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At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statement correct? If so, why? If not, explain why not.
the set of efficient trades these individuals would rationally make. One of the points on the set of efficient trades you illustrated in your diagram will be a competitive equilibrium.
Illustrate what is the cost of producing 10 units in the short run? First conclude how much labor is needed.
Suppose that all the necessary conditions exist for the realization of equal wage rates in every market of labor.
Illustrate what is the equilibrium price of tickets to the event. Calculate the price elasticity of demand at the equilibrium price.
Discuss a decision made by your chosen company that involved costs that should have been ignored. why did the company include these costs in their decision process.
At the same time some internet trades such as grocery home deliveries have continually suffered steep losses regardless of scale.
How many workers should the firm hire if the price of the output is $10? Suppose the price of the output falls to $7.50. Illustrate what do you think would be the short-run impact on the firmâ??s production.
Ben bakes bread and Shawna knits sweaters. Ben and Shawna both like to eat bread and wear sweaters. In which of the following cases is it impossible for both Ben and Shawna to benefit from trade.
Suppose one insurance company decided to charge teenagers and adults the same premium based in the average risk of an accident among both groups.
Elucidate how do the ratios Px*X/I also Py*Y/I change as income increases in this problem.
When would it make sense for a factory that is losing money to remain in operation
Illustrate what recieves goverment subsides that are in place to protect the population rather than for economic reasons.
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