Three entrepreneurs were looking to start a new brewpub near sacramento, california, called roseville brewing company (rbc). brewpubs provide two products to customers—food from the restaurant segment and freshly brewed beer from the beer production segment. both segments are typically in the same building, which allows customers to see the beer-brewing process.

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

Many years ago, sprint telecommunications aired an advertisement intended to demonstrate the clarity of reception sprint customers could expect. the ad showed a rancher, who had used a different company, complaining that he had ordered 100 oxen from his supplier and instead received 100 dachshunds. the mix-up was probably due to the presence of in the communication process.

Assume the total cost of a college education will be $250,000 when your child enters college in 17 years. you presently have $69,000 to invest. what annual rate of interest must you earn on your investment to cover the cost of your child’s college education? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)