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Suppose that a? firm's only variable input is? labor, and the constant hourly wage rate is ?$30 per hour. The last unit? (hour) of labor hired enabled the firm to increase its hourly production from 250 units to 251 units.
What was the marginal cost of the 251st unit of? output? ?$?
While many domestic institutions play an important role in the globalization process, describe three fundamental policy measures that those countries need to promote in order to benefit from globalization. How would these policies be implemented? How..
The last American niobium mine closed in 1959, and all U.S. niobium is now imported from other countries. This is bad for the United States because the U.S. must give money to other countries in order to obtain niobium. bad for the United States beca..
q. under what elasticity conditions would the following be trueincreasing the minimum wage will result in a decrease in
One of the impacts that can erode the standard of living is inflation. The gov't uses the CPI to measure inflation. What is the CPI? How is it calculated? What are the uses of the information?
What will happen in the cell phone market as technology improvements bring cost down?
Define adverse selection in a general way and then provide a more specific definition of adverse selection in an insurance market and explain how adverse selection manifests itself and becomes a problem in insurance markets.
In an oligopolistic market, firms pay close attention to the strategies of their rivals. In monopolistic competition, with a large number of sellers, it is assumed that there is not this kind of rivalry, or interdependence. Why is there probably some..
In the early 1880’s cigarette-rolling machinery became available. Prior to this all rolling was done by hand. The machines dramatically cut the cost of rolling cigarettes. But they were not fully automatic—they needed the permanent presence of an ope..
If the price of gasoline doubled, how would consumption of (a) cars, (b) public transportation, and (c) in-theatre movies be affected? How quickly would these adjustments be made? If you owned a movie theatre would you want the demand for movies to b..
Hotelling’s Model (10pts) Consider the Hotelling’s model with three players, each chooses a policy position on the real line. Is all three players choosing xm (the ideal policy of the median voter) a Nash equilibrium? Explain your answer.
How does organizational culture affect innovation? Are there any guidelines we can develop and implement in organizations that will enhance our innovation capabilities? Include examples.
Policies established by the World Bank and the IMF have been the subject of much criticism, especially from the developing world. Why might developing world nations be critical of these policies? Do you think the policy actions are justified? Explain..
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