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MICRO: Consumer Theory: Against the background of an increase in the tax rate imposed on wage income, explain how the concepts of income and substitution effects may be used to analyse the labour supply response of an: Individual who is already working in the paid labour market and Individual who is considering working in the paid labour market.
Is project control different in an Agile project? What is the role of a project manager in controlling an Agile project? What is the role of the project client, sponsor, or customer at controlling project changes?
If R and F both have 12 hours of labor that they can give to catching fish or goats, and R requires 1 hour to catch a fish and 2 hours to catch a goat, F requires 6 hours to catch a fish and 3 hours to catch a goat. They are able to trade at Pf=Pg..
Unemployment workers receive unemployment insurance payments from the government. Does the existence of unemployment insurance make it likely that consumption will fluctuate more or fluctuate less over the business cycle than it would in the absence ..
After reading Porter’s article, “What is Strategy?”, and the background to Case #1, comment on how you believe the management team of St. Sebastian has done instilling a strategic management culture. In your summary inlcude: What have they done well?
Consider the example of moral hazard problem when a firm issues bonds/takes loans. We have shown that if the a sufficiently large fraction of the project is financed by the firm’s internal funds (in our example, 25%), the firm will choose Project S (..
Explain why each of the factors may influence the own price elasticity of demand for a commodity - The narrowness of definition of the commodity.
An economy has the following Cobb-Douglas production function: F(K,L) = K^1/6 (EL)^5/6. The depreciation rate is 1% and the saving rate is 48%. The economy is in a steady state, where the population decreases at a rate 1%, while real GDP per capita g..
Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100 per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or why not? Determine whether ea..
Use the following table of Consumer willingness to pay to answer questions 13-16. Assume the cost of producing the goods is zero. What is the total profit to the monopolist from selling the goods separately? What is a better pricing strategy for the ..
Using the Lagrangean multiplier approach calculate the optimal (i.e., service maximizing) combination of medical and social staff. Determine the optimal amount of service provided by BF.
Why is an understanding of Illustrate what development means crucial to policy formulation in developing nations. Why do you think a nation may have difficulties in agreeing on a rough definition of development.
The predictive power of the Heckscher-Ohlin model, at least in terms of forecasting the volume of trade, appears to undergo improvement upon abandonment of the assumption. The gravity model states that trade between two countries will increase if the..
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