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Does the marginal product of labor measure how output changes as wage rate changes, or is it the average product of labor divided through the quantity of capital stock and can it be negative or is it any two of the above? If so which ones? If a company is using a single variable input (labor) and a given amount of a single fixed input (capital) and the level of capital decreases will the total product curve of labor, Average product of labor, or marginal product of labor shift downward or all of the above or none of the above? Also, if a company increases its usage of all inputs by 100% and output increases by less than 100%, is the company's production function exhibiting a decreasing returns to scale, diminishing marginal returns, decreasing marginal rate of technical substitution or any two of the mentioned? If so, which ones?
Today's Friday night, and you are just about to leave your room to attend a party. However, a copy of New York Times catches your eye.
Determine what is Risky Behavior Amoung Youths in Behavioral Economics and explain how does it affect the economy?
Define and explain the terms decision management and decision control. Under what situations might it be optimal to make one individual responsible for both decision management and decision control?
Coca-Cola and PepsiCo are leading competitors in market for cola products. In 1960 Coca-Cola introduced Sprite, which today is the worldwide leader in lemon lime soft drink market and ranks fourth among all soft drinks worldwide.
A 3*9 FRA has an agreement rate of 4.75 percent. You believe 6M libor in 3M will be 5.125 percent. You decide to take a speculative position in a FRA with a $1,000,000 notional value
Estimate the coefficients of the demand model for the data given above. Provide an economic interpretation for each of the coefficients in the estimated demand equation you have compuated.
Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. Each barber is paid $9.90 every hour and works a forty hour week and a fifty week year,
List three characteristics of an economists, a scientist and thee characteristics of an economist as a policy adviser.
At several universities and colleges, business professors receive higher salaries than professors in others fields. Why might this be the case?
"A characteristic of oligopolistic market is that, once the general price level is established it tends to remain fixed for an extended period of time." Discuss the economic rationale underlying this phenomenon.
Pepsi manufactures Fritos and Lays potato chips in addition to its basic soft drink products. Discuss and explain potential ways that this business combination might increase value.
Dominant price leadership exists when one company drives others out of the market. The dominant company decides how much each of its competitors can sell.
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