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Consider two occupations (A and B) that employ people with the same skills and abilities. When employed, workers in the two occupations work the same number of hours per day. In occupation A, employment is stable throughout the year, while employment in B is characterized by seasonal layoffs. In which occupation will the hourly wage rate be highest? Why? In which occupation will the annual wage be highest? Why?
State the Law of Supply. Why do the supply curve slopes upward? State the Law of Demand. Why do the demand curve slopes downward? Explain why normal profit is an implicit cost (i.e., subtracted from accounting profits) in our definitionof economic tr..
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Thirty years ago, the market for chicken was perfectly competitive. Then, Frank Perdue started marketing chicken under his own name.
Two niches in the market for electronic sensors,
Why is it important for managers to understand the mechanics of supply and demand both in the short run and in the long run What are some examples of companies whose business was either helped or hurt by changes in supply or demand in the markets
Many home improvement retailers like Home Depot and Lowes have low-price guarantee policies. At a minimum, these guarantees promise to match a rival's price, and some promise to beat the lowest advertised price
Mention two economic choices you had to make with in last week. Alfred Marshall said in 1890s, "economics is the study of man in ordinary business of life." You must examine one or two of these choices in terms of alternatives you gave up.
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its product into basic and ultimate Vista editions
Your company, EconCo, has just been hired by a foreign company that is trying to open a new manufacturing plant in the United States. Because of the overload in work by the staff,
Is the publishing house making the optimal input choice? Why or Why not? If not, how should the manager of Largo Publishing House adjust input usage?
What is the main research question(s) asked by the paper? Why should we care about this question? How does it t into the literature in economics of history?
Many states provide firms with an "investment tax credit" that effectively reduces the price of capital. In theory, these credits are designed to stimulate new investment and thus create jobs. Critics have argued that if there are strong factor
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