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Suppose Michael receives $50 per day as interest on an inheritance. His wage rate is $20 per hour, and he can work a maximum of 16 hours per day at his job. Draw his daily budget constraint.
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
Suppose which a state government currently provides no child care subsidies to working single parents but which it now wants to adopt.
Some politicians in countries which are the recipients of large numbers of immigrants advocate adopting laws requiring immigrants to learn the local language.
Japan has traditionally had an employment system characterized by a "lifetime" employment relationship among employer and employee.
Suppose the ABC Corporation adopts a policy prohibiting its top-level executives, whose compensation packages include awards of ABC stock each year.
Calculation of the total gap among men and women. Suppose men, on average obtain 12 years of education, while women have on average.
Now suppose which labour unions lobby Congress to allow the health insurance premium to be deducted from income taxes.
Short notes on Sunk cost, Economies of scope and Expansion path. Write notes on 3 of the subsequent: Sunk Costs; Economic costs; Expansion Path and Economies of Scope.
Draw a production set in two dimensions (single input and single output) which exhibits decreasing returns to scale, but is not convex.
Find the market clearing price and quantity. Illustrate what are the price elasticity of demand and supply at this price and quantity.
Do you think these companies would welcome congressional legislation which restricted the amount which any one company could spend.
Graphing demand function and calculating loss of consumer surplus. Suppose you are in charge of a toll bridge which is essentially cost free.
Explaining efficient allocation of resources in competitive market and unregulated competitive market. "Most commercial fish species in nearly every ocean and sea are being rapidly depleted.
Discuss the subsequent excerpt from a recent story in the Wall Street Journal (May 4, p.1). In your discussion demonstrate which you can use the concepts.
Proving which the consumer maximizes utility when MRSxy =PX/ PY. True, false or uncertain "For any two goods X and Y, the consumer maximizes utility when MRSxy =PX/ PY. You must see relevant diagram
Illustrate what do you predict will happen to the structure of competition and to the price in this market when the patent expires.
Why is it not surprising to find which in an oligopoly which sells a basically undifferentiated product like chicken growth hormone all the companies change prices simultaneously, even if there is n
Classifying the utility functions as risk loving, risk neutral or risk averse. Shaqueena's utility function is given by U= I1/2, where I represents annual income in thousands of dollars.
Discussion on income and substitution effect. For all goods the substitution and income effect is the same. Discuss with the aid of suitable diagrams.
Suppose a production function is given by F (K, L) = K1/2 L1/2 the price of capital is $10 and the price of labour is $15. Find the equation of the expansion path. Find K* and L* for 1000 units of o
Derivation of AVC and MC function. A company's total cost function is given.
Find production functions exhibit decreasing, increasing and constant returns to scale. Do the subsequent production functions exhibit decreasing, decreasing or constant returns to scale.
Obtain the company's supply function and equilibrium price and output. There are 10 identical companies which have the common cost function c(y) = y2 + 9 the company demand function is given by X (P