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What insights does this exercise provide about why firms are more likely to interview and hire applicants with white-sounding names?
How will the new tip rate affect the daily income (wages plus tips) of the typical waiter?
Explain the roles of the output effect and substitution effect on the change in the quantity of labor demanded.
How would you expect this law to affect the average quality of teachers and the taxes paid by the typical household?
Payroll Tax. You are an economic consultant to a city that just imposed. Use a graph to show the effect of the tax on the equilibrium wage and employment.
Suppose that farm workers are responsible for onefourth of production. What are the implications of immigration for the cost of producing food and its price?
Suppose the initial fare per mile is $0.60 and the initial miles per day is 100. Compute the percentage change in daily income.
Draw two supply curves for carpenters: one for the market in the city of Portland and one for the market in the UnitedStates.
If Sabrina continues to work 40 hours per week, how does the change in the pay plan affect her total income?
As a result, the publisher increases the monthly price of a subscription by 20 percent. How will the new law affect the monthly income of the typical news kid?
One year later, none of the permits had been bought or sold. What could explain the absence of permit exchanges?
What is the best combination of reforestation offsets and abatement? How much money does your firm save by using the offsets?
What is the savings in abatement cost from allowing firms to buy and sell a permit?
Consider a command-and-control policy that generates the same volume of pollution. Use a graph to show the effects of the command-and-control policy.
Suppose initially the price of songs is $0. How many songs will Janis play? Illustrate with a graph. Compute the loss in consumer surplus from the tax.
Suppose the price elasticity of the supply of heating oil is 1.0 and the price elasticity of demand. What fraction of the tax is passed forward to consumers?
Draw the marginal-benefit and marginal-cost curves and show the optimum level of pollution abatement.
What is the threshold number of insurance companies the number at which each insurance company will be indifferent about providing free LoJack systems?
Propose a solution to this problem. Describe a transaction that would benefit the fishers and the landowner.
Will any single citizen provide the display on his or her own? Describe a transaction that would benefit all three citizens.
Will a confused student ask a question when it would be socially efficient to do so? Design an incentive system to generate efficient questioning.
Visit the Web site of Defenders of Wildlife. Then design a system that will generate the socially efficient outcome.
Suppose the town asks for voluntary contributions to support the network. Would you expect the total contributions to cover the $20,000 cost?
In return, the new gates would be designated for the exclusive use of Gotcha. What trade-offs are associated with accepting Gotcha s offer?
Your city is considering an airport-expansion project that would increase. How does the benefit to consumers compare to the cost of the project?