Suppose the demand for skilled military personnel is given by the curve L=240 – 5w, where L is the labor demanded per day in thousands and w is the wage rate. Suppose the supply curve for skilled military personnel is given by L= 5w. What is the equilibrium wage rate and equilibrium employment for skilled military personnel? The equilibrium wage rate is $ per hour. (Round your response to two decimal places.)

Q: A man who retired becomes bored with retirement and begins to look for a job. During the time he is ...

A: Answer: Let us consider that the man who is retired now was working in a sector where retirement hap...

Q: q=-2p+200 find the demand equation express the total revenue R as a function of the price p per item...

A: Total revenue is calculated by multiplying price with quantity. Total revenue reaches its maximum po...

Q: Expectations about price changes will affect:A) the demand curve only. B) both the demand and supply...

A: The expectation in economics states that the forecast of the decision-makers about prices, income, t...

Q: Explain whether each of the following statements describes a change in demand or a  change in quanti...

A: The demand curve is where the market's many price/quantity combinations come together. The price-qua...

Q: Calculate the future equivalent at the end of 2012 at 8% per year, of the following series of cash f...

A: Futures Equivalent: The number of futures contracts required to match the risk profile of an option...

Q: Bank 1 and Bank 2 are considering entering a compatibility agreement that would permit the users of ...

A: From the given data as followed by Now we have to consider that the data as We know that A memorandu...

Q: Suppose an economist develops an international trade model based on the assumption that there are on...

A: The Economist mostly considered only two countries and two goods for the better understanding of the...

Q: In 3–5 sentences, explain 2 causes and 2 effects of the stock market crash of 1929

A: Stock prices plummeted 40% in late October 1929 when the market collapsed. The 1929 stock market cra...

Q: Amy is facing the following decision problem with monetary outcomes, expressed in terms of changes i...

A: Given,  Amy's decision problem with monetary outcome There are two acts : a and b There are two sta...

Q: Two firms compete by choosing price. Their demand functions are Q, = 200 - P, + P2 and Q2 = 200 + P,...

A: Both firm wants to maximize profit given the other firm's choice of price. Here, the marginal cost i...

Q: Suppose the Indian government as part of its trade policy decides to remove tariffs or quotas. In an...

A: India's Foreign trade policy aims to increase the country's share of global trade from the current p...

Q: 6. You have a balance of $1,500 on the credit card described in q5. You make the minimum payment req...

A: Annual rate % (Nominal interest rate) : 10.95% Compounding : Monthly (12/Yr)   => The Effective a...

Q: (a' quantity y to market price P. Find the aggregate demand function for coconut oil, linking aggreg...

A: Since we only answer maximum 3 subparts, a-c will be answered here. Please reupload the question men...

Q: A supply and demand puzzle e following graph shows the market for laptops in 2010. Between 2010 and ...

A: The demand curve is a graphical representation of the negative relationship between the price and th...

Q: student plans to deposit P1, 500 in a bank now and another P3, 000 for the next two years. If he pla...

A: Amount after n years is written as : A = P(1+r)n Here, A = amount after n years, P = Value deposited...

Q: For each of the following statements, illustrate the effect of each event on the  market for red sna...

A: The equilibrium price is the only price at which the plans of consumers and producers coincide—that ...

Q: The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between $30,000 an...

A: In this question, we need to calculate the probability of a sample of taxpayers from the income grou...

Q: We have been asked to analyze our toy products by price (from $10.00 to $13.00 by 0.25) and quantity...

A: Given, Fixed Cost = $94,550 Material cost per toy = $4.77 Labor cost per toy = $3.17 The profit = $1...

Q: A retired couple has a fixed income of $3,500 per month. Assuming an annual inflation rate of 7% (co...

A: Given that, A = $3,500 r = 7% or 0.07 t = 5 years  And interest rate compounded annually  That means...

Q: Imagine that you are a financial manager for a medium-sized company. Describe how you would use capi...

A: We show that There àre various ways to use a budget that helps investment decisions. These stràtegie...

Q: Provide example on how individuals may get finding from the capital markets?

A: Capital market is the market where long term funds are raised by individuals , firms , companies . I...

Q: Differentiate exploratory research and specific research in your own words

A: Economists gave their findings and theories based on a research that they make using specfiic inform...

Q: individuals may get funding from the capital markets.

A: Capital markets are defined as the market where the trading of shares, debentures, long-term securit...

Q: n what way is applied economics important in tackling economic issues of the country?Philippines

A: In Philippines the applied economies has been determined in the likely outcomes and it is possible i...

