Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Econ 213 problem set 2

31/10/2020 Client: papadok01 Deadline: 3 days

ECON 213

Problem Set 2

Name: Ulecia A. Culmer

Problem Set 2 is due by 11:59 p.m. (ET) on Monday of Module/Week 4.

1. The following table presents data for wages in the market for Internet security professionals.

(Hint: In the labor market, the roles are reversed. Those who want to hire labor are the demanders. The workers enter the workforce providing labor to the marketplace, so they are the suppliers.)

Wage

Quantity Demanded

Quantity Supplied

$50,000

20,000

14,000

$60,000

18,000

18,000

$70,000

16,000

22,000

$80,000

14,000

26,000

$90,000

12,000

30,000

a.) What is the equilibrium wage? __________$60,000_________________________

Now, consider this scenario: Due to an increase in Internet security threats, the government wants to apply a price control in this market to encourage more people to become Internet security professionals. Assume that a wage control is set at $75,000.

b.) Will this increase the number of people entering this labor market? Why or why not?

Yes, this would increase the number of people entering the market (the supply) byapproximately 6,000. With the wage increase, it makes more people interested in thejob

c.) Will this increase the number of people hired? Why or why not?

2. Assume you are a policymaker in Washington, DC. Lobbyists for the Preschoolers of America have put pressure on their representatives to cap prices on graham crackers. You have been assigned a position on a new committee to study the impact of a price ceiling on graham crackers.

Your job is to:

a.) Illustrate using a fully labeled supply and demand graph what such an artificial price looks like (label all the axes and any lines you put in your graph).

b.) Explain what the results of such a move are for the graham cracker market. In other words, will there be a shortage, a surplus, or neither created? Why?

3. Pollution is considered by most a negative externality. Some economists would like to see the costs of these burdens incorporated into the price of goods that we buy. For instance, since coal-fired power plants increase emissions that could potentially lead to climate change, these economists believe that the price we pay for electricity is not high enough.

a.) Draw a completely labeled graph and illustrate on the graph how much higher electricity prices would be if the full costs of electricity production were taken into account. You do not need to provide actual numbers; rather, show on the price axis where the price would be before the externality is considered and where the price would be after the externality is considered.

b.) What problems might exist in determining this new, externality-based price?

4. Using the information below about individuals and their willingness to pay for a bottle of ginger ale, calculate the total consumer surplus at a market price of $5.

Maximum amount a buyer would pay for ginger ale

Scott

$10

Dennis

$4

Greg

$8

Dave

$7

Mike

$5

Using the information below about willingness to supply ginger ale, calculate the total producer surplus at a market price of $5.

Marginal cost of producing ginger ale

Gene

$6

Brandon

$3

Matt

$2

Cooper

$11

Jed

$5

How do your answers change if the price falls to $2?

Page 3 of 3

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Writer Writer Name Offer Chat

Writers are writing their proposals. Just wait here to get the offers for your project...

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Hook for cell phone essay - 1 nephi 3 7 meaning - Pros and cons of grandparents raising grandchildren - Complexity of Information Systems Research in the Digital World - Kri kri ice cream - Grep r cheat sheet - Team rocket kekeke pokemon go - Cables with distributed loads - Barwon community legal service - Johns hopkins hospital financial statements 2018 - What is the actual web host name to which www.polito.it is resolved? - Drowning ruth book club questions - Size of a2 paper cm - Sttss homework - Organizational behavior midterm exam answers - Enthalpy of formation of solid ammonium chloride from the elements - How to cite aicpa code of professional conduct apa - Research paper - Stealing buddha's dinner chapter summary - Bd vacutainer order of draw - Jay z most kings - Annotated Bibliography - E electric emergency credit - DEP200 - Module 7 paper - Cube faces and edges - Week 4 discussion - Compare and contrast fiction and drama - Unicellular organisms and multicellular organisms differences - Pamela hays addressing framework - World music a global journey 4th edition ebook - 2 PAGES ESSAY - What is the domain of a rational expression - Www getactivesports com au - Media ethics issues and cases 9th edition pdf free - Verbos complete the chart with the correct verb forms contar - Statistics for Business - War horse book facts - Charles law demonstration balloon - Nursing re entry program - Discussion post - Literature Review - Penetration test proposal deliverable 1 rules of engagement - Scm globe simulation - Brodie's law crimes act - Components of scheme of work - What are the two basic functions used in encryption algorithms - A new england nun characters - Introduce Your Self & Tell Us Your Goals for the Class - Minimum 12 page total....3 Essays...Each essay must be 3.5 pages. 100% Plagarism Free. APA Format ONLY & correct reference page. - WW 2 - Mdq decision making model - MATH300 - Wicked good cupcakes shark tank - Marketing/Info Systems Information Assessment Project - 10 facts about the dewey decimal system - Blackboard valpo - Http www helpguide org mental child_abuse_physical_emotional_sexual_neglect htm - Alarm fatigue picot question - Armstrong and miller brabbins and fyffe - Discussion - Bham it service desk - 5 indicators of a chemical change - Persuasive outline on abortion - My grandson is about as many days - Http www wisc online com objects viewobject aspx id sce304 - Interactive operating system example - Cross hatching and stippling - Stata horizontal bar graph - Introduction of thums up and campa cola range - Educating rita study notes - Toasting bread chemical change - CCM-3 - Wave interference phet lab answer key - How to solve corresponding angles - KZN TOTAL CARE O835179056 SAFE ABORTION CLINIC//PILLS Umhlanga Rocks Umlazi Verulam Warner Beach Westville - Helping skills facilitating exploration insight and action 4th edition - How to create a family pedigree - Employee retention strategy of nike - Army apft 2.5 walk standards - Lbs indos cell contact number - St davids doctors surgery - Managing integrated marketing communication process - A minor who enters into a contract for necessaries - Confucius lives next door cliff notes - Organizational behavior chapter 4 personality and values - TEE201/05 Electrical Circuits and Power - Control theory services marketing - Flamingo land to liverpool - The crucible act 2 - Outline and essay - Customer Relationship management - Temperature controlled fan circuit diagram - Week Research Paper 2 - Info Tech Strat Plan - Comprehensive business governance plan - Psychotherapy With group - Square root of 0.5 - Regression movie rotten tomatoes - The power of critical thinking 6th edition answers - Behavior trap definition