Which of the following examples would most likely involve a person earning minimum wage?
a. Fifty-year-old Koki works as marketing specialist for 20 years.
b. Twenty-year-old Catherine works as an office assistant for a large corporation.
c. Fifteen-year-old Sean works as a caddy while his parents earn $100,000 a year.
d. Thirty-year-old Tamar works in a factory while her husband teaches high school.
c. Fifteen-year-old Sean works as a caddy while his parents earn $100,000 a year.
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Now suppose that the firm is contemplating the use of a new abatement (AN) technology, which would generate the following cost functions: TACN = 1000 + 0.125(AN)2 MACN = 0.25(AN) Find the cost savings to the firm of using this new technology when faced with the emission charge.
Consider the following abatement cost functions (TACO andMACO) for a firm using an old abatement (AO) technology: TACO = 1000 + 0.25(AO)2 MACO = 0.5(AO), where A isunits of abatement undertaken by the firm, and the cost values are in thousands of dollars. Further assume that the regulatory authority has set an abatement standard (AST) equal to 40 units for each firm and has proposed an emission charge implemented as a constant per unit tax (t) of $10 (i.e., MT = 10), where Total Tax = t(AST – Ai), and Ai is the existing abatement level.
Refer to the above figures. If a positive externality that existed becomes corrected, price and quantity will become
A) P1 and Q1. B) P2 and Q2. C) P3 and Q3. D) P4 and Q4.
Economic rent is a term economists use to refer to the price paid for land ______.
a. planned for commercial development b. or any other factor with a fixed supply c. in agricultural and recreational regions d. or any other factor with a fixed demand
A decrease in the price level
A) shifts the AD curve to the right.
B) shifts the AD curve to the left.
C) causes an upward movement along the existing AD curve.
D) causes a downward movement along the existing AD curve.
E) none of the above