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The HRB Corporation is the world's only manufacturer of air filters for Zamboni engines. Last year, HRB charged $20 per filter and sold 1 million of them, and it paid all of its production workers $10 per hour. This year, something happened at HRB headquarters (not announced to the public) that caused HRB to lower its price to $18 per filter. (HRB is still a profit-maximizing company.) This enabled HRB to sell 1.2 million filters. Its workers all continue to earn $10 per hour. What is the elasticity of demand for Zamboni air filters? How much additional revenue does HRB earn if it sells one more air filter this year? How much additional revenue would HRB have earned if it sold one more air filter last year? How much are HRB's employees paid relative to the value they create? (That is, what is the ratio of the wage to the value of the worker's marginal product (price x MPL)?) What was the workers' marginal product last year? What is it this year? Suppose you are considering only two explanations for the increase in HRB's output: (1) HRB invested in better equipment and kept the same number of workers, or (2) HRB hired more workers to use its existing equipment. Given your observations above, which makes more sense? Why?
Bogle believes that "the change from traditional owners' capitalism to the new managers' capitalism is at the heart of what went wrong in corporate America." Summarize and evaluate his argument What does his argument suggest to you about reform or..
The U.S dollar price of a Swedish krona changes from $.1572 to $.1730. a. Has the dollar depreciated or appreciated against the krona b. Has the krona appreciated or depreciated against the dollar
Which of the following situations will arise in the domestic market following the removal of an import quota? a. imports increase, domestic production increases, prices increase b. imports increase, domestic production decreases, prices decrease c. i..
determine which factor is the most difficult to measure accurately. Make recommendations on how the factor you identified can be measured more accurately. Determine how each of the business cycles contributed to the expansion of the U.S. economy c..
calculate the money creation in the U.S. banking system with required reserve ratio at 0.20 in each of the following cases: (a) Sam's parents wired him $100,000 from Japan. (b) Sam won $100,000 from Texas lottery. (c) Sam found $100,000 worth coll..
Assume that the Bank of Canada decides to expand money supply. Explain why would it be counter productive for the Bank of Canada to fix the value of the exchange rate?
Suppose the U.S. dollar price of a British pound is $1.50; the dollar price of a euro is $1; a hotel room in London, England costs 120 British pounds; and a comparable hotel room in Hanover, Germany, costs 200 euro. A) Which hotel room is cheaper ..
Thoughts on aggregated expenditures. We learned that GDP = C + I + G + Xn. At this point we are focused on a private, closed (no international portion) economy. And how do you find the actual values for the US for this particular question.
Suppose the economy is at a position below the physical production possibilities frontier but above the institutional production possibilities frontier. In response to this situation, Keynesian economists would propose that government enact.
1. why a change in the real exchange rate changes a country's net exports. 2. why trade deficits tend to move to zero over time. 3. how foreign prices affect domestic prices. 4. the determination of the real exchange rate.
Discuss what opportunity costs do you confront by enrolling in University of Phoenix's MBA program? Does your organization with which you are familiar consider opportunity costs when evaluating strategic opportunities?
Consider the statement made in the summary by the Vietnamese Vice Minister for Trade. Is the assertion correct and is the claim of dumping valid? Under what conditions can a country price discriminate and dump on another country?
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