Q: A certain bank advertises that they pay 8% compounded quarterly. What is the effective interest rate...

A: Given:- Compounded quarterly=8% or 0.08 Deposit=P5000 Time=3 years To calculate:- Effective interest...

Q: If a country can produce more of a good than other countries with a given amount of resources, we sa...

A: Absolute and comparative advantage are too very important concepts of International trade as they in...

Q: A coupon bond with a face value of $1200 that pays an annual coupon of $200 has a coupon rate equal ...

A: A coupon is the interest payment received by a bondholder from the date of issuance to the maturity ...

Q: ona

A: AD - AS model is equilibrium where AD curve and AS curve intersects and defines P price level and Y ...

Q: ove lyer 3. chooses a number r; in the range 1 < r; < 2. The payoff functions are

A: In Game Theory a strategy is called dominant strategy for a player if it result in the best payoff (...

Q: Q)d) Explain different types of inflation, what is the economic cost of unemployment? Explain

A: The economics as a study is based upon the idea that the resources which are present in the economie...

Q: TRUE OR FALSE? The new growth theory emphasized the role of human capital development. The two majo...

A: When talking about new growth theory, it explains the role of various economic variables that contri...

Q: A Consumier s utility is given With marginal utiities being M 0X Prices are Px = 4 and Py = 8. Consu...

A: The utility function is quasi-linear. Given the prices we solve the following, MUXMUY=12X=PXPY=48⇒14...

Q: Table 1: The following table contains some production possibilities for an economy for a given year ...

A: The answer is - Option 4: 4000 &lt; x &lt; 4600

Q: Small differences in growth rates in the size of the economy, over several decades, will result in b...

A: GDP means total value of goods and services produced in national boundaries in a year . And real GDP...

Q: Answer in not less than 100 words. How do economic forces to facilitate the deepening of globalizati...

A: Globalization is defined as the process of interaction among governments, companies, and people all ...

Q: A Movie theatre charges $20 for a ticket, with an average daily demand of 600 tickets. The theatre i...

A: Elasticity of demand measures the responsiveness of quantity demanded to changes in the price level.

Q: The amount $101 is available to be paid out to two players. The players must make simultaneous claim...

A: Given,  Two Players : Player 1 and Player 2 The Amount to be paid to the two players : $101 The clai...

Q: cal bakeries with cost function C(x)= 4x operate in a village where the demand for bread is x(p) = 1...

A: Cartel firm tends to behave like a monopoly firm. Since here both firms have a similar cost structur...

Q: A woman arranges to repay a P10,000 bank loan in 10 equal payments at a 10% effective annual interes...

A:

Q: Assume you can work as many hours you wish at £12 per hour (net of tax). If you do not work, you hav...

A: Here there is a situation where we can work as many hours as we can want at the rate of £12 per hour...

Q: 2.  Airtight Manufacturing produces plastic cases that utility companies buy to protect electronic c...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: answer please, additional information has been given.     Assume you can work as many hours you w...

A: Answer a).  

Q: Explain whether each of the following statements describes a change in demand or a change in quantit...

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...

Q: Hi, I need help with part C. Thank you.

A: The worker maximizes by taking 16 hours of leisure and 96 pounds worth of consumption. If instead he...

Q: The current equilibrium price and quantity in the chocolate market are $5 and 256,000 units, respect...

A: given equilibrium price = 5 $ tax = 0.50 $ after tax price = 5.25 $ price seller receives = 4.75 $

Q: QUESTION 29 Figure 6-13 16 12 9 8 Demand 40 80 105 120 160 QUANTITY Refer to Figure 6-13. Acme, Inc....

A: The equilibrium price is the point at which the supply of goods equals the demand for them. The term...

Q: The poem Construction (2008) by Aoife Mannix is effective in painting a clear picture of the negativ...

A: Globalization: Globalization is a term used to portray how exchange and innovation have made the wor...

Q: What are the direct and indirect economic impacts related to air transportation and how do they diff...

A: We know that, The Air transport hàs become one of the world's most important industries. As a màjor ...

Q: 4. Show on a diagram how an individual may seek to smooth their consumption over their lifetime. How...

A: The Life-Cycle Hypothesis is defined as a theory which states that consumers tend to smooth their co...

Q: Why do we say that the "Rip-off," "False Economy," and "Overcharging" strategies are not market-orie...

A: Market-oriented pricing, often referred as a competition-based strategy, compares products on the ma...