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1. The Jung Company includes a premium in each box of its cereal. For four premiums plus $2.00, customers are entitled to a plastic doll that costs Jung $4.50 each. Jung expects 60% of the premiums to be redeemed. In 2010, Jung sold 500,000 boxes of cereal and distributed 25,000 dolls. What is Jung's premium expense for 2010?
1.Can taxes be used to relieve poverty?
Production does not stop during weekends. If the explicit costs total $150,000 for 30 days, the firm's accounting profit for the month equals what?
Let W1 and W2 be subspace of a finite dimensional vector space. Prove that dim(W1 + W2) % min{dim(W1), dim(W2)} and dim(W1 + W2) % ¥ max{dim(W1), dim(W2)}.
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
The Herschel Candy Corporation produces a single product, a chocolate almond bar that sells for $.40 each bar. The variable expenses for each bar total $.25.
Wyandotte Chemical Corporation sells many chemicals to automobile industry. Wyandotte currently sells 30,000 gallons of polyol per year at an average price of $15 per gallon.
What is the quantity demanded at each price and calculating the coefficient of elasticity, is demand over this range elastic or inelastic? How do you know?
Discuss how Big Steel should use the information on the supply of steel by other, smaller competitors when it determines its profit maximizing price.
Show the game in strategic form using hypothetical payoffs of your choice. Use the arrow technique to identify the equilibria.
Test whether coefficients of capital and labor are statistically significant and what are the labor production elasticity and the capital production elasticity from the regression output.
Which of the following is NOT an example of an externality? Explain why the other examples are externalities and why the one you selected is not.
Describe the evolution of the virtual organization. What are the pros and cons associated with this design? Provide examples of three technological devices/concepts that have had the greatest impact on virtual organizations.
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