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Suppose that the production function of a fictional economy is Cobb-Douglas with parameter alpha = 1/3. What share (fraction) of income does labor receive? What share (fraction) of income do capital owners receive? Suppose that immigration raises the labor force by 10%. What happens to total output in percentage terms. What about real wage and real rental rate? Suppose that a gift of capital from abroad raises capital stock by 10%. What happens to total output in percentage terms? What about real wage and real rental rate? Suppose that a technological advancement raises the value of the parameter A by 10%. What happens to total output in percentage terms? What about real wage and real rental rate?
Explain the concept of value of perfect information in decision analysis. Give a real world example where the value of perfect information will be useful to a decision maker.
Describe an agency relationship and how it may/will take shape for your small company. As the sole employee and investor in your startup, what agency conflicts might arise? Si
Based on you experience, reading and other sources, what are some suggestions you can make to your classmates about how to manage up (manage your boss, investors, suppliers) i
Operations management concepts can be applied to both manufacturing and service operations. It can often be more challenging to apply them in a service operation. Briefly
What do you think determines how a company decides to structure itself? Can any company go global? Why or why not? The best motivator in the workplace is usually money versus
In cell H6, enter a formula to determine any discount that should be applied. If the payment method was Express Miles or Rewards, the customer should receive the discount show
A worker-machine operation was found to involve 4.8 minutes of machine time per cycle in the course of 40 cycles of stopwatch study. The worker’s time averaged 1.6 minutes per
Flipkart is an Indian eCommerce giant. Describe the main advantages the Flipkart or similar eCommerce companies have over their Brick-and-Mortar (physical presence business) c
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