Microeconomics for MBAs 50

... 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 ... your MBA classmates, for example, you will probably find that more of them would be willing to work at a job that paid $50 an hour than would work for $20 an hour. (At $500 an hour, m...

Ngày tải lên: 24/10/2013, 18:15

... 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 first ... the case of takeovers. But there are possibilities for overlap that are worth noting. A justification for a controversial severance-pay contract for top managers is based on the desirabi...

Ngày tải lên: 18/10/2013, 00:15

... Cost Megawatts Marginal Cost Total Cost [(3) ÷ (1)] (1) (2) (3) (4) 1 $50 $ 50 $50 2 40 90 45 3 30 120 40 4 20 140 35 5 10 150 30 Figure 14.3 shows these same curves along with the electric company’s ... cost of producing each additional megawatt, shown in column 2, decreases from $50 for the first megawatt to $10 for the fifth. Though the average cost of the first unit is equal to...

Ngày tải lên: 20/10/2013, 20:15

... 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

... 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 demand for ... more foreign imports, both directly and in the form of domestic goods that incorporate foreign parts or materials. Either way, an increase in real incomes leads to an increase in the dem...

Ngày tải lên: 24/10/2013, 18:15

... abusive 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, ... made. Before this restriction went into effect, a customer got a refund for a beat-up thermos that Wal-Mart later learned from the manufacturer had been purchased in the 1950s, long bef...

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 ... raised if he or she is paid $5 for each piece produced. If the worker responds by increasing his output to 150 pieces, the management can simply lower the rate to $3 .50 per...

Ngày tải lên: 29/10/2013, 01:15