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In view of the current events in the Business World (unemployment, stock market down, businesses closings, and declaring bankruptcy) what nonprogrammed decisions need to be made by the public and Businesses? Why?
describe why marginal analysis must be used in decision making with examples. Also, give examples of poor decision-making when sunk costs were used to justify choices, and discuss how legal and ethical issues may play a role in making decisions.
Suppose the wage rates of workers are based on the expected price level. If there is an unexpected increase in AD, it will cause the actual price level to increase. Then workers should raise their expected price level and negotiate a higher wage r..
Suppose that the banking system is in reserve equilibrium. The Fed conducts an open market buy of Treasury securities in the value of $1 billion.
government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken t..
Provide a brief company and product description and describe the characteristics of your chosen product that differentiate the product in the marketplace.
Construct a table showing the (net) marginal revenue product derived from assembly worker employment and how many assemblers would Just Bikes employ at a daily wage rate of $100? Explain your answer and show all calculations.
Large-scale wars typically bring a suspension of international trading and financial activities. Exchange rates lose much of their relevance under these conditions, but once the war is over governments wishing to fix exchange rates face the proble..
What factors might these types of stores have in common behind their declines? How would you determine which were important and which were not?
How much should this firm produce now, and what price should they charge? Explain, calculating total profit or loss earned at this quantity.
The demand curve for a good is very unlikely to be perfectly vertical because A) scarcity and limited income restrict the ability of consumers to afford goods as they become very expensive. B) as the price of a good rises to high enough levels, the ..
Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Explain how these problems are inte..
Select an organization you work for or are familiar with. Could the organization you have chosen lower prices to increase revenue?
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