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Taking into account everything you learned in Chapter 2, describe the best and most ethical way to solve the following problem. Tell me why you believe your answer is best. Then describe any problems or issues you can think of with your own solution to this problem. Your answer should be at least 3 - 4 paragraphs. Spelling, grammar and punctuation count. Also, make sure to reference the concepts from the textbook. In other words, I'm not just looking for your opinion.
Problem (based on my actual experience):
Your company has just been merged with a competitor, and you have been given a promotion so that you now have approximately 40 employees reporting to you. You know some of these employees, but not all because some of them came from the other company. You now have to lay off 10 of the 40 employees. Some of the employess have been in their jobs for over 20 years, and some are relatively new. In the last few years, your company made a concerted effort to improve its minority hiring, so many of the new employees are minorities. How should you decide who to lay off?
Illustrate what evidence does GI present to support the view that Canada had entered a recession
The banks hold no excess reserves, Illustrate what will happen to the total money supply. How did you reach your answer.
What will happen to the price and quantity? What will happen to the amount that domestic producers supply? What will happen to revenues of domestic and foreign producers?
Joy Land Toys, a toy manufacturer, is experiencing quality problems on its assembly line. How many inspectors should the firm hire?
Illustrate would be the effect on D' of decreasing the variable cost per unit by 25% if the fixed costs thereby increased by 10%.
Compare social welfare under the bribe with social welfare in the case where the police officer always abides by the law.
If 7,218 of the Ahmadi cell phones were priced at least $119.00, how many cell phones were produced by Ahmadi, Inc.?
Discuss contributions of competing and dominant school of thought to evolution of labour economics; mention paradigm differences and distinctions between old labour economics and new labour economics.
Textile Workers of America is planning to strike for higher wages. Management predicts that if strike is successful, cost of labour will increase $100 per day. If strike is successful, how would this affect decision in part a to purchase a textile..
You find that the car requires repairs of 1,200 dollars in order to get it to run. Once it is repaired, it will definitely not break down again. Assuming that the car is worth 3,500 dollars after repairs, should you get it fixed.
Elucidate how does N the number of firms in the market, affect each firms Demand curve. Explain why.
Rise in the price reduce the quantity demanded, assuming price elasticity remains constant along the demand curve.
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