/Downloads/McKinsey_Auto%202030%20report%20Jan%202016.pdf file:///C:/Users/MyPC/Downloads/McKinsey_Automotive%20industry_The_road_to_2020_and_beyond%20(1).pdf file:///C:/Users/MyPC/Downloads/PWC_2017-Automotive-Industry-Trends.pdf file:///C:/Users/MyPC/Downloads/PWC_global-automotive-executive-survey-2017.pdf file:///C:/Users/MyPC/Downloads/PWC-five-trends-transforming-the-automotive-industry.pdf Please give a longer answer than as usual. Discussing each trend and the impact of these changes. Thank you. Also please copy the url […]
Please answer all questions and provide explanation For this question you will continue to use the above model, reproduced here :"- = 5 + 0.01 – 10171 ,`Money demand[^ = 30 + 0. 518 – 71 – 2010 *^Desired consumption*$` = 401 – 20101 * *Desired investmentN` = 31 – 0.18 – 5 0Desired net exportsYou can assume that I" = 150 is the long […]
1.a. Distinguish between microeconomics and macroeconomics. (2 marks)b. Label each of the following news headlines as a microeconomic or macroeconomic topic. (8 marks)(i) Edmonton woman wins over $21 million in lottery(ii) Oil closes above $120 a barrel for the first time(iii) Bank of Canada raises interest rates(iv) Dropout problem at high school2.On a graph of the circular flow, label the flows in which the following […]
3. Consider a race between 2 candidates. Whoever spends the most money in theircampaign wins the election and gets a utility v >= 3 (v more than equal to 3). They also value campaignfunding in terms of dollars spent. Therefore, after spending ci on a campaign, ifcandidate i is elected, her utility is v-ci, and otherwise, it is simply be -ci. Ties arebroken by a […]
suppose that the firm’s only variable inpuyt is labor. When 50 workers are used, the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500. What is the average total cost?
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