Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Mark works for Maple Feel Inc., which exports maple syrup to Slovakia. Currently, he generates $60,000 a year of net revenues for the firm and his salary is $60,000 per year. Mark is planning to hire a teacher to learn some Slovak. His only cost would be the teacher's fee of $50 per hour. Mark expects that if he devotes H hours to the study of the Slovak language, his ability to generate sales in Slovakia will increase to $60,000 + $1,400H1/2 per year. Mark will retire after one more year of working.
(a) Suppose there are many similar companies trying to export goods to Slovakia and in each of them Mark's knowledge of the Slovak language would be equally useful as in Maple Feel. How many hours will he devote to learning Slovak?
Now suppose Maple Feel is the only company in which Mark's knowledge of Slovak could be useful and that Mark's bargaining power is such that he could negotiate a wage increase equal to 20% of the gains from his increased productivity.
(b) How many hours will Mark devote to learning Slovak if he bears all of the costs of his study?
(c) Suppose the company agrees to subsidize Mark's learning. How much of the $50 hourly fee will be paid by the company if they want Mark to study the efficient number of hours?
1. Suppose in a perfectly competitive industry the market demand and supply forces combine to produce a short-run equilibrium price of Rs 70. Suppose that a firm in this industry h
THEORY OF COMPARATIVE ADVANTAGE In his theory put forward in a book published in 1817, David Ricardo argued that what was needed for two countries to engage in international t
introduction, evaluation,principle, activities concept behind Gatt & wto
Advantages of Perfect Market It achieves, subject to certain conditions, an allocation of resources which is: socially optimal" or "economically efficient" or "pareto effi
explain perspective of managerial economics
Illustrate the application of economic theory to some business problems
Gains From International Trade The gains from International trade are to make the participating countries better of than they would have otherwise been. This will be the res
what kind of market structure is involved for the sale of medicines and vitamins? explain
Give some examples for marginal and incremental principle
OBJECTIVES OF CREDIT CONTROL The old objective of controlling credit creation by the commercial banks in the country was dictated by considerations of maintaining stability of
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd