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Comment on each of the following statements:
a. "Unions tie the hands of management and inhibit efficient decision making."
b. "Unions contribute to economic efficiency in that union wage pressure hastens the weeding out of the high-cost, least efficient producers in each industry."
c. "Although unions may reduce wage inequality, to the extent that they reduce wage differentials based on individual merit and effort, the outcome may be rightly perceived as both inequitable and inefficient."
d. "Unions impair the efficiency of our economy indirectly by diminishing profits and thereby reducing investment and economic expansion."
q.the equation of capital accumulation is k k i - deltak where k is the capital stock at the beginning of the year i
Elucidate the price elasticity of demand for NBA games after the ticket increase. Is demand elastic or inelastic. Is the increase a sound financial move. Why or why not.
What does the vertical distance between the horizontal axis and any point on a pure competitors demand curve measure.
Suppose a second firm enters the market. let Q1 be the output of the first firm and Q2 be the output of the second. What is the profits of each firm as functions of Q1 and Q2.
rite a four to five (4-5) page paper in which you: 1.Describe the business and explain the general pattern of change of the particular market model indicating how this change is likely to impact business operations.
Suppose that Jenny is the only consumer in the antique car market. Her willingness to pay for an antique car is $200,000. Based on Jenny's willingness to pay, plot demand schedule in the graph below utilizing the blue points.
If consumption and government purchases go up, what happens to GDP in the long run. Show this graphically.
Hair Grow Co. has a demand curve of P=101-.00002Q Marginal cost for producing Hair Grow pill is $1. Illustrate what is the profit-maximizing price and quantity. What is the profit.
q1. illustrate what is a random walk? explain how is halls random-walk model of consumption related to the life-cycle
A petroleum engineer estimates that the present production of 400,000 barrels of oil during this year from a group of 10 wells will decrease at the rate of 15% per year for years 2 through 10. Oil is estimated to be worth $25 per barrel. If the inter..
Can you explain the practice of scalping tickets for major sporting events in terms of market shortages? How else might tickets be distributed? If rent controls are so counterproductive, why do cities impose them? How else might the housing problems ..
Using the data provided above, determine if the Hernandez Corp. is using a cost minimizing combination of inputs. Explain your answer/show your work. If your answer is no, how should the input combination be adjusted?
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