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At a university faculty meeting, a proposal was made to increase health care benefits for new faculty to keep pace with the high cost of health care.
True or False: In the long run, this increase in health care benefits will make faculty positions more attractive than other jobs. (Hint: Consider how the indifference principle applies to this occupation in the long run.)
Explain the difference between accounting and economic profit. Give 2 examples of when they differ.
A pharmaceutical firm has a monopoly on a new class of vasodilator. The market demand is given by P=240-0.01*Q, and thus MR=240-0.02*Q. The monopolist's marginal cost is constant and equal to 20. Calculate the profit-maximizing price.
Answer these questions with concision and precision: Why integration within an enterprise information system (EIS) is needed? What makes, from EIS integration, a challenge?
Onus residents, in questions 2.a.-d. above, complain to their local politicians about the high prices. In an attempt to reduce the exorbitant price
The PBoC's policy of exchanging all US dollars for renminbi could produce inflationary pressures. How does the PBoC avoid this risk?
Social change in a culture comes from social movements. Compare and contrast 4 different types of social movements and provide an example of a specific social movement that has occurred for each (Reform Movement, Revolutionary Movement, Religious Mov..
Suppose the marginal benefit of writing a contract is $50, independent of its length. Find the optimal contract length when the marginal cost of writing a contract of length L is: What happens to the optimal contract length when the marginal cost of ..
What is price elasticity? Why is it unitless? How can elasticity measures be used practically? What does it mean if demand is elastic? inelastic? What is income elasticity?
What is the different between interpretation of coefficient in SLRM and MLRM? How does it relate to omitted variable bias? How about a linear versus nonlinear multiple regression model coefficients? (quadratic). What is the role of controls?
Other things being equal, the markup above marginal cost that a monopolist charges will be:
Analyze the tasks involved in developing a retail marketing strategy to determine which task presents the greatest number of potential challenges to the retailer you selected. Explain your rationale.
What is the extent of the liabilities of partners in a general partnership? How does the limited partnership differ from the general partnership? What actions, if any, should the partnership take during any “winding up” period?
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