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1. What is the importance of managerial economics?
2. What is price elasticity of demand, what are the importance and how does it work? (Elaborate using examples)
An item is up for auction. Player 1 values the item at 3 while player 2 values the item at 5. Each player can bid either 0,1, or 2. If player i bids more than player j then i wins the good and pays his bid, while the loser does not pay. Now consider ..
From the book “The New HR Analytics: Predicting the Economic Value of your Company's Human Capital Investment” what are 3 most important issues an organization should consider when developing and using HR metrics. Why is each so important?
Determine whether or not government regulation to ensure fairness in the low-calorie, frozen microwavable food industry is needed. Cite the major reasons for government involvement in a market economy. Provide two (2) examples of government involveme..
The City of Milwaukee is considering suing the manufacturers of handguns and other firearms, on the basis of a “public nuisance.” “Nuisance” is defined under Wisconsin statutes as “any source of filth or cause of sickness.” Does such a lawsuit have m..
The bank you are going to get the mortgage from uses a 28% qualifying rate. How much will you need to put down in order to buy this house?
Which of the following practices is restricted by the antitrust laws of the United States? The first phase of antitrust policy in the U.S. began with the passage of the Sherman Antitrust Act in 1890. To judge a firm’s action, the courts in this perio..
What happens to the difference between the value of average total cost and average variable cost?
A firm produces canned food by teams of workers that use machines in the production process. The technology is summarized by the production function q = 2000*K*L, where q is the number of produced food cans per week, K is the number of machines, and ..
The benefits of having NGO's personnel in such regions outweigh the risks?
To maximize profit, the monopolist increases output: A firm with monopoly power is able to set a markup price that is: Typical evidence for the existence of market power would be market prices:
Petra leases a farmer's field for $40 a day and grows pineapples. She pays students $100 a day to pick pineapples and sheleases capital at $20 a day. The table gives the daily output. What is Petra's total cost and average total cost if she produces ..
Illustrate what role did the policies of various governments play in the influencing the international expansion strategies of both McDonald's and Wal-Mart.
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