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1. Suppose that you can schedule a worker up to four hours per day. The benefit function is given by B(H) = 500H 22.5H2 and the cost function is given by C(H) = 100 + 15H2. The corresponding marginal benefit and marginal cost functions are given by MB(H) = 500 45H and MC(H) = 100 + 30H. What is the best choice of hours for this worker?
Do these differences imply (1) that American executives are overpaid, and (2) that the form of the compensation in either America or Europe is suboptimal? Explain.
If speculators had better information about future exchange rates, would their actions be more or less stabilizing than at present?
Discuss the moral and economic implications involved in the movement.
Explain why it might make economic sense for the university to have such a two- group plan, rather than treat all employees (old and new) the same.
Solve your system of equations by the addition/subtraction method. Make sure you show the necessary 5 steps. Use the example on page 426 of Mathematics in Our World as a guide.
Discuss how the concepts addressed in this course would or could benefit someone not planning a career in economics. Explain your rationale
Rewrite the formula above, to create it appropriate for breakeven calculations, All these question refer to information listed,
what is profit maximizing price and output level and determine Winston's profit maximizing price and output level.
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From the scenario, examine the major implications for firms entering into a merger. Develop key guidelines to follow when creating the terms of the merger in order to benefit all parties concerned. Examine two (2) organizational forms of business (e...
Is cigarette smoking a normal good or inferior good and why? Is it substitution effect or income effect? Is cigarette smoking any diminishing margin rate?
Why then do people leave tips in restaurants? If a study were to compare the size of tips earned by servers in restaurants on interstate highways with those in restaurants near residential neighborhoods, what would you expect to find? Why?
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