* A firm has market power when it can profitably charge a price that is above its MC…
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How does Walmart do it? Sam Walton’s philosophy was to have the lowest prices. So, if you could give everyone the lowest prices on everyday goods then you are going to be successful. By doing this they did away with intermittent sales that are very common in the retail world. I remember when Walmart came to my area in Minnesota, because the smaller retail stores closed their doors. Employees from other smaller retail stores went to work at Walmart which caused them to shut down. What kind of retail stores are affected by this giant of a retail business? Well, you can buy anything from toilet paper, potting soil, food, electronics, house hold cleaning supplies, gaming systems and even Timex watches.…
Econ 10 TA’s will hold a total of 18 hours of review sessions and 18 hours of office hours before the final. Please note that no help is available on the day of the final.…
- Incomes fell, budgets were unbalanced, governments introduced deflationary policies which made things worse, sufficient funds were not available to debtor countries.…
1. The figures in the following problems are all actual numbers taken from reports prepared by various organizations like the World Bank…
Instructor: D.G. McFetridge Fall Term 2011 Office: A806 Loeb Building Phone: 613-520-2600 ext. 3748 E-mail: donald_mcfetridge@carleton.ca Office Hours: Mondays, 2:30 p.m. – 3:30 p.m. and Thursdays, 11:30 a.m. – 12:30, or by appointment COURSE WEB SITE: www.carleton.ca/~dmcfet/courses PREREQUISITE: ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher. COURSE FORMAT: Lectures: Thursdays, 8:35 a.m. - 11:25 a.m. Room: St. Patrick’s 400 EXAMINATIONS: There will be one midterm examination. It will be held in class from 9:00 a.m. - 11:00 a.m. on Thursday October 27, 2011. There will also be a 3-hour final examination…
1. Graphically and verbally explain why an increase in retail sales during Christmas 2011 will boost GDP growth in Q1 2012.…
With the question as stated: When would you want to own a business that sells price-elastic products? I think that any time could be a good time to own a price-elastic business. Obviously, the most opportune time would be when the economy is in the state that it is in today. The best kind of business to be in would be a store like Wal-Mart.…
The topics and methods we cover in this class should give you a better understanding of what’s happening in the real world with budget deficits, the national debt, unemployment and government “stimulus” policies. It will also prepare you for other macroeconomic intensive upper level courses such as intermediate macroeconomics, money and banking, and economic development.…
This week, the emphasis was on global competition and in what way this can influence an establishment’s strategy to boost profits and how to utilize global competition to examine the outcome of relationships among employees and management. These dual topics were fairly straightforward for all team associates to comprehend and might be able to relate to their trades. All team associates were able to convey the topics to their trades and recognize how global competition can influence their specific industry.…
ECON 2202-001 Intermediate Macroeconomics Chapter 8 Homework Assignment 8-1. In the United States, the capital share of GDP is about 30 percent, the average growth in output is about 3 percent per year, the depreciation rate is about 4 percent per year, and the capital–output ratio is about 2.5. Suppose that the production function is Cobb–Douglas, so that the capital share in output is constant, and that the United States has been in a steady state. (For a discussion of the Cobb–Douglas production function, see Chapter 3.) a. What must the saving rate be in the initial steady state? [Hint: Use the steady-state relationship sγ = (δ + n + g)k.] b. What is the marginal product of capital in the initial steady state? c. Suppose that public policy raises the saving rate so that the economy reaches the Golden Rule level of capital. What will the marginal product of capital be at the Golden Rule steady state? Compare the marginal product at the Golden Rule steady state to the marginal product in the initial steady state. Explain. d. What will the capital–output ratio be at the Golden Rule steady state? (Hint: For the Cobb–Douglas production function, the capital–output ratio is related to the marginal product of capital.) e. What must the saving rate be to reach the Golden Rule steady state? 8-2. In the economy of Wolosovia, the owners of capital get two-thirds of national income, and the workers receive one-third. a. The women of Wolosovia stay at home performing household chores, while the men work in factories. If some of the women started working outside the home so that the labor force increased by 5 percent, what would happen to the measured output of the economy? Would labor productivity— defined as output per worker—increase, decrease, or stay the same? Would total factor productivity increase, decrease, or stay the same? b. In year 1, the capital stock was 60, the labor input was 36, and output was 120. In year 2, the capital stock was 65, the labor input was…
Climate regulation, carbon sequestration and storage; soil stabilization; flood mitigation; storm protection, protection from strong winds and waves; erosion control…
• Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices.…
¾ Exchange rate is simply the price or cost of units of one currency in terms of another.…