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Describe why marginal analysis must be used in decision making with examples. Also, give examples of poor decision-making when sunk costs were used to justify choices, and discuss how legal and ethical issues may play a role in making decisions.
You would like to determine if the average golf scores for women are different from the average golf scores for men. A random sample of female students scored an average of 115 with 95% confidence interval (112, 118). A random sample of male stu..
Find the equilibrium price, quantity produced, and quality level.
Topics to elaborate: Economy (Economy stability/Managing economy resources effectively/Unemployment/Good control system):
List the four major areas (audience analysis; objectives and budget; issues; and research) and explain how an organization designs a program around these four influences.
Determine how much tax revenue is generated by the tax and what the tax incidence on tax is on consumers and producers. need to indicate new price points and quantities.
What are the advantages and disadvantages of preventing the federal budget from ever being in deficit. Explain why the high employment deficit or surplus might differ from the actual budget deficit or surplus.
Suppose that you work for a nonprofit that promotes locally sourced agriculture. Your boss has tasked you with determining the equation for the market demand for broccoli. He or she states that you may assume that both the demand and supply curves ar..
Courts in Japan have recently begun to make awards to the families of workers who have been judged to have been "worked to death." That is, employers have been increasingly required by courts to make large financial payments
How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-c..
What effect should each of the following have on the demand for gasoline in a competitive market? State what happens to demand. Explain your reasoning in each case and relate it to a demand determinant. (a) an increase in the number of cars (b) ..
Suppose the central bank conducts an unusually large open market purchase of bonds held by banks of $1,400B due to a sharp contraction in the economy. Assume the ratios you calculated in part (a) remain unchanged, what do you predict will be the e..
Discuss the current monopoly to provide a brief overview of the company. How did the monopoly arise? Did the monopoly increase barriers to entry? Does the company behave like a monopoly or more like a competitive firm?
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