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General Electric has frequently placed managers together to work on teams. Often the work project is only for a short period of time. General Electric makes sure that the quality of an employee's performance on a given project is recorded and shared with future teams. Why do you think that they do this?
When measuring costs, it is important to keep in mind of one of the Ten Principles of Economics: The cost of something is what you give up to get it.
Examine the models of oligopoly and create at least one recommendation for improvement. Describe your rationale.
Provide an example of an airline or aviation firm trying to take advantage of economies of scale. Do you think they are/were successful? In what way?
You appoint an intern from Southern University to help you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3Q2.
A production lot of 25 units required 103.6 hours of effort. Accounting records show that first unit took seven hours. What was the learning rate?
Recognize three well-founded reasons supporting the potentially beneficial role for government intervention in the workings of private marketplace.
You're the GM of firm that manufactures PC's. Demand for them has dropped 50%, thanks to soft economy. The sales manager has identified only one potential client, who has received many quotes for 10000 new PC's.
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
What are some of the ways these curves shift and what is the corresponding change to the point of equilibrium?
Consider some of products which are widely advertised on television. By what type of firm is each produced the perfectly competitive firm, an oligopolistic firm, or another kind of firm? How many major products can you think of that are not advert..
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
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