Consider the MPL is currently given by MPL=30/L. The supply of labor in the country is L=10. Consider that the current regulation requires a minimum real wage of 4. 1. What is the unemployment level ? What would be the unemployment level without the minimum wage? Is this a frictional or a structural unemployment?   2. Explain what frictional and structural unemployment are. Give some example and explain.

Q: ssible, it should tax: The good with unit elasticity of demand and unit elasticity of supply The goo...

A: Businesses eliminate deadweight loss in the long run by changing prices to attract customers. Firms ...

Q: Explain what the long run profit conditions are for a perfectly competitive market

A: Perfectly Competitive Market is the one where there are large number of buyers and sellers, selling ...

Q: . A perfectly competitive, profit maximizing firm earns zero economic profit in the long run. The fi...

A: The information given in question is:- The total cost curve is:- TC = a + bQ² Using only this cost c...

Q: GNP minus depreciation is NNP. national income. O retained earnings. GDP.

A: Gross National Product:- The worth of all commodities generated by a nation's population and enterpr...

Q: What effect will the imposition of a 37% tax on economic profit have on a monopoly’s price and outpu...

A:

Q: Suppose you observe the time series of output y and real money supply M/ P reported in the Figure be...

A: Given information

Q: The tables below show a nation's labor demand and labor supply schedules and its production function...

A: Equilibrium is a stable situation in an economy where the forces of demand and supply interact. The ...

Q: Give ideas/ways that the UN Member States look into to properly ameliorate the issue of women’s acce...

A: There are many measures that can be taken in order to provide protection for women on the ground of ...

Q: 1. If the price of 'X' rises by 10 percent and the quantity demanded falls by 10 percent, 'X' has

A: To find : Change in price of x

Q: If there are implicit costs of production

A: To find : What is implicit cost of production. 

Q: a. Draw a Lorenz curve for an economy comprising of unemployed (with zero income), workers and emplo...

A: Lorenz curve is a graphical representation of wealth distribution in a society. It represents how un...

Q: From the following data calculate GNP at factor cost by Income Method & Expenditure Method Rs. in Cr...

A: The gross national product at factor cost represents the market value of all goods and services prod...

Q: QUESTION 13 The view traces its roots to Marxist political and economic theory. A radical OB.free ma...

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...

Q: Let u(x1, x2) be a regular definite bend-down function (DKAB-RSQC). If μ(x1,x2) = ψ(u(x1,x2)) and dψ...

A:

Q: the welfare analysis of the takeover of a PC industry by a monopoly, the deadweight loss results fro...

A: A monopoly is a sole producer of a good in the market thus acting as a price maker whereas in a comp...

Q: The producer is in equilibrium at a point where the cost line is Above the isoquant

A: To find : When producer is in equilibrium at point 

Q: 10 9. 8. 4. 3. 1. 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that th...

A: Trade is defined as the exchange of commodities and services across the boundary of the country. Pro...

Q: 20. If there are implicit costs of production

A: Economic profit will be lower than accounting profit if there are implicit production costs. Total r...

Q: Which of the following countries is both a member of the EU put has not yet joined the Euro and Euro...

A: By unique monetary agreements with the EU, Andorra, Monaco, San Marino, and the Vatican City have em...

Q: 24. What is the GDP of country X? 25. What is the per capita GDP of Country X?

A: The term GDP means the aggregate total output produced by a country in the current year. This produc...

Q: 21. For goods, increase in income leads to increase in demand.

A: Products and resources that meet people's needs and desires are referred to as goods. A good might b...

Q: Answer cannot be determined To the right To the left

A: When the Fed purchases government securities, the quantity of money supply increases in the Economy....

Q: 10. Unemployment benefits usually last for 26 weeks; however, the federal government can vote to ext...

A: The economics as a study is based upon the basic idea of scarcity, and the resources which are prese...

Q: Section 11.4 U-Shaped Average Total Cost Curve exhibit 2 Hgh AFC H ATC Hgh MC MC ATC Mrmum Dmnheg ma...

A: Average Total Cost is the total cost per unit of output.  Average Fixed Cost is the fixed cost per u...

Q: What are the major determinants of price elasticity of demand? Use those determinants and your own r...

