Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Mark works for Maple Feel Inc., which exports maple syrup to Slovakia. Currently, he generates $60,000 a year of net revenues for the firm and his salary is $60,000 per year. Mark is planning to hire a teacher to learn some Slovak. His only cost would be the teacher's fee of $50 per hour. Mark expects that if he devotes H hours to the study of the Slovak language, his ability to generate sales in Slovakia will increase to $60,000 + $1,400H1/2 per year. Mark will retire after one more year of working.
(a) Suppose there are many similar companies trying to export goods to Slovakia and in each of them Mark's knowledge of the Slovak language would be equally useful as in Maple Feel. How many hours will he devote to learning Slovak?
Now suppose Maple Feel is the only company in which Mark's knowledge of Slovak could be useful and that Mark's bargaining power is such that he could negotiate a wage increase equal to 20% of the gains from his increased productivity.
(b) How many hours will Mark devote to learning Slovak if he bears all of the costs of his study?
(c) Suppose the company agrees to subsidize Mark's learning. How much of the $50 hourly fee will be paid by the company if they want Mark to study the efficient number of hours?
Describe the Optimisation of managerial economics Optimisation techniques are perhaps the most vital to managerial decision making. Given that alternative courses of action are
Menu Costs Why do firms not change their prices very frequently? Obviously, the costs of changing prices at frequent intervals and in small amounts must be more than the b
NOMINAL RIGIDITIES VERSUS REAL RIGIDITIES Nominal rigidities are said to exist when nominal prices and wages do not change in the face of conditions that call for thei
Q. What is Marginal cost curve? MC curve is also 'U' shaped as in Figure below. Marginal cost curve falls initially but then reaches a minimum point and lastly rises. Shape of
When given two demand functions to calculate elasticity of demand do you use point elasticity or arc elasticity of demand formula
A firm's technology needsit to combine 5 person-hours of labor with 3 machine-hours to make 1 unit of output. The firm has 15 machines in place and the wage rate rises from $10 per
Bank Deposit Bank notes and coins together constitute the currency in circulation. But they form only a part of the total money supply. The larger part of the money supply i
Using Total Expenditure for Calculating National Income The expenditure approach centres on the components of final demand which generate production. It thus measures GDP
Two firms are engaged in Bertrand competition. Both firms have a stable marginal cost of €7. Presently, every firm is allocated half the market. There are 10,000 people in the popu
Jane, the manager of a company manufacturing air-conditioning units can choose between two production technologies for a new product line. If she chooses and installs technology 1,
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd