Price Floor and Price Ceiling of Minimum wage
Price Floor ( a minimum wage )
Creates a surplus if above equilibrium
1) Greatest Qs at the higher price
2) Lower Qd at the higher price
The minimum wage of the price floor. In the labor market, the workers su
Economics 111, Fall 2015
Due Date: On Blackboard by Friday, November 6, 2015, 10:30 p.m.
1. Marginal Revenue Product of Labor: Chapter 10, p. 230, Problem #4. [Hint: use $2 as the
PX used in the sandwich example discussed in class
a. The opportunity cost is the alternative goods or services she could have purchased instead
of a new outfit. For example, Annie could have purchased a new iPhone instead of a new
outfit. The value of the iPhone is an example of t
The SWOT Analysis of ZARA
Zara stores are located in 77 countries and are lot of opportunities to invest and
expanding the market as in India and China. Especially China, it is one of most
populous counties of the world. With the economic development and
Zara is a very popular and powerful brand in the market. It also an influential in overseas
markets as America, Asia, and Europe.
1. Cost leadership strategy
2. Global outreach
3. Strategic locations
4. Fast-changing collections
Yepeng Wu and Xiaoyu Pan
Historical Hero/Villain Repartee
Prof. Sissi Liu
Characters/ Historical figures: Emperor Meiji (HERO) vs Empress Dowager Cixi (VILLAIN)
Central Issue: After the second industry revolution, the world is becoming more connected. The
Homework should not be abolished
According to reporter Healther Holland, a few months ago, P.S. 116, a public elementary
school abolished traditional homework. The teachers at that school stopped assignin
Today my topic is anime and most anime are from Japan. So, let us focus on Japan anime. Anime
is seen as part of the Japanese culture. There are many Japanese anime that are famous in the
world, such as Dragon Ball, Naruto, and One Piece.
Anime is n
(1 x 5) + (2 x 2)
(1 x 10) + (2 x 1)
(1 x 14) + (5 x 2)
(1 x 18) + (2 x 6)
(1 x 20) + (2 x 8)
Economics 111, Fall 2015
Professor Simone Wegge
Due Date: On Blackboard by Friday, November 13, 2015, 10:30 p.m.
1. Suppose a monopolist produces according to the following demand curve: P = 200 - 4 Q.
Assume that the firm faces a constant mar
Why a company would lower the price of a product if it is unitary elastic
Unitary elasticity occurs when the quantity of a product demanded changes in response to price changes
in a way that leaves total revenue the same. With unitary elasticity, the perc
Explain the advantages and disadvantages of price wars. Provide two examples of companies
engaged in a price war.
A price war is a period in which several firms competing within the same market will react to the
other firms lowering of price by lowering t
The government of the United States of America spends huge amounts of money. The highest
Percentage of this money goes towards Social Security. The next biggest program is national
defense. Other real focuses of government spending are
Producing Human Airbag, we are going to borrow money from the bank for a start, about
50,000$. We will make 200 airbags in color white, we will sell it for 300$ because that way we
the company will win 10,000 which I believe its a good investment for star
0 I out of] points
@352 A monopoly arises when there:
Selected Answer: are barriers to the entry of other rms in the industry.
Answers: is a rm desiring to compete in many markets.
is a rm wanting to maximize prots.
November 18, 2016
United States Presidential Tax Proposals
Every presidential election, each candidate who is up for election has their own
tax plan for the United States if they get brought into office. Every four years
The Samsung business was founded in Taegu, Korea on
March 1st, 1938
The chairman's name is Byung-Chull Lee and started the
business with 30,000 won which equals 25 USD
Main focus of the company at first was trade export,
selling dried Korean fish, vege
Look at the following industries. Which of them would you classify as monopolistically
competitive and which as an oligopoly?
a. Ice cream monopolistically competitive
b. Restaurants monopolistically competitive
c. Cola soft d