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Subway restaurants require labor to produce output. The number of workers to hire is often an important decision of Subway because it affects the costs and profits of the firm.
1.) Discuss two factors that would increase your demand for labor.
2.) Is labor an fixed or variable cost in the short run? What are the fixed costs of your firm?
3.) Explain the law of diminishing returns in your own words. This idea can be applied to other concepts in economics. Think about your own utility from consumption. Give a personal example of diminishing utility.
4.) How is wage determined in any market?
Assume that both the equilibrium price and quantity of golf clubs rise. Which of the following explanations would best explain this outcome?
In a practical sense, write your opinions on the effect a rule stating that university students must live in university dormitories would have on the price elasticity of demand for dormitory space.
Ajax, Inc. has appointed you to examine the demand for its line of telecommunications devices in 35 different market areas.
Assume your elasticity of demand for your parking lot spaces is -.05, and price is $20/day. If your MC is zero, and your capacity at 9 a.m. is 96% full over the last month, are you optimizing?
We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
Assume the Fed decides to buy $1 billion in Treasury bonds from the public. Suppose that the reserve requirement is 10%. What takes place to the interest rate and money supply?
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
Find Total Revenue or profit
Describe an example of risk calculation found on the web and what risk calculation technique is illustrated by your example? Would you have employed a different risk assessment technique than used in your example, and why?
Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
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