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if elasticity is -2,price is $10, and marginal cost is $8, should you raise or lower price?
Jim is considering quitting his work and utilizing his savings to start a small business. He expects that his costs will consist of a lease on the building, inventory, wages for two workers, electricity and insurance.
Provide two terms which you have heard in the mass media, political arena, or in any other venue.
Is this type of bonus structure in the interest of the company? Use theoretical and graphical insights from chapter five of the textbook to explain your reasoning.
Point out how each of the following would shift the 1) average-variable-cost curve, 2) average-fixed-cost curve, and 3) average-total-cost curve. Mention two types of businesses that their costs are mostly variable costs, and list 2 types of busin..
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
Airway Express has evening flight from Los Angeles to New York with average of 80 passengers and return flight the next afternoon with average of 50 passengers. Should the airline remain in business?
What is the marginal physical product of the fifth worker? What is the weekly wage of the fifth worker? What does the price of output need to be in order for the firm to profit from hiring the fifth worker?
Is the economy of a big city more competitive than that in a small town or given neighborhood? How? Do you think your local grocer has monopoly power?
Reflecting back on what you learned about sustainable management practices throughout this quarter; determine 5 activities that illustrate sustainable management of resources that you pursue in your everyday life.
The division of taxing also expenditure functions between various levels government.
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
Explain how have these people changed monetary strategy, fiscal policy also laws that govern businesses since the collapse of the economy.
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