process. But it is a platform where anyone can present his/her idea by paying consideration of USD 10. Basically many people get ideas while actually delivering the tasks and Quirky brings such people together. * It uses crowdsourcing to develop the product‚ by engaging participants in collaborating on every aspect of product creation – from ideation‚ design‚ naming‚ manufacturing‚ marketing‚ to sales. It’s sort of similar a social network for product development. * What is crowdsourcing? Crowdsourcing is
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are called for to improve the efficiency in resource use? The ratio of prices PK/PL= r/w= 50/5=10 and The capital to labor MPK/MPL= w/r=12 These two ratios are not equal‚ the restaurant should change inputs. To make the ratios equal the restaurant should use more capital and less labor. This tells us that the capital is 12 times as productive and 10 times more costly. Question2 A competitive firm sells its product at a price of $0.10 per unit. Its total and marginal cost functions are:
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Short Essay on Coase’s article: “The Nature of the Firm” Coase’s article “The Nature of the Firm” provides a set of answers to important questions such as “Why do firms exist?” “What characterizes firms?” and “What determines their scale and scope?” According to Coase‚ a firm has to find the most cheap‚ most productive goods and services by establishing contracts in an open‚ efficient market place. However‚ market places are not that pure to let firms to succeed in their needs; they are not fluid. This
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permissible to include in the website for the law firm. The law firm website must include the jurisdiction (state) in which s/he is licensed to practice. If the attorney fails to do so s/he has violated the ethical Rules 5.5: Unauthorized Practice of Law; Multijurisdictional Practice of Law and 7.1: Communication Concerning a Lawyer’s Services. For a lawyer to list a legal specialty on the webpage it all depends on the laws in the state in which s/he lives in and if they passed the bar exam. Rule
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[NOVEMBER The Nature of the Firm By R. H. COASE ECONOMIC theory has suffered in the past from a failure to state clearly its assumptions. Economists in building up a theory have often omitted to examine the foundations on which it was erected. This examination is‚ however‚ essential not only to prevent the misunderstanding and needless controversy which arise from a lack of knowledge of the assumptions on which a theory is based‚ but also because of the extreme importance for economics of
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Firms did not flourish until the early 20th century. They emerged as an authorized structure and were granted exclusive rights to trade and conduct business in certain markets and products. The fact that firms are a different way to organize economic activities cannot explain explicitly and adequately the reason of firm formation. Many socialists and economists have given their interpretations of the conditions under which firms emerged and developed in certain ways in a specialised exchange economy
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MARYAM ISAH M.SC/SOC-SCI/3434/10-11 THE CHANGING STRUCTURE OF THE NIGERIAN ECONOMY AND IMPLICATIONS FOR DEVELOPMENT 1970-2011 LECTURER:Prof Olowononi DEPARTMENT OF ECONOMICS AHMADU BELLO ZARIA The structure of Nigerian economy can be broadly classified into four:The production‚Commerce‚Services and others. PRODUCTION: processes and methods employed to transform tangible inputs (raw materials‚ semifinished goods‚ or subassemblies) and intangible
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skills that are lacking and will be discussing what options there is to fulfill those strategies. The team will be discussing the types of fictional consulting firms that will use the strengths of the team members to ensure the success of the short and long term goals of the firm. The team will create a list of three types of consulting firms. The team will create a statement of skills and the methods to get the skills. And finally the team will attach a copy of our skills matrix. Skill Set Summary
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www.economicshelp.org Micro Economic Essays Market Structure 1. Discuss how firms within an oligopolistic market compete. 2. Discuss whether monopoly is always an undesirable form of market structure. 3. Explain how interdependence and uncertainty affect the behaviour of firms in Oligopolistic markets 4. Evaluate the view that only producers‚ and not consumers‚ benefit when oligopolistic firms collude to try to reduce the uncertainty they experience. 5. Explain why contestable markets
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Movie: The Firm Sydney Pollack’s film The Firm is a drama based on an desire to escape from the law firm (Berndini‚ Lambert‚ and Lock) from which he was hired. The relatively small but wealthy firm wines and dines the ambitious Harvard Law Graduate’s (played by Tom Cruise) with money and gifts in order to make him part of their team. Overwhelmed by the gracious treatment and substantial offer Mitch McDeere takes the offer to be part of the Firm. The firm gets them caught up in a affluent lifestyle
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