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Suppose that a? firm's only variable input is labor. The firm increases the number of employees from four to? five, thereby causing weekly output to rise by four units and total cost to increase from $2500 per week to $2800 per week. What is the marginal product of the fifth? worker?
Identify the critical operations decision areas in an organization and discuss the responsibilities of an operations manager while addressing these decisions.
What is the marginal revenue of a firm that sells a product at the price of $15 and the price elasticity of demand for the product is -2? What is the price elasticity of demand of a firm that sells a product for $20 and marginal revenue is $12?
You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditional method. Compute the total revenue, the total cost, and the profit at the..
Competitive Market Surplus. Suppose demand and supply conditions in the competitive market for unskilled labor are as follows: P = $15 ? 0.3QD (Demand) P = $3 + $0.1QS (Supply) where Q is millions of hours of unskilled labor and P is the wage rate pe..
Discuss how government intervention to address a market failure might worsen the situation. Provide an example of where government intervention does work and why that is so.
Give one reason why it is important for an information systems manager to be knowledgeable about telecommunications. Do not simply state something broad along the lines of "because telecommunication infrastructure is needed to meet business needs ..
Duopolists A and B face the following demand curves: QA = 100 - 2PA + 5PB and QB = 120 - 3PB + 4PA. If both firms have zero marginal cost, what are the profit-maximizing prices and quantities?
Securitization is the process by which financial institutions a. pool together a group of loans and then issue securities backed by the pool. b. determine the composition of their assets that will yield the optimal amount of security for their financ..
Deficient as the sole mechanism for determining the optimal level of resource employment.
When the ticket price for a concert at the Arias Magnificas Opera House was $50, the average attendance at concerts at that price was 4012 people per concert. Assuming that demand (the average number n of tickets bought) is a linear function of the a..
Answer this question based on the payoff matrix above for a duopoly in which the numbers indicate the profit from following either an international strategy or a national strategy. Refer to the above table. If firm A chooses an international strategy..
A 'structural' budget deficit is one that:
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