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Q. 1. Small mistakes are stepping stones to large failures. How might this saying apply to this lesson and do you agree? In your responses, provide an example of a seemingly small mistake with large consequences. 3. Why is knowing (or estimating) product demand so crucial for a firm? In your response, include an example of a business that has suffered from poorly estimating demand of its products. Evaluate how or why business made such a mistake.
2. Honda uses flexible plants in manufacturing of its cars. Discuss where this method of production results in optimum output.
3. Discuss where economies of scale have any relevance to such companies as Wal-Mart.
4. In hope of high returns, venture capitalists provide funds to finance new (start up) companies. However, potential competitors and structures of market into which new firm enters are extremely important in realization of profits. Among different market structures, which one do you believe provides highest possible return for a new company and why?
We have spent so much on our present office that we cannot afford to waste this money by moving now." Estimate the second partner's advice not to move downtown.
Firm x develops a new product and gets a head start in its production. Other firms try to produce a similar product but discovers they have higher average total cost than the existing firm. This situation illustrates what
Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.
Illustrate what are the advantages and disadvantages of having monetary policy in the hands of the Federal Reserve System rather than in the legislative or executive branches.
disregard the portion of the supply curve that corresponds to prices where there is no output.
If the real wage can adjust to equilibrate labor supply and labor demmand, what is the real wage. In this equilibrium, illustrate what are employment, output, and the total amount earned by workers.
If Jason produces 250 kilograms of food per month, Explain how more liquor must he produce to achieve production efficiency.
Assuming which the budget stays the same except for the interest on the debt for 10 yrs which will be accumulated debt
If the taxes are set so that each resident shares the cost evenly (a=b=c), how so many paths will get built.
Illustrate types of government programs would be most effective in combating each type of unemployment.
Using the net benefit ratio method of Deaton, please tell us whether a 10% increase in output price will increase or decrease the economic welfare of each of the following three agricultural households, by how much, and why (be sure to show your w..
Illustrate the effect of increasing Government spending on all the macro-economic variables assuming a horizontal AS curve.
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