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Assume that a monopolist decides to maximize revenue instead of profit. How does this operating objective change the size of the deadweight loss? If you are a "benevolent" manager of a monopoly firm and are interested in reducing the deadweight loss of monopoly, should you maximize profits or maximize revenue?
Describe why the general level of wages in high in US and other industrially advanced countries. Determine the single most important factor underlying the long run increase in average real wage rates in the US
What would anything change if unemployment benefits were reduced such that the y-intercept of the MC curve increased four-fold. Show graphically.
Compute the optimal bundles of consumption. The total use of each good is independent of the rate of consumption of the other good.
Illustrate which national financial policy programs are best for addressing the problems in the U.S. economy
With a U.S. marginal propensity to consume, assumed at 1/2, what will happen to the following with the neoclassical model of national income if the Bush Tax Cuts expired
Refer to the above data. If the product price is $60, at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations. Refer to the above data. If t..
Elucidate the macroeconomic and microeconomic concepts and how they relate to the management of a global organization.
Assume your firm manufactures 3 million hard drives per year specifically for Dell laptop computers and subsequently renegotiates to only purchase for $26.8/unit, how much has Dell increased its own profits
At some universities and colleges, economics professors earn hugh salaries than professors in some other fields.
A potential control for managing risk of employee fraud is to send employees on mandatory vacations. Describe the relation of that control with payroll function.
Elucidate implicit assumptions would an researcher make regarding price elasticity of a magazine.
Write down the effect on the real wage and hours worked in the short run.
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