What would you recommend (strategy/course of action to assist workers who would lose their jobs owing to the minimum wage increase) as a result of your findings?

Q: d) Is there any possibility that a government can increase the inflation rate without any change in ...

A: The Philips curve helps to show the relationship between inflation and unemployment. ? = ?π − 0.6 ...

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A: Answer: An increase in the interest rate will lead to a decrease in the quantity demanded of loanabl...

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A: Monopolistically competitive industry is an industry where there are many buyers and sellers in the ...

Q: 10.5 (LG 10.4) The following data are available for two mutually exclusive projects: Project A Proje...

A: [a]Benefit/ cost ratio:-Benefit = Project A = 17,000,000  Project B = 17,000,000Cost = Project A = 5...

Q: (10) Two firms compete by choosing price. Their demand functions are Q1 = 20 – P, + P, and Q2 = 20 +...

A: Demand functions are: Q1=20-P1+P2Q2=20-P1+P2

Q: (9) Suppose the market for tennis shoes has one dominant firm and five fringe firms. The market dema...

A: a.Fringe firms marginal cost is:P=MC=20+5qP=20+5q5q=P-20q=P-205Now,There are five Fringe firms:q=P-2...

Q: (5) For each situation, solve for the Bertrand-Nash Equilibrium (differentiated Product). 5a) Suppos...

A: To calculate Bertrand - Nash equilibrium when there are different marginal costs:-   150+5(210+5Pj20...

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A: When there is any disaster happened then it will lead to affect the supply first, due to less supply...

Q: The Balassa-Samuelson critique of purchasing-power parity focuses on (a) the inclusion in national p...

A: The Balassa- Samuelson critique of purchasing power parity focuses on the difference in productiviti...

Q: Merrilyn Forney is considering starting a delivery service company. She presently makes PHP 800,000 ...

A: The economic cost is the sum of explicit cost and implicit cost (opportunity cost) while the account...

Q: What does Adam Smith use “pins” to illustrate? Why is this important?

A: Classical school of thought believed in the automatic correction of the market, any disequilibrium i...

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A: A consumer is an individual or group who wants to order, orders, or utilizes acquired things, produc...

Q: uppose that a firm is producing in the short run with output given by: = 58L-L2 he firm hires labor ...

A: Optimal Labor is determined in light of similar standards as anticipated labor aside from it is dete...

Q: The demand function for SkanDisc 2GB thumb drives is given by p- 4(x + 3) ea where p is the wholesal...

A: We have  p=4x+3e-x/3         .... (1)   Where p is the price in dollars, x is the quantity demanded ...

Q: Average total cost is equal to:

A: Total cost is the sum of total variable cost and total fixed cost i.e., TC = TVC + TFC Total cost me...

Q: If a $20 increase in disposable income causes consumer spending to rise by $4, what is the multiplie...

A: The economics a study is based upon the idea that the resources which are present with the economies...

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Q: Who favors John Maynard Keynes theories currently and how are they applied? Could you also include t...

A: John Maynard Keynes was an English economist whose ideas revolutionized macroeconomic theory and pra...

Q: Please derive mathematically the condition for consumer equilibrium then give a short intuitive on w...

A: The phrase "consumer equilibrium" refers to a state in which a consumer gets maximum satisfaction wh...

Q: Do you think that economists should place a dollar value on “goods” and “bads” when computing GDP?

A: In an economy, GDP is used as the measurement of national income using different methods as they all...

Q: Do minimum wages increase the unemployment rate of less-skilled workers?

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor employe...

Q: Is Canada in a recessionary gap or inflationary gap right now? and how could you tell?

A: GDP and price level are determined when aggregate demand and aggregate supply intersect each other. ...

Q: Q1. a List down different type of interests and their related formulae. b. Collect one example for e...

A: Q1. a. Type of interests Simple interest: P x R x T100Compound interest: A=P(1 + rn)n Accrued Intere...

Q: Who did Milton Friedman advise with his economic theory?

A: Milton Friedman was an American economist and statistician who believed strongly in free market capi...

Q: If the price of catfish changed from $13 to $14 per bushel, determine the Assessment Tool iFrame Ins...

