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Take a look at the labels of the clothes you wear. Are any of them made in the USA? As a nation, are we better or worse off because all of clothes are made elsewhere? Are the people in the places where your clothes are made better or worse off?
Angela and Bob Master have decided to start a company, Copymax, that will place self-service copy machines onto customer premises in libraries, universities, high schools, shopping malls, etc. Determine the break-even number of COPIES PER MONTH for e..
An athletic director was once quoted as saying that he felt his school spent too much on athletics but that it could not afford to stop. Use game theory to model and explain his dilemma.
The following is a labor supply function: Wage per hour Quantity of Nurse Supplied $2 1 4 2 6 3 8 4 10 5 12 6 Nurses are used by the clinic to provide clinic visits.
Suggest the substantive manner in which a low-calorie, frozen microwaveable food company could create a convergence between the interests of stockholders and managers. Indicate the most likely impact to profitability of such a convergence. Provide tw..
Think of the company that sells the product or service you identified in DQ #2 during Week One. Explain how and why the company would use the concepts of average productivity and marginal productivity
Alice runs a restaurant and it is only open on Wednesdays and Saturdays. Her total cost is TC=10+q2 where q is number of meals served per day. Her restaurant is a price taker. A meal is sold at $12 on Wednesday and $20 on Saturday. Get her average c..
Find the average daily balance for the following credit card account. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge is interest is 1.5% per month on the average daily balance. Finall..
Answer the following questions about break-even analysis. Millbridge Day Care Center operates from Monday to Friday. It has fixed expenses of $18,000 per week and charges each child who attends the program $300 per week. It costs the center $30 per w..
Economists frequently point out that factor movements between two countries can be a substitute for goods movements between the countries in terms of the impact on relative factor prices in the countries. Explain why the two types of movements can be..
Suppose short-run output exceeds full potential output by 3 percent. According to Okun's law, what is the effect on unemployment? Assuming that inflationary expectations are constant, what is the effect on wages?
An article in the Economist states that the value of potential GDP: "is almost impossible to pin down in real time since the economy's equilibrium long-run stock of capital and labour are so difficult to estimate with precision..." By "real time," th..
Lucky Midas is a risk-averse gold prospector who has struck it rich. He has $W worth of gold— his only wealth—safely stashed away on his claim in the Yukon. He wants to get his gold from his claim to the big city where he hopes to spend it. His frien..
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