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Apple has in recent years unveiled a new version of its iPhone each year. Is this an efficient use of company resources a new model with limited noticeable improvements or should the company wait until there's a major upgrade? Is this marketing over economics? Defend and support your answer
A price taking firm has a production function given byf(K, L) = K.25L.25. The price of output is normalized to 1, and theprices of L and K are w and r. Find the profit maximizing amountof K and L and verify that the second-order conditions or suff..
Acme's primary raw material is PVC sheet that is produced by three major vendors within the United States. Acme, a small consumer products manufacturer, is consolidating down to a single vendor. Continued growth by this vendor assures Acme that it..
Illustrate what are your views on free trade versus protecting domestic marketplaces through tariffs also import restrictions.
Italy and France both have the resources to produce bread and wine. If Italy devoted all of its resources to either product, it could produce 150 gallons of wine or 600 loaves of bread in a given month. Determine and briefly explain who has an absolu..
What is the dominant technological design of the St. Jude Medical's industry (medical device manufacturing industry)? Examples: robotic technology, computer technology? Did this dominant technology develop quickly or more slowly and what influenced t..
There are many elements to consider when designing an organizational structure. Pick one of the six key elements and discussing why that element is important to the overall success of the design.
What would be the value of consumer surplus if the market were perfectly competitive? What is the value of the deadweight loss when the market is a monopoly?
No inflation stickiness: Suppose the classical dichotomy holds in the short run as well as in the long run. That is, suppose inflation is not sticky but rather adjusts immediately to changes in the money supply.
Assume that hotdogs and hamburgers are substitute goods. In the competitive market for hamburgers, there is an increase in the price of hotdogs (due to a decrease in the supply of hotdogs), and an increase in the cost of beef, an input used in produc..
Explain how industrial regulation affects the market and the entities affected by industrial regulation in terms of market structure.
For good A, the demand curve is given by Qd = 40 – P. The supply curve is given by Qs = P. When the market is at equilibrium, what is the value of consumer surplus? (Hint: To solve this problem, you will need to calculate the area of a triangle.)
What are the main obstacles that keep organizations from having a well thought-out security policy? How can they be overcome? What are good components of an organizational information security policy? What are some areas that you think should be ad..
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