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Q1-You are on the board of directors of a nonprofit art museum supported by donations from wealthy members of the community, and are responsible for acquiring new works and staging exhibitions for the public. You are clearly an agent, but who is (are) the principal(s)?
Q2- Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees? In many smaller cities all McDonald's outlets are owned by the same franchisee. Why is (or isn't) this fact consistent with our discussion of specific investments?
Compare the consumer surplus, producer surplus, and total surplus in this condition to those same measures in a perfectly competitive market.
Using budget lines and indifference curves, prove to your colleague that he is wrong - decompose the change in price into two components: pure substitution effect, and income effect.
Use demand and supply analysis to assist you, determine the effects on the exchange rate in British pound and the Japanese yen from
Demonstrate that under this analysis commodity movement and factor movement are substitutes for each other.
If the optimal number of facilities that minimizes the total logistical cost for a certain supply chain is five, what would be a logical justification for decision makers of this supply chain to build more than five facilities?
Calculate John's maximum daily profit and what is John's supply curve? Mathematically represent and then explain.
Assume you run a pizza store and currently have two workers. If you hire a third worker, your output of pizzas per day rises from 55 to 65.
Using the production function shown above, compute real GDP for each case and capital is constant but labour is increasing. What property of the production function is displayed? Explain.
Formulate a linear programming model for this problem and prepare the initial tableau if the problem is to be solved using simplex
A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450 and If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275.
Suppose the demand for computers. For each of the following, state effect on demand, find the equation of the demand curve if consumer incomes are $30,000,
If the dollar appreciated in real terms against the euro by 2 percent in a year, and in same year, inflation rates in the U.S. and the euro zone were 3 percent and 1 percent,
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