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Q1. On proportional basis, there are numerous Negroes and too few Jews among the professional athletes. This exhibits that sports has lastly overcome racial prejudice, it has not overcome religious prejudice. Comment on it.

Q2. You are the absolute czar and head of union of 1,000 plumbers in the Austin, Texas. You contain the absolute power to set the wage at which the plumbers will work. The economist that you have hired tells you that the demand for plumbers in Austin is Q = 1,200 - 100W, here Q is the number of plumbers employed and W is their wage per hour. This demand function can as well be written W = 12 - Q/100. If there are no other plumbers in the Austin, what wage would you set if:

a) You wished to accomplish full employment at the highest possible wage.

b) You wished to maximize the total payments to plumbers?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M910150

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