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A recent book was titled the end of management. Suppose the technology evolves in such a way that a high percentage of employees do not work in the company office. They telecommute or work offline. What then Is the role of management? Is there one, or is the book title correct?
How does the U.S. department of agriculture calculate the official poverty level? What government assistance programs does the census bureau consider when calculating household income? What programs are ignored?
how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welfare of consumers, the monopoly and society?
Does this make economic sense? Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
Draw the AC function on the same graph. What is the firm's long-run supply curve? That is for every price p, how much will the firm produce in the long-run? Which curves are relevant now?
Use the Phillips Curve to describe the tradeoffs between inflation and the unemployment rate, both in the short-run and in the long-run.
Explain why government regulation is needed, citing the major reasons for government involvement in a market economy and justify the rationale for the intervention of government in the market process in the U.S.
A firm uses two plants (A and B) to produce the product. The plant's marginal cost functions are given by the following equations:
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
What is the own price elasticity of demand when Px = $240? Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price above $240?
Starting in late 1970s and continuing through the 2000s, business environment moved toward relying less on government regulation and more on marketplace to get desired economic targets.
Identify production level to maximize profits Explain how to balance fixed and variable costs Apply economic cost concepts in making business decisions learning team reflection
The government levies an excise tax of five cents per unit sold on sellers in a competitive industry. Supply and demand curves have some elasticity with respect to value.
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