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Select 5-innovations associated with Industrial Revolution and five innovations from Technological Revolution. For each innovation, recognize the effects it had on individuals, societies, businesses, and politics.
The Apollo Products Company currently collects all of its customer payments in Detroit. By going to a new lock box system with boxes in Los Angeles, Boston, and Atlanta, Apollo Products can reduce the total time it takes to convert customer paymen..
Discuss why the number of children that a family has may differ in an Industrial Society and a Third World Agrarian Society.
The long run supply curve for a particular type of kitchen knife is horizontal line at a price of dolla three per knife. The demand curve for such a kitchen knife is
Compute the expected market price. Show calculations please. How many units should you produce to maximize expected profits? What is your expected profit or loss? Again, show work.
A fashion firm manufactures outfits using two inputs, design skills (L) and expensive materials (M). The cost of fabrication is small and might be ignored as a first approximation.
Explain the output and price effects which affect the profit-maximizing decision faced by the firm in oligopoly market. How does this differ from output and price effects in monopoly market?
In economics, when you plot cost and revenue on Price-Quantity axis, the profit maximization condition is when marginal cost is equal to marginal revenue. This is the crucial notion to understand.
The current economic downturn has been called a housing disaster, a financial disaster and a debt crisis, but the simplifying logic of the political season has settled on what is really more a result than a cause.
The president of your corporation, Mr. daily, has asked you to make a report describing the many forms of market structure. He describe to you that the report will be handed out to staff prior to the staff meeting next week
Third National Bank is fully loaned up with reserves of $20,000 and demand deposits is similar to $100,000. The reserve ratio is 20 percent.
Using the principles of supply and demand, develop a plan to alleviate the shortage of Math and Science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium.
Crew Brew produces a popular brand of beer in its mini-brewery located on a small river in Kentucky. Assume that capital can be purchased for $8 per unit, and labor costs $6 per unit. What is the optimal combination of inputs for the firm to employ..
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