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A magazine, in an article dealing with management, wrote, "When he took over the furniture factory three years ago ... [the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap. Within a few weeks, he set up a task force of managers and workers to deal with the problem. And within a few months, they reduced the amount of scrap to $7,000 worth [per year]." Was this necessarily an economically efficient move? Explain your answer.
Explain why lean manufacturing requires a stable demand environment. Describe how success to successful system archetype works. What should be done about it.
Can we say that the plant in country b is more efficient than the plant in country A? Discuss in terms of both technology and economic efficiency.
In 2020, Ahmed decides to invest in a wind turbine that would produce and sell electricity to the local electric utility. He decides to buy a smaller, used turbine.
Discuss what a manufacturer of each product might do in the short run to increase production. Illustrate how does the long run differ for these products.
Which nation has comparative advantage in wheat production? In cotton production. Which nation has absolute advantage in wheat production.
elucidate only the effect of recession on the country. Due to floods a country suffered from recession but gradual triggered growth in the manufacturing sector in the following years.
Given the following annual information about a hypothetical country, answer questions a through d
if the demand for labor is elastic because the demand for labor will decrease more when you have elastic demand than if demand were inelastic.
Assume that the central bank takes the drastic strategy in part 1, but that the private sector has rational expectations.
If the government wanted to achieve the same change in GDP as in part 8 by cutting taxes instead of increasing spending, how large would the tax cut need to be.
Would the sales of pollution rights or certificates be an efficient means of allocating a given amount of pollution.
Will there be significant progress on the poverty front, because of an increase in GDP.
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