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Business Basics Assignment
1. Human Resource departments are often portrayed as powerless work units, existing on the periphery of an organization's operations. Articulate an argument demonstrating the importance and centrality of HR departments in today's chaotic and competitive world. How can a weak HR department help bring a company to an early demise? (one page response, single-spaced)
2. Newly minted MBAs looking for employment assiduously avoid jobs in the "operations" areas of companies (e.g., manufacturing, order processing, paper flow processing) because they see these to be boring, dead-end jobs. (Generally, they prefer to work in sexy areas such as finance, marketing, and sales.) Interestingly, a key thrust of business process reengineering has been to focus on making dramatic improvements in the operations areas of business, because operations lie at the heart of most enterprises. Explain how poor, neglected "operations" is in fact the ugly duckling that can mature into a swan. How can companies that neglect their operations find themselves in serious trouble? (one page response, single-spaced)
Suppose a closed economy decides to lower taxes (assume Ricardian equivalence does not hold), all else held constant. What will happen to savings, investment, and the interest rate? Show graphically what happens (be sure to label curves, axes, equili..
Which of the following is true regarding the grand jury system?
F1 & F2 are the fixed costs of Firm 1 and Firm 2. D1 & D2 are the marginal costs of each firm. What is the socially efficient quantity for monopoly? What is the NSB of the socially efficient quantity?
The Index of Small Business Optimism declined 3 points in June 2012, falling to 91.4 and losing gains achieved earlier in the year, according to the NFIB Research Foundation report. Labor market indicators and spending plans for inventories and capit..
Graphically elucidate how electrical monopolist would determine its profit maximizing price and output level. Identify the area of consumer and producer surplus for the profit maximizing monopoly.
If congress took steps to consolidate banks, thereby reducing the total number to 2,500, illustrate what would you expect to happen to costs within the banking industry.
In the competitive market for welding services in Logan, assume that a > 0 and b > 0 are exogenous variables: a represents the price of a related good, and b represents the number of welders (i.e., sellers) in the market. Describe an economically rea..
Which of the following statements is true with respect to a market in which there is a perfectly price discriminating monopolist?
Mining is proposed for a wilderness area that provides two benefits: recreation (due to backpacking opportunities) and biodiversity (there are endangered wildlife and plants). What is the present value of mining in the area (excluding effects on recr..
Assume that Bob is only purchasing two products G and W. The market price of G is $25 and of W is $20. By spending all of his budgeted amount on these two items, he is maximizing utility and receiving 100 utilities from the last unit of G and 80 util..
Two economies are identical except that the level of capital per worker is higher in Highland than in Lowland. The production functions in both economies exhibit diminishing marginal product of capital. Which economy will experience higher output per..
Utilizing the preceding write equations for total cost, average cost, and average variable cost.
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