Describe how a change in the minimum wage affects
Using marginal productivity theory, describe how a change in the minimum wage affects the employment of unskilled workers. Minimum wage legislation needs the most firms to pay workers no less than the legislated minimum wage per hor.
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Find out the market structure that best matches the competitive qualities found in the market where these products are made and sold. Describe your answer.
A certain kind of light bulb has average lifetime of 10000 hours. The sd of the bulb lifetimes is 480 hours. What percentage of bulbs could last more than 12,784 hours?
Government A decides it wants to abolish the poverty and unemployment by immediately issuing the 50,000 dollars/yr to all unemployed citizens.
What conclusion can you reach about the pattern of the residuals over time? No linear relationship exists. An increasing linear relationship exists.
Give a verbal interpretation of this elasticity. Is the elasticity considered "elastic" or "inelastic"? Use the calculus formula to calculate the point elasticity at the price of $4.00.
By lowering and raising the short-term interest rates to keep inflation moving at a steady pace, many central bankers and academics thought they had finally found a monetary policy solution to conquer booms and busts of the business cycle.
Discuss how much of its sales might it lose? Why? Can a competitive firm ever raise its prices if a perfectly competitive firm raises its price above the prevailing market rate?
Determine the probability that second one chosen is defective given that first one was defective? Round your answer to five decimal places (e.g. 98.76543).
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