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1. Which costs are pertinent to economic decision making? Which costs are not relevant?
2. A noted economist was asked what he did with his "free time." He responded by saying that "time is not free." Explain this response.
What is the quantity demanded at each price and calculating the coefficient of elasticity, is demand over this range elastic or inelastic? How do you know?
Create a list of three best practices to follow in the field of managerial economics and globalization. Provide a rationale for your response.
Explain clearly and concisely why the average worker may be choosing to work more in 2001 and carefully label your graph.
1 how does capital investment affect the marginal physical product of labor? does more college education have the
The government official who sponsored the new regulation argued (1) more people will want to get haircuts at a lower price and (2) thus more people will get haircuts. Do you agree with the economic reasoning of this official? Explain.
From the first e-Activity, speculate how the monopolist could be more efficient in the long-run considering new competition has entered the marketplace
Determine what changes in the relative proportions of labor and materials are needed to operate efficiently - Determine the marginal revenue function
What do you think would have happened in the absence of the CAP?
Explain why is advertising prevalent in many oligopolies, especially when industry demand is inelastic and illustrate your answer by supposing that with advertising, a company demand curve has price elasticity of -1.5 and without advertising,
Operations Decision
You have researched the common stock of two companies, company A and company B and have compiled the following data:
Within a few weeks, he set up a task force of managers to deal with the problem. And within a few months, they reduced the amount of scrap to $7000 worth [per year]." Was this necessarily an economically efficient move?
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