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Simon recounts the results of cognitive psychology research into human expertise and relates it to organizational learning. The findings for a world-class expert include which factors?
a. The expert holds in memory somewhere around 50,000 "chunks" of relevant information
b. No one becomes a world class expert without 10 years of dedication to learning and acquiring the 50,000 or so "chunks"
c. The information is held in memory in a sort of indexed encyclopedia called a production system which can retrieve relevant chunks based on cues
d. All of the above are included
wyandotte chemical company sells a variety of chemicals to the automobile company. wyandotte currently sells 30000
Why may the effective patent life of a drug be shorter than the legal life. Explain why may the effective patent life of a drug be longer than the legal life.
What is the average time period for the introduction of a new drug into market? One act passed by the federal government aimed at reducing the monopoly power of patented drugs was. Which drug is likely to be the most profitable for its producer (in t..
Evaluate competitive advantage potential of cross-business strategic fits among the various business units. Check whether firm's resources fit requirements of its present businesses.
Suppose a decrease in supply raises the price from 4.00 to 5.50 and decreases quantity demanded from 2,000 to 1,500. Using midpoint method find elasticity of demand.
A monopolistically competitive firm is operating in the short run, is operating at the optimal level of output, and is earning positive economic profits. Describe how this industry will adjust in the long run.
Consider a market with two goods, x and z that has the following utility function. What is the marginal rate of substitution. Calculate the decomposition bundle associated with price change. Calculate the income effect, substitution effect and total ..
Why are trade agreements important for the various countries involved? How is international trade related to the U.S. standard of living as opposed to the standard of living of a small industrial nation or a developing nation
Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Max’s Income is $11. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max’s demand for both goods double?
Provide reasoning for why highly inflated countries tend to have weak home currencies. Identify the inflation rate of your home country and some well-known foreign country. Then identify the percentage change of your home currency with respect to tha..
Pick the last 2 business cycles as identified by the National Bureau of Economic Research. Describe the behavior of the components of aggregate demand during each of these cycles.
The multiplier, or the change in equilibrium GDP that will occur per any change in spending, can be determined by calculating the fraction of any change in income that survives all of the leakages and goes on to start the next round of spending.
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