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The principal-agent problem arises when the interests of owners and workers diverge. because of diminishing marginal returns. when the interests of owners and workers converge. because of the profit incentive.
What is the magnitude of J.R.'s consumer surplus at the equilibrium price and how high must the price of ribs be for Judy to supply 20 ribs to the market?
Businesses usually decide in using automation and labor in production. An automotive environment may have high fixed costs and low variable costs,
When McDonald's corp. reduced the price of its big mac by 75% if customers also purchased french fries and a soft drink. The Wall Street Journal reported that the company was hoping the novel promotion would revive U.S sales growth.
Some observers say that changes in the past few years have eroded the monopoly power of local cable tv companies, even if no other cable firms have entered their markets. What are these changes? Do these monopoly firms still have monopoly powers
Calculate the money supply, the currency deposit ratio, the excess reserve ratio, and the money multiplier.Suppose the central bank conducts an unusually large open market purchase of bonds held by banks of 1400 billion due to a sharp contraction i..
Are Lay's Potato Chips a normal or inferior good and Doritos a substitute or complement for Lay's, the marginal cost of producing a bag of Lay=s is 60 cents. How much should you charge per bag?
If there is a natural monopoly one firm owns all the natural resources in the production of a good, such as owning the diamond mines needed to produce diamonds.
How does the existence of money reduce the costs of making transactions ,relative to a society based entirely on barter. English is becoming the usual language for international transactions, even if the language of neither country is English.How ..
Find out the quantity at which profits are maximal. given that quantity, find out the price charged and monopolist's profits. (solve for answers using the equations)
Compute the marginal product of labor when 9 units of labor are utilized. Assume the firm can hire labor at a wage of $10/hr and output can be sold at a price of $100 per unit. Determine the profit maximizing levels of labor and output.
Johnson Inc. is notified that local property taxes have raised. Johnson's economist states this will increase our cost of production and shift up our average total cost curve, average variable cost curve.
A monopoly with a more elastic demand curve will have more market power and monopolist can earn positive profits in the long run because it has market power
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