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a) When Kodak leased large photocopiers to businesses, they also bundled a maintenance contract for periodic repairs. Third-party repair firms claimed that Kodak violated antitrust laws because this bundle guaranteed Kodak a monopoly on repairs and excluded competitors’ access. Why might the bundle have created value over what third-party repair shops could offer?
b) Kroger Groceries provides store managers flexibility to determine prices for a number of popular items they carry because demand is affected primarily by local conditions that managers are more aware of. To make sure managers use this discretion wisely, managers are rewarded with bonuses based on quarterly sales. With improvements in data collection and analysis, the “quants” in corporate headquarters can run many small experiments. Doing so allows them to understand nuanced patterns in consumer demand that had been un-noticed previously. How does this affect manager compensation?
c) Explain economic reasoning behind certain industries use of incentive pay versus hourly/salary systems
d) In most departments, Macy’s clerks are paid an hourly rate. As a consequence, they would prefer to spend the time goofing off than helping customers. The store developed a number of policies to combat this preference. For example, supervisors roam the store breaking up congregations of employees who are gossiping. However, with the advent of smartphones, employees can pass the time surfing the web, playing games, or posting to social media. How can Macy’s alter compensation so as to combat this new form of shirking?
This problem uses a utility function of the form U = 1 – exp(-0.002 X Income) where exp(z) means “ez”. The problem analyzes a gamble in which Income = 1,000 with probability 0.4 and Income = 3,000 with probability of 0.6. Calculate the expected incom..
Which firm's product provides the greatest value-created. In an industry equilibrium in which the firms achieve consumer surplus parit.
The Mundell-Fleming model takes the world interest rate r as an exogenous variable. Let's consider what happens when this variable changes. What might cause the world interest rate to rise? In the Mundell-Fleming model with a floating exchange rate, ..
Given your understanding of bond markets, what signals is the the bond market sending in response to the downgrade. Is this problematic.
q1. firms with costs c q2 36 face demand p 24 - nq and behave under the rules of monopolistic competition. compute
Algebraically describe the market equilibrium price/output combination. Find out the price below which the firm will go out of business.
Jenny, your niece, is a smart high-school student who wants to make intelligent choices for her future. Hearing of your course in business economics,
Illustrate what happens to the marginal product of each individual factor as that factor is increased, and the other factor is held constant.
The following data pertain to products A and B, both of which are purchased by Madame X. Initially, the prices of the products and quantities consumed are: Madame X has $100 to spend per time period. After a reduction in price of B, the prices and qu..
explain a diagram for an industry in a developing country where infant industry protection might be a good idea. What are arguments for and against governments in developing countries giving infant industry protection to new industries.
Calculate scale elasticity at the mean of the data; In order to reduce unit cost would you recommend an increase or a decrease in total production? Why?
Assume that this is a pass/fail assignment, where the passing grade is low enough that one person can produce a passing paper.
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