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The wage in the U.S. is $20. Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
Discuss how changes in the macro environment affect individual firms and industries through the micro economic factors of demand, production, cost and profitability. Drawing on current business publ
Is Lobo using the lowest cost combination of workers to produce its targeted output? If not, what recommendations can you make to assist the company?
Review recent business publications such as Business Week, Fortune, The Wall Street Journal, Financial Times, The Economist, or various online sources and find a case study discussing how changes in
Switchgrass was promised to be the new crop that would replace corn as the primary feedstock for biofuels a couple of years ago. Why have we still not switched to switchgrass?
What are the economic consequences of competition among producers? Workers? Traders (middlemen)? Customers?
Which of the following expressions captures the meaning of opportunity cost?
What example can you cite of the government's attempt to correct a market failure?
Can the trading value of gold exceed in equilibrium? Explain. What is the exect on gold consumption and mining of an increased use of gold as money?
One student out of about 300 said that he or she would transfer. Based on this information, the price elasticity of demand for education at this university is:
In addition, the government has a strict balanced budget policy where government spending depends on the amount of tax raised. Compare the multipliers of the economy with and without donations.
Complete the demand and total revenue spreadsheet for daily sales of a golf shirt in each of Ralph Lauren's discount stores. What price maximizes sales revenue? What price maximizes operating profit?
Explain, with the aid of demand and supply curves, the impact of increased crime on the demand for private security services. On your diagram, show the changes in the equillibrium price and quantity
Consider chip plants: potato and computer. Assume there is a large rise in the demand for computer chips and potato chips.
What are the fixed input constraints that limit worker productivity in the typical fast-food outlet
Suppose that the Indian government reduces its deficit and returns to a balanced budget. If other thing remian the same, how will the demand or supply of loanable funds in India change?
Suppose a monopolist's demand is given by the function P=25-3Q. Let the total cost of production be 7Q+28 for positive levels of output, and zero otherwise. What is the profit maximising output?
In the mondel of a dominant firm, assume that the fringe supply curve is given by Q = -1 + 0.2p, where P is market price and Q is output. Demand is given by Q = 11-p. What will price and output be
Give an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies? At what production level are scale economies exha
Select one topic from below. This will be the subject you will research you will need to include an outline, a rough draft and the final draft. Evaluating Legal Prices, Evaluating Antitrust Legislati
Suppose that demand for a product is P=55-5Q and total cost of production is 5Q+20. What is the profit maximising price?
To which category of resources does each of the following belong? An individual introducing a new way to market products on the Internet.
The two do not necessarily move together all the time. In both 1974 and in the late 1970s, the increase in the CPI was significantly larger than the increase in the GDP deflator. Why?
What are the opportunity costs for the manager of being in this business relative to returning to his old job? What is the economic profit of the business?
Identify how the following purchases are counted as part of GDP: You purchase a used lawn mower at a garage sale. General Motors purchases tires from Goodyear to equip new Chevrolets.