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A firm currently uses 100 workers to produce 200 units of output per day. The daily wage (per worker) is $80, and the price of the firm's output is $50. The cost of other variable inputs is $600 per day. The firm’s fixed cost is 8,000. The marginal cost of the last unit is $50. Given the information, what is the profit or loss? Should the firm continue to operate? Carefully explain your answer.
What are the potential long term problems for unions in agreeing to labor-management cooperation programs?
Do an Internet search on international faux pas. Read about behaviors that are rude or inconsiderate in other cultures that you might not find offensive at all. Are these behaviors considered inappropriate in only one other culture or in many? How mu..
Which of the following is not an example of a process designed to combat moral hazard problems?
Competition in the market is such that each of the firms independently produces a quantity of output.
what are the examples to producers take advantage of the internet to implicitly fix the prices
Draw the average and marginal revenue curves and the average and marginal cost curves. What are the monopolist’s prot-maximizing price and quantity? What is the resulting prot? Calculate the firm’s degree of monopoly power using the Lerner index.
Explain rational expectations in your own words. Using the rational expectations model is the U.S. stock market efficient? Why or Why not?
Explain the relationship among the bowed out shape of the production possibilities frontier and the increasing opportunity cost of a good as more of it is produced.
If the marginal product of the 4th worker hired is 6, and the marginal product of the 5th worker hired is 4, you should not hire the 5th worker because your profit would decrease since the 5th worker’s marginal product is less than the marginal produ..
Explain the difference between absolute and comparative advantage. Explain the law of increasing (opportunity cost). What causes cause to increase? What factors or events could cause an inward shift of the production possibilities curve?
q1. discuss the pros and cons of annuities when compared with other financial instruments and whether they provide a
What are the determinants of demand? What happens to the demand curve when any of these determinants change? What is the difference between change in demand and change in quantity demanded?
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