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Dr. Susie Wang is president of a subsidiary of the world's largest concrete machine manufacturer (REESE, Inc.). Her job is to organize and operate a newly formed global business consulting company (Concrete Network Services, i.e., CNS) comprising of 13 separate divisions related to the concrete industry.
Do you think REESE Inc., adhered to a set of Business Ethics? If so, what were they? If not, what would you recommend as a set of business ethics for them?
Compute the cross-price elasticity of demand between goods X and Y at the given prices. What is the own price elasticity of demand at these prices?
Explain Arthur Laffer's theory of tax rates relative to tax revenue. What is the effect of a tax on the deadweight loss Why is it sometimes difficult to predict what will happen when a tax rate is decreased or increased
Identify the following as consumption or investment goods or both. Justify your answers an iPod a share of stock the Trans-Canada highway a ski lift an unsold truck by a GM plant in Ontario My textbook didn't go into too much detail on this subject.
Government decreases current tax, while holding government spending in the present and future constant. (a) How does this effect aggregate output, employment and the real wage What is the multiplier and how does it differ from the government expen..
a. Graphically explain what happens to the reservation wage if someone needs to spend some of their non-labor income on day-care services in order to become employed. b. Graphically explain what happens to the reservation wage if someone experience..
The manager of a coporate division faces the possibility of an audit every year. She prefers to spend time preparing if she will be audited; other wise, she would prefer to invest her time elsewhere. The auditor, who gets recognized for uncovering..
What do economists believe is the relationship between the price level (P) and real output (Y) in the short run and in the long run, and how does this answer differ depending on which time frame is being considered How are these beliefs reflected ..
Consider a sharecropper whose contract calls for him to receive ¾ of the output produced in the farm on which he works. Suppose that the value of the marginal product of labor on the shared cropped land is given by 80-L. Where L stands for hours o..
Research the economic costs involved in the conducting break-even analysis for good or service of your choice. Assess the factors involved in conducting the break-even analysis. Find out the conditions which might exist for the manager of this goo..
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000. to maximize profits in the long-run, the monopolist should do.
Consider the market for bicycles. The Total Cost function is given by TC = 100 + 10q + q2 and there are 20 firms. The demand function is given by P = 120 - q. However, there are significant externalities to the production of bicycles. The governme..
Assume that the banking system's nonborrowed reserves total $48.3 billion, with total legal reserves standing at $51.2 billion. What must lent reserves be?
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