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In the law of diminishing returns, we see increasing returns at the start of production, production then exhibits diminishing returns until it peaks, and then will exhibit negative returns if we attempt to push beyond that. Now, think about your work day - it could be a work day at your place of employment or a work day of school activities or a workday at home if you are a homemaker. Provide two examples of how your work day exhibits increasing returns, diminishing returns and then negative returns. Be sure to explain how all these different types of returns would happen.
Identify and briefly explain key macroeconomic issues that stand out as important to consider in business decisions.
A firm must decide whether to make a component part in-house or to contract it out to an independent supplier. Manufacturing the part requires a nonrecoverable investment in specialized assets. The most efficient suppliers are located in countries wi..
How did Neoclassical economists rationalize a policy of laissez faire with respect to the potential intervention into a market economy by government? Why do modern economists, on the other hand, acknowledge a role for government? Pareto’s definition..
Entrepreneurship has become the new way of doing business in our world. With economies in decline and organizations downsizing and the lack of opportunities that satisfy, entrepreneurship has been born.
Some recently visited popular priced comparison sites. Why might these retailers offer different prices to those who have and have not recently visited price comparison sites? If different prices are offered, which group will be offered the lower pri..
Ten equal annual deposits, $A, are followed by 5 annual withdrawals. The first withdrawal of $12,000 is made at the end of year 11 and each subsequent withdrawal increases at the rate of 8% per year over the previous year’s withdrawal. Which of the f..
In 1998, Coca-Cola held a contest inviting high-school students to devise promotional ideas for the company. A prize of $500 would go to the school with the best PR strategy. What would happen if Mike sued for violation of his First Amendment rights?
Jerry's demand curv for offic visits is Quantity = 30 - Price or Willingness to pay for the Nth visit=30-Nth Visit. Jerry has an insurance policy with a deductible of $100, a stop loss of $200, and a coinsurance rate of 50%. Suppose all doctors charg..
Has the United States become more or less economically free during the past decade? What impact will this have on the future economic growth of the United States.
elling price of another product Y in dollars per unit. The inverse delivery curve. Conclude whether X also Y are substitutes or complements.
What are the equilibrium price and quantity. If demand increases to D', what are the new equilibrium price and quantity. What happens if the government does not allow the price to change when demand increase.
The Federal Reserve chooses how much banks lend. The Federal Reserve serves as a lender of last resort. The federal reserve loans money to banks.
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