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Economics, Microeconomics
Year 1
47222-econ
Category: Economics > Microeconomics
Subject: Production and Cost in the Short Run
Details: 1) At a management luncheon, two managers were overheard arguing about the following statement,"a manager should never hire another worker if the new person causes diminishing returns". Is this statement Correct? If so why? If not explain why not? In detail.
2) Explain why it would cost Pete Sampras or Venus Williams more to leave the pro tennis tour and open a tennis shop than it would cost a coach of a tennis team to do so.
By OTA: Jiong Tu, PhD (IP)
OTA Rating: 4.8/5
Your Price: $2.19 (original value ~$3.99)
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Nation's aggregate demand curve - Assume that the position of a nation's aggregate demand curve has not been changed, but the long-run equilibrium price level has declined. Other things being equal, which of the following factors might account for this event?
a. An increase in labor productivity.
b. A decrease in the capital stock.
c. A decrease in the quantity of money in circulation
d. ...
Energy efficient versus economic efficiency - Builders of a hybrid car announced it would build a car that would get 180 miles per gallon of unleaded gas. They figured it would cost $40,000 per car to build. The builders wanted Congress to force US automakers to build this energy-efficient car.
Is energy efficiency the same thing as economic efficiency? Please explain
Under what circumsta...
Economic efficiency - If a manager that takes over a furniture factory and realizes immediately that it was throwing away at least $100,000 a year worth of wood scrap and within a few weeks he sets up a task force of managers and workers to deal with the problem. Within a few months they reduced the amount of scrap to $7,000 worth per year. Was this necessarily an economically efficient move? W...
4721 - Category: Economics > Microeconomics
Subject: Production and Cost Analysis
Details: The Largo Publishing House uses 400 printers and 200 printing presses to produce books. A printers wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 booksto total output. Is the publishing House making the opti...
Regulations by the government - Since Gov't imposes regulations on businesses for such things as safety regulations for workers, pollution controls on the amt of emissions, and requirements on access for workers with disabilities how might you answer the following questions?
1.How might these regulations be thought of as being a negative technological change (techn deterioration rather than tec...
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