A: Elasticity of demand is a very important concept used by business firms to determine the level of pr...

Q: 26. When as a result of decrease in price of good, the total expenditure made on it decreases we say...

A: "Correct option is A."

Q: Firm A and firm B sell identical Soma to a market that has inverse demand p= 120 – Q where Q is tota...

A: Cournot equilibrium price and quantity quantity produced by firm A=q1 quantity produced by firm B=q2...

Q: discuss double taxation that is good for 2 minutes.

A:

Q: 5. Given the following utility function U(c1, c2) = [ac{ + (1 – a)c²]? where 0 < a, p < 1. a. Find U...

A: As the bartleby rules we are allowed to answer only the 1st three parts of any question when it has ...

Q: 8. Fill in the blanks: Suppose that a monopoly faces the following demand schedule. It costs the mon...

A: Price ($) Output TR ($) VC  ($) (3*output) FC ($) TC ($) VC+FC Profit ($) TR-TC 10 1 10 3 4 ...

Q: 28. Under which market structure, average revenue of a firm is equal to its marginal revenue A. O Ol...

A: "Correct option is C."

Q: questions to determine if Olivia is making the best decision. a) Who has the absolute advantage in d...

A:

Q: An increase the U.K. interest rate the demand for U.S. dollars and so the U.S. dollar O a. does not ...

A: Impact of higher interest rate:-  If interest rates are raised, investment would be discouraged beca...

Q: The equilibrium quantity of solar panels bought and sold in the market has stayed the same, but the ...

A: Eqm price and quantity in the market is determined by the intersection of dd(demand) and ss(supply).

Q: The WorldLight Company produces two light fixtures (products 1 and 2) that require both metal frame ...

A: When a linear function is subjected to many constraints, linear programming, a mathematical modeling...

Q: QUESTION 31 Country A imports $40 of shirts and exports $40 of under wears. Its balance of trade is ...

A: All answers for 31 32, 33 given below,  

Q: According to Mercantilists, a trade is a game Zero sum Infinite sum Positive sum Negative

A: To find : What is trade game of. 

Q: 3. Types of unemployment The three people described in the following table are categorized as unempl...

A: unemployment, the state of one who is equipped for working, effectively looking for work, however in...

Q: You pay a cover charge of $50 to get into a popular local nightclub. As the DJ is playing and you ar...

A: Opportunity cost is the cost that is incurred by giving up the next best alternative while making a ...

Q: Duke Energy's prices are subject to approval by a regulatory agency. If the regulatory agency sets a...

A: When a firm follows Average cost pricing, price is set equal to average cost. The firm is said to mi...

Q: There are many ways to define and measure the benefits and costs that go into the GPI. How do you th...

A: A biocentrist considers the whole influence of actions on living creatures, both human and nonhuman....

Q: 公。 云 * 00 T QUESTION 26 Consider the following table for Spain and France in which output for grapes...

A: Absolute advantage occurs when a country can produce more of a particular good with the same given r...

Q: If the quantity demanded of bananas decreases by 5% when the price increases by 10%, demand is Group...

A: Answer: Introduction: When the percentage change in quantity demanded is greater than the percentage...

Q: A general has the two possible pure strategies, sending all of his troops by land or sending all of ...

A: "Statement is FALSE."

Q: The price of a ton of coal is 70AUD in Queensland and the nominal exchange rate with the Indian Rupe...

A: The information given is:- Price of coal In Queensland = 70Aud Nominal exchange rate with Indian rup...

Q: .In economics, what a consumer is ready to pay minus what he actually pays, is termed as

A: To find : What is ready to pay minus actual pays. 

Q: Suppose that the supply of labor function is given by W = A + BL. What is the corresponding MFC func...

A: Labor supply function: W = A + BL Assuming labor is the only factor of production.  So, the total fa...

Q: How do we proper manage economy especially to adverse or international economic shocks?

A: Economy An economy is a complex system of interrelated production, consumption, and trade activities...

Q: 1. Give ideas/examples can the international community (United Nations) take in improving affordable...

A: Answer -  "Tahnk you for submitting the question but we are authorized to solve one question at a ti...

Q: QUESTION 13 The view traces its roots to Marxist political and economic theory. OB free market OC pr...

A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a t...