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DQ #1: What would be a situation in your personal or professional life in which you use or could use marginal analysis to make a decision? How do you determine the marginal benefit and marginal cost of the decision? You should illustrate your answer with a numerical example. Why do economists believe that managers should use marginal analysis to make optimal business decisions?
DQ #2: What is more important to a manager Marginal Revenue or Marginal Profit? Provide examples. What Shutdown Rule means for a business entity? Should managers opt for a shutdown decision if the company is selling below its Fixed Costs? Explain your statement.
To preserve capital in a declining stock market, a portfolio manager should:
Dewar (2010) indicates that the field of economics can provide a structure to examine “the implications of individual decision making and help define the alternative mechanisms to improve resource allocation” (p. 9), but it cannot be used as a soluti..
Consider the following game: Joanna has a credit card account with Capital One. Capital One’s available strategies are to raise Joanna’s credit card interest rate or do nothing. Joanna’s available strategies are to transfer her Capital One credit car..
If we accept Marx's labour theory of value, we run into a different problem: if a working day of 8 hours creates same amount of value in a highly mechanized industry as in an industry with few machines, why do capitalists introduce machines.
Chemical process that converts hydrogen and oxygen into electricity and waste heat Oxygen from atmosphere, hydrogen from gas, solid hydrogen storage, or from hydrocarbon fuel Produce few emissions. How do we pick best energy alternative.
How might you construct a measure of the change in the price level. Illustrate what additional information might you need to construct your measure.
Assess how different economic environments, such as boom and bustcycles, affect markets both individually and collectively. In other words, consider how economic growth or scarcity affects individual markets and how the economic environment for one m..
Short run refers to a period of time during which:
(Population growth and technology growth) Consider an economy that is described by the production function Y= K^1/2 (LE)^1/ 2. Moreover the depreciation rate of capital is (delta) o = 0.15, the population growth rate is n = 0.05 and the technology gr..
Demand-pull inflation occurs when:
A unique aspect of a market economy is that consumers and firms change their behavior largely in response to:
Illustrate what is the marginal revenue from selling another book for the author. Explain how does it compare to the marginal revenue
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