Please helpi want to make sure i am doing these problems correctly thank you 8. Difference in Differences Question:In the context of a Difference-in-Differences estimation, what is the parallel trendassumption?a. We assume that neither the treatment nor the control group change overtime.b. We assume that in the absence of treatment, the difference in outcomesbetween the treatment and control groups is constant over time.c. We assume that treatment would not have affected the control group even ifthey received it.d.We assume that the treatment group has volunteered to receive treatment.9. Card & Krueger 1994 Question:What did Card & Krueger find in their paper?a. Faced with an increase in minimum wage, NI saw a decrease in employment.b. Faced with an increase in minimum wage, NI saw an increase in employment.c. Faced with a decrease in minimum wage, PN saw a decrease in employment.d. Faced with a decrease in minimum wage, PN saw an increase in employment.10. Minimum Wage Theory Question:Theoretically, when would we expect a minimum wage to increase unemploymentunder perfect competition?a. When it is binding, meaning the minimum wage is above the market-clearingwage.b. When it is non-binding, meaning the minimum wage is below the market-clearing wage.c.When it is below the area's average cost-of-living on a 40h workweek.d. When it is above the area's average cost-of-living on a 40h workweek. MP and MRP, and Profit-Maximization Questions:If tacos sell for $2.50, and wage=$12.50, answer questions #1-#3Worker-Hours0123456789c. 7.5d. 6201528384754596264651. What is the MP of the 5th worker-hour?a. 10b. 7c. $2d. $12.50Tacos2. What is the MRP of the 8th worker-hour?a. $5b. $160MP(Question #1)MRP(Question #2)3. How many worker-hours should this firm employ to maximize profit?a. 5b. 6c. 9d. 24. Production Function General Form QuestionWhat is the general form of the production function, as discussed in class?a. Q=f(Employment, Capital)

Marginal product refers to the additional unit produced by adding one more unit of input .

MP and MRP and Profit-Maximization Questions: If tacos sell for $2.50, and wage=$12.50, answer questions #1-#3 MP Worker-Hours 0 1 2 3 4 5 6 7 8 9 0 15 c. 7.5 d. 62 28 38 47 54 59 62 64 65 Tacos 1. What is the MP of the 5th worker-hour? a. 10 b. 7 2. What is the MRP of the 8th worker-hour? a. $5 b. $160 c. $2 d. $12.50 (Question #1) MRP (Question #2) 3. How many worker-hours should this firm employ to maximize profit? a. 5 b. 6 C. 9 d. 2

MP and MRP and Profit-Maximization Questions: If tacos sell for $2.50, and wage=$12.50, answer questions #1-#3 MP Worker-Hours 0 1 2 3 4 5 6 7 8 9 0 15 c. 7.5 d. 62 28 38 47 54 59 62 64 65 Tacos 1. What is the MP of the 5th worker-hour? a. 10 b. 7 2. What is the MRP of the 8th worker-hour? a. $5 b. $160 c. $2 d. $12.50 (Question #1) MRP (Question #2) 3. How many worker-hours should this firm employ to maximize profit? a. 5 b. 6 C. 9 d. 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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