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The Green Show Corporation is planning going to a piece rate system, where manufacturing workers are paid based on their level of output. Discuss what factors the firm should consider in deciding whether this idea should be implemented. How should the initial piece rate be set? Under what circumstances should the company alter the piece rate once it is adopted?
Merriwell Company has a virtual monopoly in ultra high speed computer market. Merriwell has recently introduced a new computer that will be used through satellite installations around the world.
Explain whether the firm will make economic profit, In the short run and In the long run.
Say there is a natural disaster which wipes out all of tomato plantation of one country. so there is a drastic increase in the price say from $6 to $15 a kilo
Discuss and explain two factors that would increase demand for labor. Suppose if the market price of the good or service that a firm produces increases, what happen to the demand of labor
Kathy Bakery is a local full service bakery in Omaha, Nebraska. Kathy sells loaves of wheat bread for $3 a loaf.
Following are the Production Function: Q = 72X + 15X2 - X3, where Q = Output and X = Input The Marginal Product and Average Product when X = 6 are;
Mr. Smith, has fallen behind on his work, he has asked you to help to make a letter for a local business or economic project.
During the last ten-years, sales revenue has increased from 25 million to 65 million. Estimate the company's growth rate in sales using the constant growth model with annual compounding.
The law of diminishing marginal productivity states that as more and more of a variable input is added to an existing fixed input,
How does capital investment affect the marginal physical product of labor and does more college education have the same kind of effect also which is a better investment
In Chicago 120 people are wants to work as cashiers if the wage is $6 a hour. For each $1 that the wage rises above $6 an additional 40 people are wants to work as cashiers.
What if a company employs ten workers and pays each $15 each hour. Further suppose that the MP of the 10th worker is five units of output
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