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Amazon's "autobot" recently recommended a book to one of us titled Quality Maintenance: Zero Defects through Equipment Management. The book's description is "Achieve zero-defect product quality by eliminating the root causes of your equipment defects. An easy-to-read case study of TPM, TQC, and JIT at a world-class manufacturing plant." Without reading this book, we know that its advice is wrong. How do we know?
A university has 2 input variables, professors and staff. When it recently hired a new professor, the number of students increased by 3 per day. Then it added a new staff, and the number of students per day increased by 2. Professors cost $300,0..
Matt is a 25 year old engineer, and his salary next year will be $60,000. Matt expects that his salary will increase at a steady rate of 5% per year until his retirement at age 65. If he saves 10% of his salary each year and invest these savings a..
Apply the coefficient-of-variation decision criterion to these alternatives to find out which is preferred by the angel investor, assuming that he/she is risk-averse. b) Apply the maximin criterion, assuming that the worst outcome in Business 1 ..
From this information, can you devise a general rule explaining how the Herfindahl-Hirschman index is affected when exactly two firms in the market merge? (Hint: compare a2 + b2 with (a + b) 2)
Assume you are an economic consultant for a big company that produces and sells lollipops that are shaped like the faces of Hollywood celebrities.
The manager of a corporate division faces possibility of an audit each year. She prefers to spend time preparing if she will be audited;
Describe an adverse selection problem your company is facing. What is the source of the asymmetric information. Who is the less informed party. What transactions are not being consummated as a result of the information. Could you (or do you) u..
Could a labor union or a minimum wage law efficiently help to increase wages, rise employment, or improve working situations in a company
Compute and contrast the way Keynes and Friedman approach the economy. What are the key differences and similarities.
Illustrate what do these indicators suggest about the future prospects of Walmart.
Illustrate what are some advantages of a unionized organization. What are some disadvantages.
Explain the tools used to pursue expansionary and contractionary fiscal policy. During which phases of the business cycle would each be appropriate Explain what is meant by a built-in stabilizer and give two examples
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