101hwk6 - How/why have the supply and demand curves in this...

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Name:_________________________ ECO 101 830 Principles of Microeconomics Homework #6, due Friday 4/27 1. In each case below, give TWO ways in which oligopoly is different from a) perfect competition? b) monopolistic competition? c) monopoly? 2. Explain why resource demand is a derived demand.
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3. Consider the case discussion on the U.S. nursing shortage on pages 283-85. [Question #1, chapter 10] Analyze the U.S. nursing shortage in terms of supply and demand.
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Unformatted text preview: How/why have the supply and demand curves in this market shifted? 4. Many of the skills required for life-guarding are also required for guiding whitewater rafting trips. Word gets around among students who usually do lifeguard work that whitewater guides earn $5 more per hour than lifeguards. Explain and show on the graph below what happens to the market for lifeguards given this wage differential. wage of lifeguards...
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101hwk6 - How/why have the supply and demand curves in this...

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