Suppose the supply curve of physicists is given by w= 10 + 5E, while the demand curve is given by w= 50 – 3E.

Calculate the equilibrium wage and employment level.

Suppose now that the demand for physicists increases to w= 70 – 3E. Assume the market is subject to cobwebs.

Calculate the wage and employment level in each round as the wage and employment levels adjust to the demand shock.

(Recall that each round occurs on the demand curve – when the firm posts a wage and hires workers).

What is the new equilibrium wage and employment level?

Suppose an economy consists of three sectors: energy (e), manufacturing (m), and agriculture (a). sector e sells 70% of its output to m and 30% to a. sector m sells 30% of its output to e, 50% to a, and retains the rest. sector a sells 15% of its output to e, 30% to m, and retains the rest.

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $

Which of the following has the largest impact on opportunity cost