Misty__Smith_HIS_200__Applied_History (2)

Scenario and activity: Managerial economics helps in estimating the product demand, planning of production schedule, deciding the input combinations, estimation of cost of production, achieving economies of scale and increasing the returns to scale. It also includes determining price of the product, analyzing market structure to determine the price of the product for profit maximization, which helps them to control and plan capital in an effective manner. Successful mangers make good decisions, and one of their most useful tools is the methodology of managerial economics. Mr Kevin Buffett, the renowned chairman and CEO of Bedfordshire Companies, invested $100 and went on to accumulate a personal net worth of $30 billion. Buffett credits his success to a basic understanding of managerial economics. Buffett's success is a powerful testimony Managerial economics has a very important role to play by helping managements in successful decision making and forward planning. To discharge his…

ASSIGNMENT  Opportunity cost is all about making choices and how you adequately and effectively manage it. What do you understand by the concepts of intra and inter temporal choice models in Managerial Economics, further as a fresh graduate of MSc in Managerial Economics, clearly demonstrate how intra and inter temporal choice models can make society incur an opportunity cost if not managed adequately and effectively ?

CENGAGE MINDTAP www "240 4 m/static/nb/ui/evo/index.html?deploymentid=5981412282275864594790208&elSBN=9780357133576&snapshotid=3793204&id-1983... ☆ PRICE (Dollars per used textbook) E 200 Homework (Ch 07) The following graph plots a supply curve (orange line) for a group of recent graduates looking to sell used art history textbooks. Each seller has only a single used textbook available for sale. Think of each rectangular area beneath the supply curve as the "cost," or minimum price that each seller is willing to accept. Assume that anyone who has a cost that equals the market price is willing to sell their used textbook. 160 120 40 с 0 0 Brian ☐ Crystal 0 1 0 FR Edison 26 Hilary 5 zm 2 3 4 QUANTITY (Used textbooks) T 0 6 Kevin G Search or type URL D 0 6 5 Bb | 9CX Maria YY tv Nall TH g& 77 LU A $8 00 A ? + O * ( KK amaja music 9 |Gi|9.| GilG M O Q Searc

Assessment 1 - Part 3 question: 1) The wage gap between high skilled and low skilled workers in the US has been rising over 1980-2010. Can you explain this using what you have learned from our course about trade? 2) Consider an economy with two sectors: manufacturing and agriculture. Manufacturing requires labour and capital; agriculture requires labour and land. Note that capital can only be used in manufacturing and land can only be used in agriculture. Labour can be freely mobile across two sectors. Now the government considers passing a law that will allow immigration into the country. Explain who will support this law.

Consider the specific-factors model with 2 goods: manufacturing and agriculture. Manufacturing requires labour and sector-specific capital, while agriculture requires labour and sector-specific land. Labour is freely mobile across sectors. The government is considering to impose an import tariff on agricultural products. Which of the following is true? (a)The relative price of agricultural products will go down. (b)Capitalists will support this initiative. (c)Agricultural production will increase. (d)Marginal product of labour will decrease in manufacturing.  Explain your answer clearly. Limit your explanation to 200 words.

what is the terminology for the definition below? Unemployment caused by annual changes in the weather or other conditions that happen at certain times of the year

This is the estimated labour demand equations based on hypothetical annual data on employment and hourly wages in Azarath: log(employment)=2.4-0.9log(wages) The p-values are 0.001, and 0.029 This is the estimated labour demand equations based on hypothetical annual data on employment and hourly wages in Wakanda: log(employment)=2.5-0.4log(wages) The p-values are 0.012 and 0.020 Question: a.) Using these estimated equations, how would increasing the minimum wage in Azarath and Wakanda affect employment differently. Please explain in as much depth as possible. b.) Are there any issues with the aforementioned estimated equations? What methods would you use to rectify these issues?

In 2013, Cher sold her Malibu Mansion for $45 million (Links to an external site.). It was originally listed for $49 million but no one offered to buy at that price. The price was lowered to $45 million and still no buyers. The interior of the house was remodeled and the house was relisted. Eventually Beyonce bought the house for $45 million (Links to an external site.). Which option is correct? This is an example of Relocation of the location of a good from low to high valued use or relocation of the legal ownership of the good from low to high valued.  Revealed Preference tells us Beyonce valued Chers mansion More than 49 million, less than 45 million, between 45 and 49 million?  In this example, Cher  Valued the good more or valued the good less than Beyonce. In 2018, the swine flu spread throughout China (Links to an external site.). China accounted from more than half of the global pig population before the swine flue and, as a result of the flu, 40% of the Chinese pig population…

The subtitle of the Commanding Heights series is “The Battle for the World Economy”. This episode is titled “The Battle of Ideas” and begins with the introduction of the two most important economists in the 20th century, John Maynard Keynes and Friedrich von Hayek. Keynes and Hayeks ideas were oppositional to each other, yet in the end, both men would have a profound impact in the world economy of the 20th century. Write a short essay of 1-2 paragraphs identifying the basic ideas of both men and explaining why Keynes dominated the early post WWII era and Hayek that late post WWII era.  I need to write a short essay around 3 paragraphs

Macroeconomic issues include: (A) the impact of government regulation on markets (B) total employment nationwide (C) studying what factors affect the price and quantity of automobiles (D) studying the regulation of wages and production costs in the software industry

