Assume the marginal revenue product mrp for minority, Ask an Expert

Economics

Assume the marginal revenue product ( MRP ) for minority workers is given by

MRP = 40 − 5N m , where N m is the number of minority workers. The market wage for minorities is $5/hr. Discriminating firms devalue the contributions of minorities at a rate of $5/hr (i.e., d = 5).

(a) How many minority workers do non-discriminating firms hire? What is their profit level?

(b) How many minority workers do discriminating firms hire? What is their profit level?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91677787

Have any Question?Write your Review or question?

Related Questions in Business Economics

On average the parts from a supplier have a mean of 358

On average, the parts from a supplier have a mean of 35.8 inches and a standard deviation of 2.4 inches. Find the probability that a randomly selected part from this supplier will have a value between 31.0 and 40.6 inche ...

You are the manager of a firm that produces and markets a

You are the manager of a firm that produces and markets a generic type of soft drink in a competitive market. In addition to the large number of generic products in your market, you also compete against major brands such ...

John plans to take three suits on his business trip if john

John plans to take three suits on his business trip. If John owns 8 suits, how many ways can the 3 suits be selected?

With its current leverage cow copr will have a net income

With its current leverage, COW COPR will have a net income next year of $7 million. If COW CORP corporate tax rate is 30% and it pays 7% interest on its debt, how much debt can COW CORP issue this year and still receive ...

Why are ideas of modernization cohn 107 and progress so

Why are ideas of "modernization" (cohn, 107) and "progress" so important to the post-World War II

A is the event that your friend is sick today and b is the

A is the event that your friend is sick today and B is the event that you pass this test. These events are independent and Not mutually exclusive. Calculate the probability that your friend is sick todayy OR you pass thi ...

Question 1 the toronto blue jays raises ticket prices from

Question 1: The Toronto Blue Jays raises ticket prices from $100 to $120 per seat and experience a decline in ticket sales from 12000 to 10000 per game. i) What is the elasticity of demand for tickets? ii) Assuming the m ...

A lottery game has balls numbered 1 through 19 what is the

A lottery game has balls numbered 1 through 19. What is the probability of selecting an even numbered ball or a 9

The following is data a veterinarian collected from some of

The following is data a veterinarian collected from some of her clients. it is a rough estimate % of dogs weight and how long the dog lived estimate of dog's weight(xi) life span(yi) 20 ...

What is the relationship among high school rank act scores

What is the relationship among high school rank, ACT scores, time spent studying, a positive attitude toward school, and a successful collegiate experiences?

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

Recent Questions

Ask Business Economics Expert