Jane is the General Manager at a new café and wants to hire a few baristas.  The going rate for baristas is $15 per hour.  Jane has heard that many of the local coffee shops have high turnover with baristas “ghosting” them – simply not showing up for their shifts and never coming back.  Jane starts to put together an advertisement to hire baristas for $15 per hour, but changes her mind and lists the wages she will pay at $20 per hour.  Why would Jane pay $15 per hour?  What’s her rationale for paying $20 (or any wage higher than $15)?

Randall owns a small bakery. During his first few months in business, he charged $4 for each specialty cupcake, averaging sales of about 200 cupcakes each week. When Randall dropped the price one month to $3 each, he sold nearly 500 each week. These results are consistent with the economic concept of demand. True or False True False

Weiwei gets a part-time job in high school that pays $5 per hour with flexible hours. Shechooses to work 6 hours per week, earning $30 per week. After a while, her job reduces herpay to $4 an hour. In response, she cuts back to working 5 hours per week, earning only$20 per week. Weiwei’s parents feel bad about the pay cut, and decide to give her a weeklyallowance, in cash, to make up for it. If they want to get her back to her old utility level,how much should they give her and why?  (Select one answer from below) : (a) $10: that is her total amount of lost earnings(b) Between $10 and $6: that is the income effect minus the substitution effect(c) Between $10 and $6: leisure is a luxury good for high school students(d) $6: that is how much she would have lost if she kept working 6 hours(e) $5: the substitution effect offsets the change in labor hours(f) Between $6 and $0: she will substitute away from labor at the old bundle(g) Between $5 and $0: a pay cut is like a negative in-kind…

Use the following image to answer:    The first is a (human) worker, who must be paid $18 for each hour they spend producing chairs. The second is a robot, that costs $15 of inputs (including electricity and maintenance) for each hour it works. Assume that the sale price of chairs is always sufficiently high that it is profitable to fulfill this 80-chair order. The firm needs to make 80 chairs to fulfill its order. Assume also that the firm is profit maximizing (& therefore cost minimizing).    Now suppose that the local economy increases the minimum wage, and the price of an hour of a worker’s time increases from $18 to $27. 1) What does the principle of substitution say should happen to the firm’s use of (i) worker hours and (ii) robot hours?    Pls show full calculations

The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Goods 200 I Quantity Demanded 180 10 (Units) 160 140 Demand Price 100.00 (Dollars per unit) 120 100 80 60 Demand 40 20 6 8 10 QUANTITY (Units) 0 2 4 8 12 14 16 18 20 On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 4, 8, 10, 12, 16, and 20 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 1000 900 Total Revenue 800 700 600 500 400 300 200 100 + 2 4 6 8 10 12 14 16 18 20 QUANTITY…

Please help!! Barbara is an economist researcher and commentator. The Eco Books Ltd offers her $13,000 for writing a book about economics principles. Barbara has never written a book about economics principles, but accepts the offer and writes the economics book called 'Principles of Economics'. She assigns the book's copyright for $13,400 to The Eco Books Ltd. The book is published and she is paid. She also sells the book's manuscript to the Eco Books Ltd's library for $4,350 plus several interview manuscripts she has collected while writing the economics book for which she receives $3,200. Discuss each of the above payments to Barbara separately and states if these are income from Barbara's personal exertion. Would your answer differ if Barbara wrote the Principles of Economics' book before signing a contract with The Eco Books Ltd in her spare time and only decided to sell it later? Support your answer by referring to relevant statutory and case law.

Exercise 6.3.Little Kona is a small coffee company considering entering a market dominated by Big Brewer. The benefits of each of them depend on whether or not the first enters and whether the second sets a high or low price: After analazing the graph, answer the following question: Great Brew threatens Little Kona by telling her, "If you go in, we're going to set a low price, so the best thing you can do is not get in." Do you think Little Kona should believe the threat? Why yes or why not?

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Food City has determined the demand for watermelon decreases by six people every time they increase the price by $1. They have 90 watermelons to sell. Determine what price to sell the watermelon at to earn $246.24.

Use the following image to answer the questions: The first is a (human) worker, who must be paid $18 for each hour they spend producing chairs. The second is a robot, that costs $15 of inputs (including electricity and maintenance) for each hour it works.  Assume that the sale price of chairs is always sufficiently high that it is profitable to fulfill this 80-chair order. The firm needs to make 80 chairs to fulfill its order. Assume also that the firm is profit maximizing (& therefore cost minimizing).   1) What combinations of robot and worker hours must they use to minimize costs? Show your work. Please Use the equation that must be true for cost minimization   pls show full calculations