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Name a figure in the business environment whom you would identify as a successful leader.
A firm can manufacture a product according to the production function: Calculate the APL when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the APL change when the firm uses 81 units of labor?
Suppose the market for chewing gum is perfectly competitive, the demand is Q=20-P, and the Supply is Q=-P+2P. What is the Consumer, Producer, and total Surplus?
An engineer deposits $300 per month into a savings account that pays 6% per year, compounded semi-annually. How much will be in the account at the end of 15 years if there is no inter period compounding?
Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm. Describe the busi..
Diminishing marginal utility means that, The "invisible hand" described by Adam Smith refers to the
1. How does one see the global economy and globalization impacting income and employment in the developed world? What is the justification?
Suppose Ralph hires workers at his supermarket at a wage rate of $12/hour. Ralph currently has 10 checkout stands (i.e., capital), each with a rental rate of $10/hour. The production of customers served (i.e., output) is determined by the hourly prod..
You have just purchased a house for $400,000, paid $24,000 for legal fees and $17,000 for renovations. The market price of the house does not change. If the sales tax on a house were 3% (to be paid by you if you sell the house), what is the sunk cost..
Suppose that you manage a bank that has made many loans at a fixed interest rate. You are worried that inflation might rise and the value of the loans will decline. Why would an increase in inflation cause the value of your fixed-rate loans to declin..
Use both the TVM equations and a financial calculator to find the following values. Round your answers to the nearest cent.
Consider, an economy, of 2 period households, with a growing population in which each person is endowed with y1 units of consumption when young, and y2 units when old. Draw the feasible set for this economy and hypothetical optimal bundle for this ec..
Earlier this year, Greek citizens, fearing currency changes or capital controls, took billions of euros out of their bank accounts. Some of it they sent to banks in other countries, and some of it they even hid in flower pots, freezers, and yes, unde..
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