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Balance between the costs of automation
Businesses often decide between using automation and labor in production. An automotive environment may have high fixed costs and low variable costs, and an industry that utilizes manual labor for production will have low fixed costs and high variable costs. How would you describe the balance between the costs of automation, or fixed costs, and the costs of labor, or variable costs? How has technology changed the balance between automation and labor? What type of industry benefits the most from technological innovation?
Illustrate what are your preconceptions of economics. Do you think economics will be a relatively difficult course.
Credit cards are sometimes discussed as a public problem. In 2001, purchases on credit cards accounted for 21% of consumer spending in America, which has the lowest savings rate of any big country.
Illustrate what were some of the major contributing factors and how did they combine to cause the recession. How were you affected by it.
Robin and Terry are Stranded on a deserted island and consume two products, coconuts and fish. In a day, Robin can catch 2 fishes or gather 8 coconuts, and Terry can catch 1 fish or gather 1 coconut.
Illustrate what happens to bicycle supply. What happens to bicycle demand.
The best Leisure John may get in a week is 168 hrs. Other than that how many hours a week John works, he gets a $200 allowance from his father.
Elucidate the impact of inflation on salary rates and employment.
Explain how would you estimate additional dollar cost of adding sales people? How is the expected net revenue generated by adding.
The law of comparative advantage recommends that countries specialize in those products in which they have a comparative advantage, not an absolute advantage.
Please provide the reference info. for the articles found so that I can read and understand the issues.
Suppose the issues of where, when, and elucidate how to be considered by an organisation planning an international entry strategy.
Consider the Figure below that represents a perfectly competitive firm
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