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Some people (e.g., Hayek) argue that decentralization of economic decisions in the economy leads to an efficient resource allocation. What differences exist within the firm that make the link between de- centralization and efficiency less clear?
What are some obstacles your firm might face with production in another country - What impact would that have on your firm?
Which of the following statements is correct about the optimal time of tree harvest problem?
Variable-Margin Pricing If Ohio Desk Inc. sold mahogany desks at a 3% profit, steel managers desks at a 11% profit, and student desks at a 16% profit, (all at variable-margins), what would their overall profit be for the entire product line of desks?
illustrate what can you determine about the market for wheat.
Classify the following goods by category (private, public, common, monopoly) and explain why:
Firm A produces cement sifters. The process includes the melting of metals and chemicals which give the sifters strength. In the production process, waste is produced and released into the river that runs alongside of the plant. ome states allow stud..
“I’ve come to the end of my patience with Roberta Weston,” said accounting manager Sam Best. “The position she’s in is so important to us that we simply can’t afford any more of her omissions or mistakes. Describe the ways in which the employee might..
Tom was a tall man who operated a successful restaurant that he owned. He believed that tall people commanded more respect in a restaurant. Accordingly, he never hired a waiter or waitress who was less than six feet tall. After a few inquiries, she l..
Complete the following. Include your references using APA formatting. Write the definition for each of the following: 1. Law of Demand 2. Law of Supply 3. Price Elasticity of Demand 4. Macroeconomics 5. Microeconomics Identify 2 Products whose demand..
Is there a difference between the moral hazard and principal-agent problems? If yes, explain the dif- ferences and give an example of a situation where one of them exists without the other. If there is no difference, argue this is one and the same pr..
Economists sometimes say that monopoly is "inefficient". Explain the meaning of "inefficiency" in this context. Show analytically how this inefficiency comes about. Under what conditions will such inefficiency tend to be greater? Under what condition..
In the early 1980's President Reagan and Prime Minister Margaret Thatcher promoted neoliberal ideas to unleash new investments and economic growth. What was the basis of many of these policies and how well does it work today?
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