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1) The principles of economics influence your decision making, interaction with others, and the economy as a whole.
Part I: Give one example of how you are personally affected by each of the three areas.Part II: How were these positive or negative effects?
2) List three characteristics of an economists, a scientist and thee characteristics of an economist as a policy adviser. How do an economist as a scientist and an economist as a policy adviser help to create understanding of economics? Please explain.
Business Week, in an article dealing with management, wrote, "When he took over furniture factory three years ago. Realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap.
A corporation requires $500,000,000 to finance a major project in the firm. The company is expected to generate a total of $80,000,000 in earnings next year with the addition of this project.
Assume that a stock price has an expected return of 16% per year and a volatility of 30% per year. When the stock price at the end of a certain day is $50,
Determine what is Risky Behavior Amoung Youths in Behavioral Economics and explain how does it affect the economy?
American Linen is a company that has multiple salespersons. In 2008, it changed the compensation method for its sales force, moving from a system of fixed wages to one of base wage plus charge.
Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. Each barber is paid $9.90 every hour and works a forty hour week and a fifty week year,
Suppose you are the manager of a company that produces products X and Y at zero cost. You know that different types of consumers value your two products differently,
Coca-Cola and PepsiCo are leading competitors in market for cola products. In 1960 Coca-Cola introduced Sprite, which today is the worldwide leader in lemon lime soft drink market and ranks fourth among all soft drinks worldwide.
Let the production function be given through, Assume the plant size (K) is fixed in the short run at 100.
Suppose a company that uses two inputs. The quantity used of input 1 is denoted by x_1 and the quantity used of input 2 is denoted through x_2.
The fresh milk market in Honolulu is purely competitive. The typical production cost is defined through a a cubic cost schedule as given below.
Monopoly with two production plants and cost functions of C1 = 50 + 0.1 Q1^2 and C2 = 30 + 0.05 Q2^2. Compute the profit maximizing level of output
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