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A magazine, in an article dealing with management, wrote, "When he took over the furniture factory three years ago ... [the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap. Within a few weeks, he set up a task force of managers and workers to deal with the problem. And within a few months, they reduced the amount of scrap to $7,000 worth [per year]." Was this necessarily an economically efficient move? Explain your answer.
What will be the CS, PS, tax revenues and deadweight loss? Suppose the government increases the tax to $4 per unit. What will be the new CS, PS, tax revenues and deadweight loss?
For this assignment you need to evaluate one idea and how you would implement your stimulus strategy. Food for thought
If you were a supplier to the furniture producer, would have chosen to see the analysis performed in physical sales units rather than dollars of revenue.
If combination of rational expectation and perfectly competitive markets , a decrease in aggreage demand will lead to? A. A small decrease in real GDP B. No change in real GDP C.
If there are n firms in the marketplace also every firm charges p. Illustrate what is total producer surplus.
we want to take a random sample of four accounts in order to learn about the population. How many different random samples of four accounts are possible?
Suppose the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For every level of output, which technology is cheapest.
Illustrate what inconsistent other than price appear ro have the biggest impact on the demand for McDonald's products.
What happens to the demand for Sara's sweatshirts in long run. In long run, what happens to Sara's economic profit.
Illustrate what will happen to equilibrium price As a local cable company offers cheaper pay- per-view films, local movie theaters have more unfilled seats.
If average income increases from US$5,000 to US$5,500 and if technological advances reduce cost of catching fish from US$2,500 per ton to US$2,000 per ton, by ExplainING how much will annual catch exceed maximum sustainable fish catch.
What is Anna’s optimal choice of comic books and AOG? Illustrate her optimal choice on a graph, using indifference curve-budget line analysis.
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