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2,000 years ago gladiators fought in the Coliseums of Ancient Rome making huge salaries. Is this an example of a "Winner - Take" all society? Explain how this is still a big part of today’s US or any other typical Western Society. What about a NFL Football Players wages too?
Janice Wallermthe manager of the customer service depart at First Bank of Jefferson County,can hire employees with a high school diploma for $20,000 and employes with a bachelor's degree for $30,0000.
Find the following probabilities for a sample of n = 10 trainees selected at random. Two or more are rated as outstanding. None of the trainees are rated as unsatisfactory.
In looking at GDP we see that not all aspects are counted. Do you find that the items like buying a home or a used car should be counted in GDP?
Explain the concept of more is better satisfied for both goods. Elucidate as C increases the MUC increase, decrease or remain constant.
Derive Chenyu's consumption function in terms of her annual income Y and initial wealth W according to the life-cycle model.
Illustrate what is the annual cost for chocolate syrup buffer stocks. Illustrate what impact does the variability of demand seem to have on buffer stock.
Consider both sides of the argument and come to a decision of whether to close the plant or continue to operate it. How would you explain to either the president or the CEO that he or she is wrong?
Explain why might it be appropriate for the government to allow a pharmaceutical company to have a monopoly in the production of a drug.
Suppose a particular labour market were in market-clearing equilibrium. What could happen to cause equilibrium wage to fall. If all money wages rose with inflation each year, how would real wages in this market adjust.
Why would you sell these items through retail stores, or would you try direct marketing.
A firm can determine how many resource units to acquire by comparing Marginal Revenue Product and Marginal Factor Cost, then continuing to acquire another unit so long as its MRP exceeds, or at least is no worse than, its MFC.
Show the Income Consumption Curve for this consumer for income values M = 12, M = 24, and M = 36.
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