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Learning Activity : When in Malaysia W.B. Milestone, Inc., a manufacturer of sophisticated computer parts, recently moved the operations of one of its divisions to Malaysia. The Company has hired several hundred workers at wages considerably below their U.S. counterparts, but consistent with the prevailing wages in Malaysia. Not only is the Company benefitting from the lower wages, it is also able to reduce its costs further because of the deplorable factories used for its operations (no air conditioning and poor ventilation), it can dispose of waste without any government oversight, and government inspectors are routinely given gratuities for favorable inspection reports or to otherwise grease the skids for the Company. The Company’s operations are in all key respects in accordance with the laws of Malaysia. You were recently hired as a senior vice-president in charge of the Malaysian operations and you are concerned about what you have seen and heard as to how the plants are being operated. When you called a colleague in the states, he said to you “keep your mouth shut and when in Rome do as the Romans do”. What are some of the ethical issues you should consider in charting your course of action and how would you resolve them?
Perfectly competitive firm has short-run cost function: SRTC = q^2 +30q +400. Corresponding SRMC function is given by: SRMC = 2q+30. Is $50 a long-run equilibrium price? Explain reasoning. Find the equation of this firm's short-run supply function
Identify the four factors articulated by a federal judge in 2009 for determining whether a government agency as sufficient “control” over a document to render it an “agency record” for purposes of the federal Freedom of Information Act.
The expenditure approach (the sum of all spendings) to measuring the value of the nation's output (GDP) is equivalent to the income approach (the sum of all payments to factors). Discuss and illustrate with examples(s) where necessary. Real GDP is th..
Resizing them as necessary, to illustrate your analysis. In each case, Illustrate what are the short-run and long-run effects on the aggregate price level and aggregate output.
Consider a firm with constant returns to scale production. Suppose that MC = 4. If all input prices double, what happens to MC? Draw the supply curve for the firm. How do profits respond to price?
Describe various opportunity costs of attending a four-year college (assuming a full-time schedule). Given these opportunity costs, why do people choose a four-year college experience? In your own life, what are the trade-offs you face when choosing ..
When is predatory pricing a most effective entry barrier?
Kim and Pat underwrite insurance. Each underwrites 50 accounts per month. Each account takes four hours to underwrite. The value of their time is $40 per hour. Monthly costs for each are $1,500 for an office, $2,000 for a receptionist, and $2,400 for..
The government introduces a new regulation according to which all carpenters must have a license. Assuming that the market for carpentry services is perfectly competitive, explain the effect of the licence on an individual carpenter's (i.e. the suppl..
Illustrate what policies do governments adopt to redistribute income and how do those policies help the country's economic growth.
Why do some companies spend a lot of money for advertising? What does it say about a the market structure the company is in when they advertise a lot or a little?
Identify an instance where a price control is used in our markets. Why do you think this price control exists? Also discuss the possible negative effects it may have on the market
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