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How do piece rates provide incentives to work hard? Why is there not a greater reliance on piece-rate systems?
When it is 105 degrees outside and you get thirsty, how much you willing to pay for a 16-ounce bottle of water. If the price is $1.50 per bottle, do you have a consumer surplus or is there a producer surplus or both
a. Derive the demand and supply curves (qd and qs). b. What is the equilibrium price and quantity c. If P=$160 what will be the forecast of quantity demanded and quantity supplied d. At the price of $160 will there be either a surplus or shortage. Wh..
Explainthe effects of Ae / A on the unemployment rate
Suppose the demand curve for a monopolist is QD = 500- P, and the marginal revenue function is MR = 500 - 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. A. Find the monopolist's profit - maximizing output and pri..
Summarize how the vision, mission, and values guide the division's strategic direction.
suppose that you just purchased a used car worth $12000 in today's dollars.assume also that to finance the purchase you borrowed $10000 from a local bank 9% compounded monthly over two years. the bank calculated your monthly payment at $456.85
Price Quantity demanded $200 1000 150 1400 100 1800 a. If price falls from $200 to $150, what is the elasticity of demand over this range b. As output increases from 1,000 to 1,400 what is marginal revenue
Briefly describe the trade-offs involved in each of the following decisions. Specifically, list some of the opportunity costs associatedwith each decision, paying particular attention to the tradeoffs between present and future consumption.
In your responses to your classmates on the Middle Ground discussion, let your classmate know which argument appears to be stronger: the original claim or the new middle ground claim.
The kinked-demand schedule that an oligopolist believes confronts the firm is given in the table below. Compute the oligopolist's total revenue at each of the nine prices, and enter these figures in the table. Compute marginal revenue for each uni..
A principal hires an agent to run a business for one year. The agent can exert high effort or low effort. High effort lowers the agent's utility by 10,000. Low effort is costless. If the agent exerts high effort, the business makes a profi t of $..
The monopolist's demand function is P = $405 - $5Q, its average cost function is AVC = $20+$0.5Q, and its fixed costs are $6,000 per hour. Calculate the monopolist's profit maximization output, price and its hourly profit.
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