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Suppose the governement imposes a price ceiling P(ceiling) of $2 per million BTUs. Determine the total shortage associated with the price ceiling.
Describe how each of the 4 factors contributed to the elasticity of the good.
Give a real-world example of how government intervention in the free market affects the demand for or supply of a product or service
Consider the following demand schedule (given below). Does it apply to a perfectly competitive firm? Compute marginal and average revenue.
Use the AD/AS model to describe what will happen in the short run and long run to the world real GDP and the price level.
Explain the various terms in the AD curve. What is the value of the simple multiplier?
Compute the level of the equilibrium national income for each of the values of P.
Competitive industry where the market demand is given by QD = 1,500 - 40P, in the long-run equilibrium there will how many firms?
Discuss the benefits and costs associated with each type of externality. What happens to the Supply and/or Demand curve in each of your examples?
Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor.
A monopoly´s profits are not necessarily bad, but its reduction in output is. Evaluate this statement.
A) What is the profit maximizing output for Q B) Calculate the firms profit or loss, should firm shut down if loss?
Compare and contrast the way Keynes and Friedman approach the economy. What are the key differences and similarities?
Calculate the OSHA injury frequency rate, using the following data: Total Working Hours: 1,500,000; three injured.
Why are firms adopting social networking to strengthen the success of their wellness programs?
Describe the following while considering progressive disciplinary action: a goal, steps to determine the proper disciplinary action and an example.
Why did all the operators shut down their machines? If you were Marcus, what would you do now?
Why would the management of Amico Holdings not want to go through the process of collective bargaining?
What are the primary means by which breakdowns in negotiations may be overcome? Briefly describe each.
Define closed shop, union shop, agency shop, maintenance of membership and check off of dues.
Explain the advantages of a piecework pay system such as that at Ram. What might be problems associated with the piecework pay system?
What form of equity is involved if you hear one of your employees say the following?
The section on Executive Compensation provided statistics that suggest. What might be some pros and cons for paying large salaries to top executives?