A: When price increases from $13 to $14:- Number of bushels Price  Total Revenue Total Cost Total Pr...

Q: QUESTION 3 A dealer decides to sell an antique automobile by means of an English auction with a rese...

A: 3) The expected revenue is as follows, given that they do not collude and are bid rationally,  P(ER)...

Q: What are “Adam Smith’s laws of the market” What does Adam Smith think is behind the economy/market? ...

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...

Q: Explain the impact of Minimum wage laws on the labor supply, and provide statistical data for the sa...

A: Statics is a discipline of mathematics concerned with the collection, interpretation, and validation...

Q: What is the importance of mircro economics in pur day to day life?

A:

Q: Suppose the economy currently has an inflation rate of 7%. Moreover, the slope of the economy's Phil...

A: For a classical model of Phillips Curve we assume that the production function in economy is only a ...

Q: yeal, and fill in the table. (Round your answers to two decimal places.) Year Nominal GDP Price inde...

A:

Q: You put 280,000 dollars in a bank which gives you 0.75% simple interest. If you leave that amount in...

A: A bank is an institution that provides the facility of loans and the facility of cash to the custome...

Q: Q1. What is the significance of Balance of Payments and what are its components?

A: Balance of Payments can be defined as the accounting statement which provides the itemwise receipts ...

Q: It is not unusual for a country like ours, Philippines, to be hit by disasters like hurricanes. When...

A: Rational expectation hypothesis says that people make decisions by taking all the past experience an...

Q: Suppose Van would like to use $9,000 of his savings to make a financial investment. One way of makin...

A: Answer: Suppose RoboTroid , a robotics firm , is selling bonds to raise money for a new lab, a pract...

Q: Total Cost AVC AFC ATC MC -- -- 1 25 40 65 a5 20 16 20 216 25 29 3 15 20 25 4 105 145 4 (15) For any...

A: Since you asked for only drawing the diagram, we are doing that only.

Q: Suppose there are 2,000 potential consumers in the Chestnut Hill market for tablet computers. All co...

A:

Q: QUESTION 8 Suppose that the production function y-f(x_1,x_2) (where: y is output level, x_1 is a var...

A: Question8: Answer: (d) y to increase with x_1 at a increasing rate, due to increasing returns to sca...

Q: In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over $5,000...

A: A tax is a necessary fee or a type of monetary charge that is imposed by a government on a person or...

Q: Changes in price levels induce shifts in the aggregate expenditure function. Which of these is not a...

A: The answer is - Substitution effect

Q: A man purchased a share or Stock for P135.OO six years ago and has received a dividend of P6.00 at t...

A: The rate of return is the return. an investors receive on his or her capital duriñg a period of time...

Q: How do you calculate private closed economy GDP?

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in ...

Q: Mt. Dew B. Popcern Suppose a consumer has $100 in income, the price of Mt. Dew is $2, and the value ...

A: here we find the price of the popcorn as follow;

Q: Assume the Fed is trying to decide whether to lower the required reserve ratio to 8%. Currently, the...

A: Target Required reserve ratio = 8% Current required reserve ratio = 10%  Deposit = $500  

Q: Which if the following is NOT an example of the market drivers of globalisation? A. Establishment of...

A: Globalization is the movement of products, technology, information, and jobs across national borders...

Q: True or False? In the presence of a positive externality, a Pigouvian subsidy results in less consu...

A: Positive externality refers to the situation when the action of an individual contributes positively...

Q: B/ Consider the Open Economy with Government Participation (i.e. the Mixed Economy): Planned Expendi...

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, I will be ...

Q: Nowadays, we can choose elth a laptop computer or a portabl electronic device. Recently, the consume...

A: It refers to those types of goods that can be used in place of one another. These goods have an inve...

Q: Suppose that a small town has seven burger shops whose respective shares of the local hamburger mark...

A: while calculating concentration ratio we consider the firms who have larger market percentage share ...

Q: Using Okun's law, fill in the four pieces of missing data in the table below. All of the following d...

A: Given: 2015: Real GDP=7840 Potential GDP=8000