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Assume the price fluctuations observed resulted exclusively from changes in demand. Would the observed price changes have been greater or less if the gold supply had been elastic rather than inelastic?
What are the main advantages and disadvantages of the ethnocentric, polycentric, region-centric, and geocentric approaches to staffing policy? When is each approach appropriate? Be sure to relate the different global staffing approaches to strategy. ..
Suppose there is a market for hotdogs in equilibrium. Draw a diagram below of such a market. Now, suppose that the price of hamburgers suddenly falls sharply, making it easier and more enticing for consumers to purchase hamburgers than before. Show o..
Given the importance of the M-Pesa to the rising economic growth of the Kenyan economy, what should Safaricom do about the Kenyan government’s announcement of a new 10% tax on financial transactions? For this question assume that transactions are bet..
A construction site uses two types of workers – skilled (S) and unskilled (U). They produce feet of new pavement (Q) per day according to the production function. How many skilled and unskilled workers should be hired in order to produce the most pa..
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,440,000, $148,000 in the common stock account and $2,730,000 in the additional paid-in surplus account. What was the firm’s cash flow to stockholders during 2014? What ..
A firm uses steel and aluminum to produce auto parts. The current input mix used by the firm is such that the marginal product of aluminum is equal to 800 units, while the marginal product of steel is equal to 500 units. Please explain in words what ..
q. in recent years many plants have closed forcing thousands of employees out of their jobs as well as into new ones.
Consider a country, called Home, with one domestic rm competing with n foreign rms. Write the prot functions for one domestic and for one foreign rm. If all these rms compete in quantity (Cournot competition), derive the equilibrium quantity produced..
Give an example of useful Chi-Square Goodness-of-Fit Test. What problems might there be in getting the data for the test? How would you deal with the problems?
Janet Gilbert is director of a lab. She has some extra capacity and has contracted with some small neighboring hospitals to run some of their lab tests. She has recently had a study conducted and has determined that her costs for these contracts are ..
Discuss using an example what are public goods and why does it lead to a free rider problem. Why is fishing in the ocean, where there are no well-defined property rights, a concern regarding our ability to ensure sustainable use of our fishing stock?..
If the utility function shows declining marginal utility of income for an individual, the individual must be a : a)risk-neutral person b) risk-taker c) risk-averse person
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