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An article in BusinessWeek warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to "export its way out of trouble" by oversupplying everything from automobiles to semiconductors. Evidence that deflation had become a genuine concern for managers was provided by a statement in the article by John Smith, chairman and CEO of General Motors Corporation: "Fundamentally, something has changed in the economy. In today's age, you can get price increases." The article offers the follow advice to managers: "Productivity growth lets companies boost profits even as prices fall." Using short-run production and cost theory, comment on this advice.
An airline transportation consultant offers the CEO of BlueStar, a struggling commercial airline company, the following advice concerning the airline's high operating costs in the current quarter: "You don't have enough aircraft to operate efficiently. However, at some point in the long run, you will have the opportunity to add aircraft to your fleet in order to reduce your total costs and still carry the same passenger load." Does this advice make any sense? In the long run, how can BlueStar's total costs fall by adding more aircraft to its fleet? Must BlueStar experience economies of scale for the consultant's advice to be correct?
Monica and her father own one of the three automobile tire stores in the city. No other city is nearby. They want do develop a strategy increase sales and market share in their city. What steps can they take?
Noting that just one or two firms might be able to produce and sell similar products at lower prices than the many firms that sell quite similar products in the US, some people argue that monopolistic competition is wasteful. Why would many consu..
Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P Qd = 50000 - 10P
What are the necessary conditions for positive equilibrium prices and quantities? (b) What is the economic interpretation of the parameter "f"? (c) What will be effect (increase or decrease) of an increase in exogenous income on P*, the equilibrium p..
Company M and N compete for market and decide independently how much to advertise. Every one can expend either $10 million or $20 million on advertising.
What would happen to each of the following economic varibles if the government increased the money supply by 20% per year: M1, interest rates, inflation and wages What impact does increasing or decreasing the printing of money have on the economy ..
Describe an example of a particular health care good or service at the beginning of your posting and to what extent do the providers of the good or service influence consumers' decisions?
1. Which economic system is best suited for handling a crisis of epic proportion (hurricane, flood, blizzard, forest fire, and so forth)? Why? 2. Describe and explain why a socialist system might be the best in responding to the needs of people st..
Jeans and alligator or animal shirts: The plain pocket jeans and the Lacoste knockoffs often cost 40% less than brand-name items, yet the knockoffs are essentially identical to the brand-name items.
Economists also use the principle of comparative advantage to advocate free trade among countries as a better policy. Trade is not based on absolute advantages countries have but the relative (comparative) advantage. 1. Does free trade contribu..
When a firm focuses on increasing profitability by customizing the firm's good or services so that they provide a good match to tastes in different national markets, it is pursuing A Localization strategy.
In the classical model with fixed income a decrease in the real interest rate could be the result of a(n): If currency held by the public equals $100 billion, reserves held by banks equal $50 billion, and bank deposits equal $500 billion, then the ..
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