EC410A-11.19

EC410A-11.19





EC410A-11.19

Part 1

Model

Data:

w = wages per hour

Q = ?ln(L) = Output per hour

L = Number of workers

P = Selling price of output

Therefore,

wL = Cost per hour (wages paid per hour)

PQ = Selling price per hour

Profit per hour = PQ - wL

Profit per hour per worker = (PQ - wL)/L

Now, if the P is increased Profit per hour per worker will increase because,

?Profit per hour per worker = (?PQ - wL)/L

If w is increased Profit per hour per worker will decrease as the numberator will decrease,

?Profit per hour per worker = (PQ - ?wL)/L

Empirics

Riley Researcher assumed that every car station generates an equal amount of gas and therefore, it can only satisfy the needs of a limited number of cars. However, only a few gas stations with higher working efficiency and high number of consumers dealing rate can satisfy a large number of consumers as well. Moreover, it might not be the lack of gas stations that cause lack of gas cars but the lack of gas cars that requires a small number of gas stations. Therefore, if the number of gas cars increases in that town, the number of gas stations will increase as well to satisfy the needs.

Part 2

Paper 1

The Paper's Topic

The impact of certain characteristics and traits on the future of college graduates by Rebecca Nelson.

The Paper's Question

What is the impact of college GPA on the future employment and earnings?

What are the characteristics that affect the productivity of college students?

The Paper's Strong Points

Large data is analyzed to ensure authenticity of results.

The research is based on proper analysis of authentic stats and therefore, derives its conclusion logically.

The Paper's Drawbacks

The impact of learning ability is not discussed in detail in this paper.

Paper 2

The Paper's Topic

The impact of political parties on education quality by Daniel Sexton.

The Paper's Question

What is the ...