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After two quarters of increasing levels of production, the CEO of Canadian Fabrication & Design was upset to learn that, during this time of expansion, productivity of the newly hired sheet metal workers declined with each new worker hired. Believing that the new workers were either lazy or inefficiently supervised (or possibly both), the CEO instructed the shop foreman to "crack down" on the new workers to bring their productivity levels up.Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.Provide an alternative to cracking down as a means of increasing the productivity of the sheet metal workers. Fully explain your alternative in terms of production theory.
A company analyse it has the following short-run demand. What initial price should the firm charge.
Explain in a nontechnical way why demand is elastic in the northwest segment of the demand curve and inelastic in the southeast segment.
Illustrate the difference among the midpoint price elasticity.
The Bureau of Labor Statistics announced that in February 2008, of all adult Americans, 145, 999,000 was employed, 7,381,000 were unemployed, and 79,436,000 were not in labor force.
During August 2009. 80 people lost their Jobs and didn't look for f new ones, 20 people quit their jobs and retired, 150 unemployed people were hired, 50 people quit the labor force,and 40 people entered the labor force to look for work. Calculate..
Explain how much control might an organization have over pricing based on a product's elasticity
Explain why is efficiency lost at the extremes as when substantially more of one good and very little of another is produced?
There are two goods in the economy, anchovies (a fish) and bananas ( a farm product). Draw the economy's production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
In a perfect capital market, advices for a corporate financial manager on making capital structure decisions.
Illustrate what is the gain for a nation that results from specialization in the production of products for which there is a comparative advantage.
How would multiplying a positive constant to a linear demand function affect its own-price elasticity of demand? In particular, how would the elasticity of demand of \(Q_{x}=a+bP_{x}+cP_{y}+dI\) at a point compare with the elasticity of demand..
An ice cream shop read in the local paper in which the elasticity of market demand for ice cream
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