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Q1. Illustrate the way in which market forces shape the organizational responses using a range of examples
Q2. Jerome moonlights: he holds down two jobs. The higher paying job pays w, but he can work at most eight hours. The other job pays w*, but he can work as many hours as he wants. Show how Jerome determines how many hours to work.
Q3. What is the meaning of tit-for-tat in game theory? What conditions are usually required for tit-for-tat strategy to be the best strategy?
Q4. Ace hardware sells 1000 hammers per day. They have a fixed cost of 5000 and a variable cost of 15,000. What would be the average fixed cost, average variable cost, and average total cost?
Assume that we care about the average welfare of individuals in Indian villages, i.e., we put equal weight on each individual's utility.
What is the equation for the AS curve. What restrictions on the parameters do we need to ensure that AS curve has a positive and nite slope.
Distinguish between the resources market and the product market in the circular flow model.
Given a binomial random variable with n = 60 and p = 0.36 find the probability of obtaining between 25 and 35 successes inclusive, to three decimal places.
Describe the Schumpeterian notion of "creative destruction"
Assume that during the last month of the tenth year of ownership, the property in Problem 2 is sold for 1,500,000. Assume also that the seller incurs transaction costs equalling 6 % of the sales price.
The type of manuscript for this book was typed for free by a friend. Had I hired a secretary to do the same job.
Susie's boss offers her $100 to come to work instead. In considering what to do, which of the above would be considered a sunk cost.
School tries to discourage Twinkie consumption by raising the price to $.40, by how much will Matt's mother have to increase his lunch allowance to provide him.
Budget line showing the various combinations of scores on the two exams that she can achieve with a total of 400 minutes of studying.
he perfectly competitive form maximizes profits by producing 10 units of output. At what price does it sell these units.
Sets out the aggregate demand and aggregate supply schedules in Japan. Potential GDP is 600 trillion yen. What is the short-run macroeconomic equilibrium.
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