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1. Explain the concept of Management. Review In brief the main functions of management.
2. What is planning? State what advantage planning confers to the organization. How will you classify the levels of management in an
3. organization? Describe the functions performed by different levels of management
Home’s demand curve for widgets is D = 5000-20P, where D is quantity demanded and P is the competitive price. Home’s competitive supply curve is given by MC = 100 + S/10, where S is quantity-supplied. In a competitive market, P = MC. Calculate the ef..
What effect, if any, would each of the following have on the short-run average (ATC, AFC, AVC) and marginal costs of an auto dealership:
Why Model Something That Does Not Exist? The purely competitive firm does not exist in the real world anymore having disappeared in the USA by the early 1930's at the latest. The question is: so why do we model it in almost every textbook in Economic..
Provide some evidence (data) of success and some evidence of failure of our national sustainability public policy (use food, or water, or air
Compare private sector financial accounting with accounting for government and not-for-profit organizations.
What is the value of the world net loss from the cartel (deadweight loss)? Instead of maximizing profit, the cartel wants to maximize revenue or market share, at what price should it sell its product?
VetPharm has historically produced and sold drugs for animals; however, one of its products developed for animal use has recently been approved for a similar use in humans. The current price is $5.00 per dose for all customers. Market research has re..
Despite this finding, the government mandates that new cars have air bags, rather than taxing their use. Is this policy a contradiction.
Evaluate why only the convexity of preference relation cannot guarantee that the indifference curve is strictly convex to the origin.
If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits. When economic profit is positive,
Movie attendance dropped 8 percent as tickets prices rose a little more than 5 percent. What is the price elasticity of demand for movie tickets? Could price elasticity be somewhat overestimated from these figures? That is, could other things have ch..
Suppose that in a perfetly competitive market, the demand curve is given by P=100-Q, the supply curve is given by P=Q, and that the social demand curve is given by P=80-Q. In a single graph, represent the demand curve, as well as the supply and socia..
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