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Give two examples of possible net surpluses that three voters get from each of two possible political alternatives A and B. Construct your first example so that the alternative that wins a majority vote generates the maximum total net surplus. Make your second example so that the alternative that wins a majority vote generates the least total net surplus. Explain why this happens.
A marine equipment manufacture is considering replacing its wired pendant controllers on its heavy-duty cranes with new portable infrared keypad controllers. The company expects to achieve a cost savings of $4,500 the first year and amounts increasin..
On the first day of the New Year to get her business started, the owner/photographer of Exquisite Portraits Inc. paid $200 for business cards, $1000 for a listing in Yellow Pages, and $250 for an annual business license. What are the monthly fixed co..
If the investment described in Exercise 12 is an individual’s possible weekly compensation and the individual has no control over the outcome, what effort will a risk-averse individual put in? What about a risk-seeking individual?
q.consider a race between 2 candidates. whoever spends the most money in their campaign wins the election and gets a
IN what did South have a comparative advantage. Did Civil War change any opportunity costs in South. Did opportunity cost of everything rise. Or did items cost less.
Efficiency wages are:
In this module, it is demonstrated that sometimes extensive diseconomies of scale, say, due to high transportation costs, would require that the firm produce its product in a multiple of plants. The average hauling (freight) cost is $0.8Q; that is AF..
Find a pop culture reference (from TV, movie, music, magazine...) of an economic concept. The reference can be anything we have covered in class.
Assume that a firm's only variable input is labor. When 50 workers are used, the average product of labor is 50 and the marginal product of labor is 75. The wage rate is $80 and the total cost of the fixed input is $500.
A production process using two inputs, labor and capital, can be written as: Q=5KL MPL=5K and MPK=5L. The price of a unit of labor is $150 and the price of a unit of capital is $1000. Write the equation showing procedure for the firm's long-run cost ..
Explain what were the problems with this corporation from an organizational architecture point of view.
Your department is budgeting miscellaneous expenses for the next 5 years. Your best guess at the annual inflation rate is 3.9% and the combined MARR is 15%. Expenses currently run $14,500 per year. Assume that expenses are end-of-year payments.
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