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From the scenario for Katrina's Candies, suggest one (1) method in which Herb could use a cost-benefit analysis to argue for or against an expansion. Create three (3) optimal decision rules for Katrina's Candies (e.g., whether to hire more staff or hire temporary workers to meet production schedules).
Manger wants to lower the costs of production, the manager should use an equal number of workers and machines
Assume the following data describe the gasoline market: Price per gallon $2.00 2.25 2.50 2.75 3.00 3.25 3.50 Quantity Demanded 32 30 29 28 22 21 20 Quantity Supplied 16 20 24 28 32 36 40 (a) What is the equilibrium price?
Suppose that MN Company is currently selling 300 units of Product SD per month. Management wants to increase sales and feels this can be done by cutting the selling price by $22 per unit and increasing the advertising budget by $20,000 per month. ..
What is average productivity? What is marginal productivity? Explain the relationship between average and marginal productivity. What would happen to average and marginal productivity if a technological innovation were introduced to the production..
E-Commerce to a certain extent are comprised of the same business models as traditional or brick and mortar businesses. One thing an entrepreneur must understand is how their business will earn money...ie a Revenue Model.
Compute the expected market price. Show calculations please. How many units should you produce to maximize expected profits? What is your expected profit or loss? Again, show work.
Describe and discuss the model of perfect competition and adopting strategies to gain market power in the competitive industries.
When negative or positive externalities exist economists say that market has unsuccessful to make the right amount of the good at the right price. What do economists mean through this?
Economists argue that appropriate corrective taxes or tradable pollution rights will result in efficient pollution reduction. how do these approaches target the firms that should undertake bigger reductions
a. why might fire extinguishers exhibit positive externalities b. draw a graph of the market for fire extinguishers, labeling the demand cruve, the social-value curve, the supply curve, and the social cost curve.
In developing nations, young women have lower enrollment rates in secondary school than do young men. Describe several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.
Jason has been making equal annual payments of $7,500 to repay a college loan. He has just made an annual payment and now wants to pay off the rest of the loan immediately.
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