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Dan Unowsky manages a production group in a PC repair shop. He has noticed that the speed of repair is based on each worker doing one task. However, if an employee is out sick, then the entire repair process slows down. This is an example of:
A. coordination costs.
B. the trade-off between low cross-training costs and reduced flexibility of the employees.
C. the absolute need for every employee to be trained in all aspects of PC repair.
D. managerial ineptitude.
Consider the market demand for a given good. If ED= -2.5 at the current market price, then a 1 percent decrease in price will result in a:
In relation to farm policy -- this is originally intended to help "the family farm". Does it? Discuss. In relation to minimum wage -- based on economic rationale, are you in favor or against in raising the current minimum wage to $10.10 or an even hi..
Suppose the market demand for wheat is as follows: Qd = 45 - 2P + 0.3Y + 1Pb where Y refers to income and Pb refers to the price of barley. a. (1) Assuming that wheat and barley both sell for $1 per unit and income is $20, calculate the price elastic..
Elucidate the dividend yield for each of these four stock. What is the expected capital gains yield. Discuss the relationship among the various return that you find for each of these stocks.
Assume a banking system with many banks. The reserve ratio in all banks is 16 percent and excess reserve is held in the banking system (i.e. banks are all "loaned up"). Sam sells gis government bond to the Fed. Sam received $3,000 in cash, which he ..
Construct a diagram of the model of the CIRCULAR FLOW OF INCOME for today in the U.S.. Make sure that you include Households, Businesses, Government and the Banking System. Show where Costs of Living, Consumer's Income, Business Receipts and Costs of..
Ms. Fogg is planning an around-the-world trip on which she plans to spend $10,000. Her utility from the trip is a function of how much she actually spends on it (Y), given by: uppose that people who buy insurance tend to become more careless with the..
What are the portfolio weights for a portfolio that has 154 shares of Stock A that sell for $50 per share and 120 shares of Stock B that sell for $25 per share?
Melissa engages in an activity that influences the well-being of a bystander. In order for Melissa's activity to give rise to an externality, it must be the case that
Briefly describe the barter system and its potential to be inefficient. What is money? How did money alleviate some of the aforementioned inefficiencies and assist in the development of markets in the acient world?
What is the economic costs of an undergraduate degree in economics? What is the major difference between economic profit and accounting profit? Briefly explain decreasing returns to variable inputs?
Suppose that the current (first) generation consists of 2 million people, half of whom are women. Assume the total fertility rate is 1.2 and the only way people die is of old age. Instructions: How big will the fourth generation (the great-grandchild..
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