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What is division of labor and what does it accomplish? Explain the advantages or potential drawbacks in a business setting.
Assuming the firm is minimizing its cost, if the marginal product of labor is 50, what must the marginal product of capital be?
Given the usage of 57 million gallons of jet fuel per week, how should American Airlines respond if marginal cost declines to $15 per suitcase?
How do outcomes play out for factor owners when trade opens? Address capital and labor income in settings, when a given country is abundant in capital or labor.
Why is it desirable for a country to have a large GDP? Give an example of something that would raise GDP yet be undesirable.
Consider airfares on flights between Chicago and Denver. What will happen to the airlines' total revenue if airfare increases? How do you know?
How should Rena address the problem with Mike? What do you think triggered Mike's transformation in the past three years?
Determine the BREAK EVEN POINTS on the merged graph. At what point is Machine 4 a better choice to use than Machine 3, and why?
What is a specific monetary action the Fed might use in scenario? Identify the tool and how the Fed would use it. Explain how this would address the scenario.
Submit a 1-page summary with 3 customer profiles. Who are your customers, why are they important to you?
Describe how the brain changes from birth to age two. Explain neuroplasticity and provide an example of how/where this can be seen in younger children.
What is your organization doing to plan for the financial consequences associated with these challenges?
Why do educated people tend to have lower rates of unemployment and often higher wages?
Formulate the linear optimization model, decision variables, objective function and constraints that landhills could use to achieve its objectives.
What is Ken's opportunity cost for making tables? What is Ken's opportunity cost for making chairs? What is Traci's opportunity cost for making tables?
Explain what risk is in the context of capital investment decisions and why it is particularly important in this context.
Analyze globalization's meaning, evaluate foreign policy decision-making models and compare utility of foreign policy tools for managing foreign policy problem.
Why do the uninsured typically pay the highest prices? Why would a hospital usually get a better price for a drug than an insurance company?
How much community benefit do not-for-profit hospitals provide? How much community benefit do for-profit hospitals provide?
Briefly discuss the recent development of the macro-economic variable you choose (e.g. the effects of Covid-19 or those of the war between Ukraine and Russia).
Also form a regression equation by choosing appropriate independent variable. What signs might the parameter estimates have for each of your chosen variables?
What is the economic problem as defined by the MES text and how does the US solve it? What acts of reciprocity do you engage in. Explain.
Based on your study of this module/chapter (market forces of demand and supply), what is your recommendation/advice to managers to include in this catalog?
Suppose compensation is given by W = 400,000 + 250p+50S where W = total compensation. What percentage of the CEO's total earnings is tied to sales of the firm?
How many clients does Peter need to acquire to break even? If he wants to achieve a target profit of $500 monthly, how many clients does he need?