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In 1914, Ford Motor Company doubled its wage to $5 per day, a rate that was considerably above the average wage at that time.
a. In terms of efficiency wages, explain why Ford would have had an incentive to do this.
b. What data would you look for to determine whether Ford’s wage increase was successful in achieving its goals?
In what kind of market do you think your franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics which make it this type of firm?
In which type of handling system is labor cost generally the highest percentage? mechanized semiautomated automated information-directed
Graph the demand and marginal cost curves and calculate and indicate on the graph the equilibrium price and quantity
What are the three main questions that all economic system must answer? Who answers them under a communist system? A socialist system? A capital system?
A firm has a long-run cost function, C(q) = 4q^2 + 4. In the long run, this firm will supply a positive amount of output, as long as the price is greater than what?
Display a diagram in (c1,c2) space that indicates the cost combinations for which firm 2 will choose not to compete. Interpret the equation describing the boundary between the regions where firm 2 does and does not compete.
Compare the two graphs for GNP for Techistan and Growthistan. What is the difference in the final value of GNP for each country and Plot the growth rate for Techistan and Growthistan on one plot.
The company pays a $2 annual cash dividend. After a year has passed the seller cover a short position of $42. Then what is the percentage return on the position?
Express PV, where P is pressure and V is volume, in terms of the base SI units: the kilogram, meter, and second. Express your answer in terms of the abbreviations (kg, m, s). Compare this answer to the previous one. What do you notice?
Southcoast Oil's fixed costs are $2,500,000 and its debt repayment requirements are $1,000,000. Selling price per barrel of oil is $18 and variable costs per barrel are $10.
It is common knowledge that governments all over the world are involved in providing education for their citizens. To gauge the effectiveness of public education,
Can you draw well-functioning preferences (i.e., they follow our assumptions about preferences) such that X is a normal good and Y is a substitute for X and draw the demand curve and indicate the portions that are elastic, inelastic, and unitary el..
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