1. Given that the minimum wage is 7500 lira per month, unskilled worker productivity is 30 units...

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1. Given that the minimum wage is 7500 lira per month, unskilled worker productivity is 30 units per month, and the selling price of output is 200 lira per unit. Find VMP and the shadow wage rate for unskilled workers.

2. Given an electricity subsidy rate of 40%, and the shadow price of electricity is $0.067/KWhr, find the financial price of electricity per KWhr that should be used in the financial NPV.

3. Explain the logical reasoning that [economic NPV < financial NPV] based on: (1) monopoly, and (2) high subsidy rates.

4. Suppose you are analyzing the employment effects of a Science Museum project. Give an example for two secondary jobs related to this project, and then provide two examples of induced jobs from each secondary job you provided.

Posted Date: Nov 27, 2021 10:03 AM

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1. Given that the minimum wage is 7500 lira per month, unskilled worker productivity is 30 units...

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1The Value of Marginal Product VMP is calculated as the selling price of output per unit multiplied by the productivity of an unskilled worker which i... View the full answer

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