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It is fairly common for an industrial cluster to break up and for production to move to locations with lower wages when the technology of the industry is no longer rapidly improving-when it is no longer essential to have the absolutely most modern machinery, when the need for highly skilled workers has declined, and when being at the cutting edge of innovation conveys only a small advantage. Explain this tendency of industrial clusters to break up in terms of the theory of external economies.
A factory operates in a village and employs 200 workers. The workers are willing to work for any salary. The items produced by the factory are sometimes more demanded by consumers than at other times. For this reason, the demand for workers
When the colts won the super bowl the demand for peyton manning's jersey was: P = 210 - 0.002Q with a corresponding marginal revenue of: MR = 210 - 0.0004Q IF the marginal cost of producing a jersey is $10, how much are the trademark licensing rig..
Danson Iron Works, Inc. manufactures angular contact ball bearings for pumps that operate in harsh environments. If the company invested $2.4 million in a process that resulted in profits of $760,000 per year for 5 years
Which sectors of the economy have been affected by it most and if there is going to be any long-term economic impact resulting from it?
How Much Oversight? After the financial crisis in 2008, Congress wanted to have more oversight of the Fed and some suggested that the Government Accountability Office even audit the decisions of the Fed. What are the risks of this increased oversi..
At a product price of $ 40, how many units will this firm produce in the short-run b)At a product price of $ 50, how many units will this firm produce in the short-run c) At a product price of $ 60, how many units will this firm produce in the short..
5. The required reserve ratio (m) is 10%. Key Bank currently has: Reserves of $115 million, loans of $235 million, and demand deposits of $350 million.A. Illustrate a carefully labeled T-Account (balance sheet) for Key Bank.
Lube Job. Many gas stations and three specialty shops (Pennzoil, Jiffy Lube and Valvoline) do oil changes in Charleston, WV. You've probably been to one of these and know the productionmethod.
A consumer's budget set for two goods ( X and Y ) is 500 >2X +4Y a.Illustrate the budget set in a diagram.b.Does the budget set change if the prices of both goods double and theconsumer's income also doubles Explain.
Gary and Diane must prepare a presentation for their marketing class. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours to do the required calculation and 10 hours to..
A sample of 500 business professionals found that 30% chose an airline based on price. If the population proportion of all business professionals who select an airline based on price is .27 What is the probability
The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout.
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