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1. For what types of employees or positions do you think management by objectives (MBO) should prove particularly effective? Ineffective?
2. Sales of a particular product (in thousands of dollars) for the years 2005 through 2008 have been 48, 64, 67, and 83, respectively.
a) What sales would you predict for 2009 using a simple four-year moving average?
(b) What sales would you predict for 2009 using a weighted moving average with weights of 0.50 for the immediate preceding year and 0.30, 0.15, and 0.05 for the three years before that?
A refrigerator sold for $500. The store announced the refrigerator by charging 0.5% monthly interest on the unpaid balance. If the refrigerator is paid for with 30 equal end-of-month payments: What will be the size of the monthly payments?
Describe demand and marginal income curves faced by a industry in a purely competitive market. Are they different from those faced by a industry in oligopolistic competition.
Suppose you amke an annual contribution of $3000 to your savings account at the end of each month for 10 years. If the account earns 7% interest annually, how much can be withdrawn at the end of 10 years?
Calculate the firm’s maximized profit, and the revenue and cost that produce that profit. (h) Calculate the elasticity of demand at the profit-maximizing point. (i) What is the firm’s markup at the profit-maximizing point? Confirm that this markup ha..
The cost function for a firm is given by TC = 6,000 + 12.5Q. The firm sells output in a perfectly competitive market and other firms in the industry sell at a price of P = 25 - 0.5Q. (i) What level of output should be produced to maximize profits?
Karl Marx’s thinking is a product of the l9th century. There have been great economic, political, and technological changes since then. How are his theories to be evaluated today? Are they perhaps obsolete and outdated?
Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them?
The text defines an economic system as, Dynamic efficiency measures, Which of the following legal forms of business organization provides for limited liability? Privatization in transition economies is often justified on the grounds of increasing
The average avoidable cost for a fringe firm is AAC(q) = 20/q + 5q . The marginal cost function for a fringe firm is MC = 10q . There are 10 fringe firms. The marginal cost of the dominant firm is 2 and the demand function is Q = 100 − P. What is the..
Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition? If so Why?
It is a typical Christmas electronics shopping season, and makers of flat-panel TVs are marketing the latest available models through their own Web sites as well as via retailers such as Best Buy and Walmart. Each manufacturer offers its own unique v..
Two hospitals want to merge. The price elasticity of demand is -0.20, and each clinic has fixed costs of $100,000. One clinic has a volume of 9,200, marginal costs of $70, and a market share of 3 percent. What are the total costs, revenues, and profi..
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