Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Macroeconomics Expert

Problem 1:

A monophony can appoint one worker at the wage of $5, two workers at the wage of $6 each, three workers at a $7 each, and so on (each added worker adding 1dollar to the wage rate). If the marginal revenue product for all workers is $16, what wage will it pay (i.e., the same as determining how many workers will firm hire)?  Hint: Compute the MEL and compare it to MRPL.

Problem 2:

Assume, the government needs lifeguards to buy $1 of health insurance per hour worked. What takes place to employment and wages of lifeguards? Describe and demonstrate graphically.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M910618

Have any Question? 


Related Questions in Macroeconomics

Innbspa at least two page long report showing your thinking

In a at least two page long report showing your thinking (not quotes)  discuss one major idea from the Macroeconomics  as reviewed in the textbook, class lectures or discussion  that answers this question :   how does th ...

To master this project there are a few steps to takein your

To master this project, there are a few steps to take: In your paragraph about inflation: Please discuss how inflation helps the borrower and harms the lender. Also, please correct the following sentence: "The two types ...

Suppose that central high school has preferences that can

Suppose that Central High School has preferences that can be represented by the utilityfunctionU(C,X) =CX2. Let us try to determine how the various plans described inthe previous problem will affect the amount that C.H.S ...

1 what does the assumption of2 what does the assumption of

1) What does the assumption of 2) What does the assumption of constant velocity imply?

Why did the bretton woods system of fixed exchange rates

Why did the Bretton Woods system of fixed exchange rates collapse? (Explain in 200 words minimum)

Suppose the government raises its revenue by a net tax of

Suppose the government raises its revenue by a net tax of 25% on income, t = 0.25, the marginal propensity to consume out of disposable income is 0.8, and the government has an outstanding public debt of 1,500. The auton ...

Read the article and in 450-700 words address these

Read the article, and in 450-700 words address these prompts: • Summarize the view of American critics of global firms that import products purchased from developing country factories that have bad working conditions and ...

Complete parts a and b completelypart a suppose nominal gdp

Complete Parts A and B completely (Part A) Suppose nominal GDP in 2012 was $200 billion, and in 2014, it was $210 billion. The general price index in 2012 was 100 and in 2014 it was 105. Between 2012 and 2014, the real G ...

The moroccan monetary authority is using a heavily managed

The Moroccan monetary authority is using a heavily managed float to keep the dirham at $0.12 per dirham. Under current foreign exchange market conditions, nonofficial supply and demand would clear at $0.15 per dirham. Us ...

Macro simulation project purpose to gain an understanding

Macro Simulation Project Purpose: to gain an understanding of how the economy described by the AS/AD model responds to various shocks under various assumed parameter values. General Instructions - Your answers must be ex ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro