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5/27. Refer to the table below: Agency Number of Employees (2015) SOCIAL REGULATION Consumer safety and Health 42,266 . Food and Drug Administration (FDA) .

5/27.

Refer to the table below:

Agency Number of Employees (2015)
SOCIAL REGULATION
Consumer safety and Health 42,266
. Food and Drug Administration (FDA)
. Food Safety and Inspection Service, etc.
Homeland Security 146,109
. Transportation Security Administration (TSA)
. Customs and Border security
. Immigration and Customs, etc.
Transportation 9,282
. Federal Aviation Administration (FAA)
. Federal Motor Carriers Safety Administration
. Federal Railroad Administration, etc.
Workplace 12,589
. Occupational safety and Health Administration (OSHA)
. Mine Safety and Health Administration
. Employment standards Administration, etc.
Environment 27,321
. Environmental protection Agency (EPA)
. Forest and Rangeland Research
. Fish and Wildlife Service, etc
ECONOMIC REGULATION
General Business 21,718
. Patent and Trademark office
. Securities and Exchange Commission (SEC)
. Federal Trade Commission (FTC), etc.
Finance and Banking 15,236
. Federal Reserve System
. Federal Deposit insurance Corporation (FDIC)
. Comptroller of the Currency, etc
Industry-Specific Regulation 7,006
. Agricultural Marketing Service
. Federal Communications (FCC), etc.
Total Regulatory Employment: 281,527

If the average U.S. worker produces $75,000 of output per year, what is the annual opportunity cost of the federal regulatory workforce? Instructions: Enter your response rounded to one decimal place. $ billion

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6/27.

Suppose a corporation has two subsidiaries, one of which is unregulated and sells all of its output to the other, regulated subsidiary. Permitted profits at the regulated subsidiary are equal to 10 percent of total costs. The initial profit picture for the subsidiaries is provided in the table below:

Unregulated Subsidiary Regulated Subsidiary
Total revenue $ 450,000 N/A
Total costs $ 150,000 $ 1,000,000
Total profit $ 300,000 $ 100,000

If the unregulated subsidiary doubles its selling price to the regulated subsidiary, what are the new profits at Instructions: Enter your responses as a whole number. (a) The unregulated subsidiary? profit = $ (b) The regulated subsidiary? profit = $

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