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Medfin Accounting Company (MAC) specializes in providing accounting and tax services for medical establishment and professionals. Presently, the company's production method is highly labor-intensive because many of the book keeping tasks are done manually. MAC employs 50 workers (L) paying them each, on average, $50,000 per year. MAC also has 40 computers (K). The company has leased these computers along with their accompanying software packages at $5,000 per year each. Presently the firm provides accounting and tax services to 150 clients.
Now starting back from the original mix of computers (capital) and labor -- that is 50 workers and 40 computers --, suppose the company wants to increase the size of its clientele. How would you suggest the company should pursue its expansion plan? What is the most efficient approach to this expansion? Should the company hire more labor and acquire more computers right away? Be as specific as you can.
Identify the area that represents producer surplus. (b) Describe briefly in words how a price floor can cause a “deadweight loss”.
What is the resulting deadweight loss relative to the competitive outcome. Compute the Lerner Index for the monopoly described in the question above.
Illustrate what are the effects on the growth rates of cumulative o/p, cumulative consumption, and also cumulative investment.
What are the advantages and disadvantages of regression models in comparison to using a computerized regression routine.
The _____ statement can contain both a review of the evidence and an attack of the other side’s case.
Suppose for an economic activity, your total benet and total cost functions are B (x ) = 654x - 40x2 and C (x ) = 110x +120x2 , respectively. The corresponding marginal formulas will be MB (x ) = 654 - 80x and MC (x ) = 110 + 240x . What is your best..
Illustrate would be its profit-maximizing cost if the company were to build the bridge.
Consider an antique auction where bidders have independent private values. There are two bidders, each of whom perceives that valuations are uniformly distributed between $100 and $1,000. One of the bidders is Sue, who knows her own valuation is $200..
Illustrate what conclusions can you draw about the similarities and differences between the EU and globalization.
Assume all markets are competitive, the product price is p = $2 per unit, the wage rate is w = $16 per hour and the firm's production function is q=E(36?E), where E is the level of employment and the firm's fixed costs are zero.
Economies of scale can be quickly exhausted not everyone wants to ‘shop' from same ‘store' size can also mean diseconomies of scale if focus Is lost and conflict of interest what matters to shareholders is profitability not Challenges (contd.) Do..
q.assume a calculator virus disables the nations automatic teller machines making withdrawals from bank accounts less
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