Labor Market Flows Suppose that the law of motion for unemployment is given by 441 - u, = s(1 – u,) - fu,, where u, denotes the unemployment rate at time t, s is the job separation rate and fis the job finding rate. (a) Solve for the steady-state unemployment rate. Explain what happens to the steady- state unemployment rate and the duration of unemployment if the job separation rate s increases. Suppose that the matching function is such that the job finding rate is given by f(e,) = A0!2, where 0, = v,lu, is the labor market tightness and v, is the vacancy rate at time t. Coefficient A captures the efficiency of the matching process. (b) . - 'Jsing the steady-state unemployment rate and the functional form for f(0), derive the Beveridge curve (i.e., express v, in terms of u,) and explain how v, and u, are related. (c) Suppose that there is free entry, i.e., firms post vacancies until the expected value of

The following are correct statements about the Labor Market model, EXCEPT:   Question 14 options:   The Demand for labor is mainly determined by the Marginal Productivity of Workers.    The Supply of Labor is mainly determined by the Opportunity Cost for Work.    An increase in Labor Productivity will likely lead to higher wages but less total labor demand.    In equilibrium, the market for labor will attain zero unemployment.

Scenario: Imagine you are a policymaker advising the government of a developing nation facing high levels of unemployment and inflation. The government seeks your expertise to design an economic policy that can address both issues simultaneously. As part of your analysis, you decide to apply one of the ten principles of economics to guide your policy recommendations. Question: Select one of the ten principles of economics that you find most relevant to address the challenges of high unemployment and inflation in the given developing nation. Explain how the chosen principle can be applied to formulate an effective economic policy. Discuss the potential trade-offs and limitations of your proposed policy and evaluate its long-term sustainability.

Your boss, who loves geometry, is excited because he has heard that the company's new foreign branch is going to be employing a polycentric approach to hiring. He believes this means they want to hire people who are good at math. While you are trying hard not to laugh, you take the time to explain that this means the company will be focusing on: finding the best person for the job, regardless of nationality. the human resource practices of the home country. the human resources practices of the host country. ensuring that the parent company values are reflected in the human resource policies. O O

Unforeseen economic factors caused a Central American nation to suffer from a catastrophic and permanent shift in the demand for the furniture it manufactured and the fruit it produced. The country is experiencing high unemployment as a result. Per the IMF's Articles of Agreement, this nation suffered from a Multiple Choice competitive advantage. capital flight. fundamental disequilibrium. break-even point. diseconomies of scale.

2

Globalization has enlarged the pool of labor force from which U.S. corporations can draw for their production, and this has eroded the collective bargaining position of U.S. labor unions.  Group of answer choices   True   False

Variables typically included in a multivariate supply function (other than the price and quantity of the item the supply function represents) are prices of other goods that use similar input resources for production, the number of suppliers, techniques of production, taxes and subsidies, prices of input resources, weather, and expectations. Please answer the following questions about the affect changes in other variables might have on the supply of the item. These changes will either cause supply to increase (shift right) or decrease (shift left). Use either word as applicable, for the short answer. 1. If the market price of gasoline returns to the near $4.00 per gallon level then demand for gas-gulping large autos is likely to decrease and manufacturers of these autos are likely to _____________ their supply: 2. A relative increase in the productivity of the technology used to produce the item being considered is likely to _____________________ its supply. 3. Hailstorms have pelted…

Generally speaking, managerial economics is the application of economic theory to the field of business: a) Ethics b) Management c) Practice d) All of the above.

Consider an economy which is divided into different sectors, each producing a differentiated product. Workers in each sector are organized in a trade union which monopolizes the supply of labour to all firms in the sector. Because of its monopoly position, the trade union in each sector may dictate the nominal wage rate  to be paid by employers in that sector. However, employers are free to choose the level of employment. For simplicity, assume that the number of working hours for the individual worker is fixed, so total labour input is proportional to the number of workers employed. Workers in sector  are educated and trained to work in that particular sector, so they cannot move to another sector to look for a job. If a worker fails to find a job in his sector, he therefore becomes unemployed. His real income will then be equal to the real rate of unemployment benefit . An employed worker in sector  earns the real wage  where  is an index of the general price level, so his net income…

Q2. (20 marks) Consider a Ricardian model with two goods, cheese C and wine W. The unit labor input requirements are: aLc = 3, aw = 2, aic = 2, aiw = 1. (An asterisk denotes a foreign variable). The supply of labor in each country is 10, that is, L = L = 10. Assume throughout that the price of wine in each country is equal to 1, that is, Pw = Pw = 1. Questions: B (4 marks) Which country has absolute advantage and which country has comparative advantage in which goods? Explain why (using inequalities). b. (5 marks) Draw and label the world relative supply curve of cheese. c. (4 marks) Find the values of Pc, P, w and w* in the autarky equilibrium (when the two counties do not trade with each other), where w and w* are wages in the two countries. d. (7 marks) Find the values of Pc, Qc, Qc, Qw, Qw, w and w* in the free trade equilibrium, for each of the following two world relative demand curves of cheese. (Hint: Drawing the world relative demand curve in the same diagram of the world…

Question 2 Scarcity is a condition that exists when there is a fixed supply of resources relative to the demand for the product. there is a large demand for a product. resources are not able to meet the entire demand for a product. All of these