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The HRB Corporation is the world's only manufacturer of air filters for Zamboni engines. Last year, HRB charged $20 per filter and sold 1 million of them, and it paid all of its production workers $10 per hour. This year, something happened at HRB headquarters (not announced to the public) that caused HRB to lower its price to $18 per filter. (HRB is still a profit-maximizing company.) This enabled HRB to sell 1.2 million filters. Its workers all continue to earn $10 per hour. What is the elasticity of demand for Zamboni air filters? How much additional revenue does HRB earn if it sells one more air filter this year? How much additional revenue would HRB have earned if it sold one more air filter last year? How much are HRB's employees paid relative to the value they create? (That is, what is the ratio of the wage to the value of the worker's marginal product (price x MPL)?) What was the workers' marginal product last year? What is it this year? Suppose you are considering only two explanations for the increase in HRB's output: (1) HRB invested in better equipment and kept the same number of workers, or (2) HRB hired more workers to use its existing equipment. Given your observations above, which makes more sense? Why?
You will write a short 350-500-word report on this issue and post it on the discussion board during your assigned week. You should include two discussion questions at the end for your classmates.
problem 1in spite of resistance by certain members states to full political union the european union is a de facto
The US government has two different methods to deal with illegal drug use. First, the government has tried a "war on drugs", with the idea of keeping illegal drugs out of the country. Second, the "just say no" campaign has been used to make indivi..
The firm you work for is expanding its business and would like to start to trade with another nation.
If we do engage in foreign trade, should we bound foreign trade to country's that engage in fair trade throgh giving us access to domestic markets and reciprocal import tariff decrease that mirror our tarriff reductions on our imports from them?
Decko Corporation is a United State firm with a Chinese subsidiary that produces cell phones in China and sells them in Japan. This subsidiary pays its wages and its rent in Chinese yuan,
A company that produces T-shirts and sells its items in a perfectly competitive market. The manager forecasts the wholesale value of T-shirts next year to be $7.00.
When China's clothing industry expands, the increase in world supply lowers the world price of clothing. a) Draw an appropriate diagram to analyze how this change in price affects consumer surplus.
A monopolist with two plants operates with a marginal revenue of 500-4Q and marginal expenses of 4Q for plant one and 2Q for plant 2.
Consider the following data, and answer the questions given below. China and England are international trade partners. The following data are expected payoffs for two nations.
According to Jeffrey Sachs, Determine what kinds of development assistance can make a difference in Africa, and what role does he anticipate for the developed world?
Sometimes when the citrus crop freezes in California or Flordia, the media report that even though there are fewer fruit available for consumers, "the total value of the crop has increased," or words to that effect.
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