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Explain how the marginal product of labor and the marginal product of capital are used in decision-making. Take into account how productive each is per dollar spent and make up your own example of the balance between the two and how management can best maintain the balance and employee morale at the same time.
Jean-Baptiste Say argued that entrepreneurs should be called the fourth factor of production because they organize the other factors and make things happen or else.
Suppose the bottle water industry is competitive. If a bottle of water supplied by the typical firm has an ATC of 20 cents and the market price if 30 cents.
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Explain the circumstances in which a monopolist may encounter a free rider problem and determine the senses in which a perfectly-discriminating monopolist is efficient or inefficient.
Employees at Foxconn factories described in the e-Activity worked more hours than allowed under Chinese labor laws. Yet the violation of these standards is widespread in manufacturing and the demanding treatment of workers is commonly accepted. Co..
Among the 4 principal market structure models, monopoly and oligopoly offer best opportunities for the firm to earn economic profits in the long run. What are some strategies for firm which is earning economic profits to legally sustain them over ..
The market price of the product the firm produces is $4 at each quantity supplied by the firm. What is the amount of labor that this profit-maximizing firm will hire,or what wage rate will it pay.
Provide an example of an airline or aviation firm trying to take advantage of economies of scale. Do you think they are/were successful? In what way?
A key year for them is 2015, when Southeast Asia's Open Sky Agreement comes into effect, allowing unlimited flights to all 10 ASEAN members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Describe why a Keynesian approach to managing the macro economy might be appropriate while, at another point in time, a classical approach might be more likely to produce a superior outcome.
Should poorer 1rd World nations refuse "models based on economic laws" of universal validity and there are no universal laws. Describe if you agree.
Discuss how inflation affects the rate of return required on the investment project, and the distinction between a real and a nominal (or‘money terms') approach to the evaluation of the investment project under inflation.
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