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A small consulting firm is only interested in hiring College graduates (denoted by S), but it does not know how many it should hire in order to be profit maximizing. Assume there is a competitive wage of $20 per hour and the production function is F(S) = 100S – (1/8)S2. Hiring additional workers will increase production F(S) over relevant ranges of S. But is the 51st S more valuable than the 50th S in terms of her additions to overall production? What quantity of college graduates should this firm hire and why does it stop hiring at this level of S? How does your answer change if the production function is F(S) = 200S – (1/8) S2 and the wage increases to $22?
Discuss the social and economic effects of colonization? How did it contribute the “Price revolution”?
A farmer is producing where MC = MR. Say that half of the cost of producing wheat is the rental cost of land ( a fixed cost ) and half is the cost of labor and machines ( a variable cost ) . If the average total cost of producing wheat is $20 and the..
Then make an argument for why the government may still prefer using the other approach.
How you would adjust a nominal value in one year to equal the same purchasing power in a nominal value for another year. Explain why anyone would ever want to do this.
Discuss the importance of a well-developed compensation plan in attracting as well as retaining good employees as well as how to keep those plans from "working too well."
What are the major institutional changes that take place with economic development? Are these institutional changes causes or mere correlations of growth? Or is growth a cause of institutional change?
Explain how manager could improve and become more "well rounded". Also include what this manager did well. Include observations about the managerial environment.
Federal Reserve System: What are the main powers and responsibilities of the Federal Reserve System? What are its two mandates and some of its other goals?
Suppose we are at steady state in the Solow Model. Suddenly we have a significant technological advance. Show, using properly labeled graph(s), how this improvement in technology affects the steady state levels of income per worker, consumption per w..
Explain how would you extend the above narrative to businesses, society as a whole or nations.
Billboards cost money to make and don't really seem to significantly benefit anyone other than billboard-makers. A company c putting up billboards presumably increases profits from the resulting increased number of customers, but don't competing busi..
A Technology Management graduate student bought a motorcycle for $30,000, paying a down payment of $10,000. The dealership agrees to take the bike back for $8,000 at the end of 4 years. The student’s uncle owns the dealership. If the monthly payment ..
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