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"Productivity growth lets companies boost profits even as output prices fall." Assume that productivity growth refers to marginal product of an input.
(a) Explain how a firm can increase profits even when the market price of its output is falling. Your explanation should refer to marginal productivity theory and please give a current example.
Recall the looser pay winner auction experiment done in class. discuss how these experiments explain why the bidders changed their minds toward wanting to bid well above the value of the prize, even though they refused to do so at the beginning.
Assume blonds earn $3 less per hour than brunettes and a firm employs 300 workers. There are 8 working hours in a day. If this firm refuses to hire blonds because of discrimination, how much profit will it gain/lose in a day? (Assume blonds and brune..
Maria consumes two goods, strawberries and other goods. Because of her exquisite taste, she buys her strawberries from a particular vendor. Her preferences over other goods y and strawberries x is characterized by a utility function U(x, y) = x + y, ..
Twin brothers Ryan and Mike co-own Stamps and More, an independent shipping business they established shortly after graduating from college. While initially struggling during the first two years of operation, the business eventually turned a profit i..
Restrictions on imports. Adding an additional family member to the labor force:
What does influence consumer decision making? What is the role of price in consumer decision making? What is the role of metrics in company’s performance? How can companies use metrics to improve their performance?
calculate the cross-price elasticity of demand. calculate the income elasticity of demand. are the two goods compliments or substitues?
Consider the differences between demand schedule and the demand curve, and how are they related.
Using a required reserve ratio of 10% and assuming that banks keep no excess reserves, imagine that $300 is deposited into a checking account. By how much more does the money supply increase if the Fed lowers the required reserve ratio to 7%?
Graph the following: Demand Curve Marginal Revenue Curve Marginal Cost Curve Average Total Cost Curve B) Identify the profit maximization point for the monopolist. What are the price and quantities that will maximize profit? What is the total profit ..
Identify and describe four means of political risk adaptation. Give a cited source for each mean. I know what the four means are of political risk adaptation the problem I'm having is where do I find websites to give examples of these. If someone cou..
Suppose that you can sell as much of a product (in integer units) as you like at $61 per unit. Your marginal cost (MC) for producing the qth unit is given by: MC=9q This means that each unit costs more to produce than the previous one (e.g., the firs..
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