Microeconomics for MBAs 48

... explained as an indirect form of taxation—in the sense that taxation is the government’s means of extracting money to pay for what are viewed as public goods and services. For example, until 1978, ... services and drugs, where the need for regulation has seldom been challenged, its value to the consumer is now being questioned. Does regulation affect the competitive performance of an in...

Ngày tải lên: 20/10/2013, 20:15

... percent of the workforce, and were typically far less than that. Also, it was estimated that the probability of being laid off was 70 percent higher for white-collar workers than for blue-collar ... offered more for the corporation’s stock than the current price. The first bidder is not necessarily the one best able to improve the performance of the target corporation, and therefore the...

Ngày tải lên: 18/10/2013, 00:15

... was re-controlled in 1984 for two more years. Starting January 1, 1985, all gas discovered after April 20, 1977 was deregulated, while gas discovered before this date was for the most part—not deregulated. ... securities by corporations and disclosure of information relating to those issuances. The commission has five members, who are appointed by the president for terms of five years. I...

Ngày tải lên: 20/10/2013, 20:15

... process for prices in general. As U.S. demand for foreign goods rises, the demand curve for francs shifts outward from D 1 to D 2 , shifting the equilibrium from E 1 to E 2 . As foreign ... prices of foreign and domestic goods change. If prices increase faster in the United States, for example, Americans will want to buy more foreign goods and fewer domestic goods. Foreigner...

Ngày tải lên: 24/10/2013, 18:15

... customers can make work a form of “hell” for the workers. If forced to take excessive abuse, the workers would, no doubt, demand higher wages to compensate them for this abuse. At some point, ... service that developed a reputation for yielding to client pressure for higher ratings would cease to have the credibility that its clients are paying for. So, in the bond rating busin...

Ngày tải lên: 24/10/2013, 18:15

... a demand for the products and services they offer. The greater the demand for the products and the greater the demand for the labor needed to produce it and the greater the demand for a given ... for jobs offering non- monetary benefits—S 2 rather than S 1 . Given a constant demand for labor, the wage rate will be W 2 for workers who do not receive nonmonetary benefits an...

Ngày tải lên: 24/10/2013, 18:15

... in different bungalows. A priest, for example, found that he could exchange a pack of cigarettes for a pound of cheese in one bungalow, trade the cheese for a pack and a half of cigarettes ... their holdings of cigarettes, prices fell. Radford saw a form of social order emerging in these spontaneous, voluntary, and completely undirected efforts. Even in this unlikely environment,...

Ngày tải lên: 29/10/2013, 01:15

... 2 papayas for a coconut; Harry would be better off if he could give up fewer than 4 papayas for a coconut. If, for example, they agree to trade at the exchange rate of 1 coconut for 3 papayas, ... government enforcement for the protection and legitimacy of private property rights? Our answer must of necessity be somewhat speculative. We know that markets existed in the “Old Wes...

Ngày tải lên: 29/10/2013, 01:15

... to employees. If farmers are forced to provide better housing for their laborers, they must reduce costs in other ways, including the substitution of machinery for labor. This is precisely ... cheaper for me to continue using migrant help for a few more years, but mechanization is the trend of the future. And no matter what kind of housing I provide I’m going to be criticized for...

Ngày tải lên: 29/10/2013, 01:15

... Monopsonistic Labor Markets 25 worker with $487 .50 for the week, or a 2.5 percent reduction in pay for a 25 percent reduction in effort. The lesson of this discussion is not that piece-rate ... Monopsonistic Labor Markets 26 effort workers apply, then the standard can be raised. Workers should not object. They are still getting their value for their effort. Th...

Ngày tải lên: 29/10/2013, 01:15