Managerial Economics HW #4 (Chapter 5) 1.A firm can manufacture a product according to the production function Q F(K‚ L) K3/4L1/4 a. Calculate the average product of labor‚ APL‚ when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 81 units of labor? Saat (Capital) K = 16 (Labour) L = 16 Q = (16)0‚75(16)0‚25 Q = (8)(2) = 16 APL =Q/L =16/16=1. Saat K= 16 Q= 81 Q = (16)0‚75(81)0‚25 Q = (8)(3)
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The main goal of capitalism is to produce goods and services to make a profit. In order to produce goods and services‚ they need three things: capital (tools used to make things)‚ labour‚ and resources. Critical Thinking Questions 1. How do your financial choices impact the economy? Trace the impact of your financial decisions. Our financial choices impact the economy like a ripple. If a business gets shut down and everyone loses their job‚ then they can’t take taxes from
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INTERVIEW QUESTIONS 1. In your opinion would you say technology plays a vital role in the National Commercial Bank? 2. What are some of the ways in which technology makes the managers’ work easier in the day to day operations of the business? 3. What are some of the fraudulent activities that such a software or technological device detect? 4. Have there ever been any major bank robberies at this bank? 5. Why do you plan to implement any new technological device or software in this bank? 6
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Adaptation’s Versatile Influence on Perception When one adapts to a new environment or lifestyle‚ one gains a new perspective‚ thus leaving the old one behind. In Susan Faludi’s text‚ “The Naked Citadel‚” soldiers willingly adapting to a sexist and violent way of living. These soldiers are trained to act and think a certain way‚ as a result leaving their old perspective behind. The idea that adaptation leads to a loss of perspective‚ can be related to Oliver Sack’s text‚ “The Mind’s Eye”‚ when he
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Name: mun Score: 0 / 30 (0%) [8 subjective questions not graded] Final Exam Review Questions Multiple ChoiceIdentify the letter of the choice that best completes the statement or answers the question. | | 1. | The total sales of all firms in the economy for a year a. | equals GDP for the year. | b. | is larger than GDP for the year. | c. | is smaller than GDP for the year. | d. | equals GNP for the year. | | | ANSWER: | B | |
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Tuesday‚ April 9‚ 2013 Choose only one of the following essential questions below and respond to the question using the literature listed below in a literary analysis essay. Please follow all the minimum requirements for the essay listed below. Essential Question #1: Is an act of revenge ever justified? Poems Read “Cinderella” by Anne Sexton “The Mother” by Gwendolyn Brooks “The Poison Tree” by William Blake Essential Question #2: Do we‚ as human beings‚ truly have the ability to
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Chapter 5 Learning Objectives 1. Explain the concept of price elasticity of demand and its calculation. The price elasticity of demand measures the responsiveness of quantity demanded to changes in price; it is calculated by dividing the percentage change in quantity demanded by the percentage change in price. 2. Explain what it means for demand to be price inelastic‚ unit price elastic‚ price elastic‚ perfectly price inelastic‚ and perfectly price elastic. Demand is price
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Strippers and Porn: Naked or Nude? “If strippers can be called exotic dancers‚ then drug dealers should be called exotic pharmacists” (Unknown). The use of this quote is meant to debase the profession of exotic dancing. There are many negative stigmas that are behind the idea of strippers‚ yet they remain one of the most popular forms of adult entertainment today. Strip clubs are equivalent to museums in that we can look but we may not touch. So the question must be asked: is sexual gratification
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Top of Form 1 . Revenue increases when A. producer surplus increases B. producer surplus decreases C. consumer surplus increases D. consumer surplus decreases Bottom of Form Correct : Producer surplus is the difference between the minimum price the producer is willing to receive and what they actually receive. The surplus is their profit‚ and the larger the surplus‚ the greater their profit on the good. When it decreases‚ the producer receives a price closer to the minimum acceptable. The
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Chapter 3 Multiple Choice 1. What is externality a. Looking at a problem from an external view b. A private behavior that has broader social consequences* pg 56 c. Weighing the costs and the benefits of a decision d. F 2. Who deals with externalities in a market economy a. The government* pg 56 b. Local businesses c. Volunteers d. Individuals 3. Which one of these can you have property rights on a. House b. Car c. Inventions d. All of the above* pg 66 4. What is the average cost of bringing a new
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