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1. When thinking about the theory of the firm, shirking, and principle-agent problems, we can find analogous situations in our personal lives. Make a Power Point presentation (for sharing with the class) two personal situations to illuminate this concept. For example, how does your mom get you to do chores? Or how do you control for shirking by those group members with lower GPAs, who have less to lose from poor individual performance?
2. Find a newspaper or magazine article that highlights a perfectly competitive situation. Write a 1-page paper on the economic performance of this market in terms of efficiency, costs, and profit.
3. Applying the 21 Synectics Steps
Assignment: Select one problem from the following list -or- define your own problem.
Design new clothes for soldier/teacher/cook/student/etc. Invent a new way to protect computers from viruses.
Discuss and indicate the importance of the major components of population growth from 1800 to the present. Give socio-economic explanations for the major changes in each component.
1.Government policymakers may be elected politicians or appointed experts. Describe some of the specific decisions made by policymakers that affect you personally 2. Discuss the motivation of policymakers. Are they held accountable by voters
A. In 1996, many cows in Great Britain came down with "mad cow disease". As a result, the nations of European union banned the import of British beef.
XYZ Corporation faces a horizontal demand curve and the market price is given to be $15. Compute the shutdown price of operations for Corporation XYZ.
Which of the following statements about unemployment and inflation is false? A. The short-run Phillips curve demonstrates a negative relationship between unemployment and inflation, whereas the long-run Phillips curve is horizontal because the nat..
What are some of the ethical dilemmas encountered by traders in their pursuit of profits for both their company and themselves?
What impact does the privatization of prisons have on providing rehabilitative services that would help prisoners rejoin society productively and curb recidivism? Explain.
Suppose you have three indivisible assets, A, B and C with internal rates of return 2%, 5% and 10% respectively and initial costs of $1, $4, $5. Suppose you have $6.5 at 1% and can borrow at 8%. What is the incremental cost of funds on asset B?
Can you explain this to me. Scatterplot Y=Weight in April X=Weight in September Histogram (Frequency Counts) Weight in September Histogram (Relative Frequency %) Weight in September Histogram (Frequency Counts) Weight in April Histogram (Relative ..
Given the following total-revenue function tr=9q-q2 (a) derive the total-, average-, and marginal- revenue schedules from q=0 to q= 6 by 1's
About the topic of national debt, it just likes we lent money from our offspring. Most of us think the debt is bad.
Two firms face the demand equation given by P=200,000 -6(Q1 + Q2) where Q1 and Q2 are the outputs of two firms. The total cost equations for two firms are given by: TC1 = 8000Q1 and TC2 = 8000Q2.
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