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Tài liệu Microeconomics for MBAs 15 ppt

Tài liệu Microeconomics for MBAs 15 ppt

Tài liệu Microeconomics for MBAs 15 ppt

... shirks, little good will result for her, or for the firm, from diligent effort on her part. So no matter what she believes other workers will do, the rational thing for her to do is to capture ... profits are high despite her lack of effort, in which case she receives the highest possible payoff that any one individual can receive of 125.25 Unfortunately for Jane, all workers face payoff ... rounding up the cattle. To provide for these common interests, cattlemen formed associations which sent out patrols to keep out intruders and which were responsible for the roundups. Any cattleman...
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Tài liệu Microeconomics for MBAs 7 pptx

Tài liệu Microeconomics for MBAs 7 pptx

... to look for other reasons, mainly as a means of improving incentives for workers to do as the employer wants. As it turns out, Henry Ford was not offering his workers something extra for nothing ... of the wage would be returned in the form of greater production and sales and even greater job security for workers. But there were other benefits for Ford. When workers are paid exactly ... 26 The nearly $3 Ford paid above the market was, in effect, a premium he had to pay in order to enforce the strict rules for employment eligibility he imposed. Ford’s so-called Sociology...
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Tài liệu Microeconomics for MBAs 11 ppt

Tài liệu Microeconomics for MBAs 11 ppt

... edict specifying maximum prices for everything from poultry to gold, and maximum wages for everyone from lawyers to the cleaners of sewer systems. The penalty for violating the edict was death. ... demonstrated a knack for bringing new products to market quickly. However, we mention the keiretsu organizational form here only because of one of its more unheralded benefits: it is a form of business ... (ibid., p. 164). 13 This explanation for long term contracting has been argued at length by Ronald P. Dore, Taking Japan Seriously (Stanford, Calif.: Stanford University Press, 1987). 14 Ibid.,...
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Tài liệu Microeconomics for MBAs 16 pptx

Tài liệu Microeconomics for MBAs 16 pptx

... ways, and many of their differences have important implications for the type of productive efforts for which they are best suited. For example, both of the authors would have liked to have been ... been paid. As the boss, the owner is responsible for monitoring the workers to see if each one of them is properly performing his or her job, and for applying the appropriate penalties (or encouragement) ... absence of direct, close-at-hand residual claimants.30 If, for example, a public agency managed to perform the same service for a hundred thousand dollars a year less than in previous years,...
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Tài liệu Microeconomics for MBAs 58 ppt

Tài liệu Microeconomics for MBAs 58 ppt

... quotas is that quotas are typically specified for each important foreign producer. Otherwise, all foreign producers would rush to sell their goods before the quota was reached. When quotas are ... 1984 and 1985. Tariffs, on the other hand, force foreign firms to lower their prices to offset the increase from the tariff. They also generate income for the federal government. Although tariffs ... an arrangement. Before trade, the United States produces 15 units of textiles and 45 of beef; Japan produces 3 units of textiles and 22 of beef. Total production is therefore 18 units of textiles...
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Tài liệu Microeconomics for MBAs 59 pptx

Tài liệu Microeconomics for MBAs 59 pptx

... dollar holdings of foreign banks. So will American expenditures abroad whether for tours or for foreign stocks and bonds. Americans must have francs for such transactions; therefore, they must ... national defense, have lobbied for protection from foreign oil in wartime, the effects of a tariff are not entirely straightforward as might be thought. By making foreign oil more expensive, ... bargaining tool in its efforts to reduce U.S. support for Israel. President Gerald Ford responded in 1974 by supporting a tariff on imported oil, to stimulate exploration for new domestic energy...
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Tài liệu Microeconomics for MBAs 19 pptx

Tài liệu Microeconomics for MBAs 19 pptx

... dismisses for being wrongheaded or for not being important.5 What Coase was interested in, however, was not a catalogue of “small” explanations for this or that firm, but an explanation for the ... always look for competitive bids from alternative suppliers for everything used whether in the form of parts to be assembled, accounting and computer services to be used, or, for that matter, ... would measure the effort expended. Total effort for all workers combined increased as workers were added to the group doing the pulling at the same time that the individual efforts of the workers...
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Tài liệu Microeconomics for MBAs 21 ppt

Tài liệu Microeconomics for MBAs 21 ppt

... rather than be forced to pay a higher than expected price for the input. This is exactly the arrangement that automobile companies have with some of their suppliers. Ford, for example, buys ... percent of its parts in-house in the mid 1990s, versus 50 percent for Ford (the second lowest-cost American producer) and 70 percent for General Motors. Toyota produces only 25 percent of its parts ... for Firm Incentives 26 Any price between $125 and $150 million a year would be attractive to both investors in the pipeline and the electric generating plant that would use it. If, for...
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Tài liệu Microeconomics for MBAs 23 pptx

Tài liệu Microeconomics for MBAs 23 pptx

... Reasons for Firm Incentives 46 Nevertheless, we might expect employers to pay for specific human capital when they have a reputation for fair and honest dealing. As we have argued before, ... of being around for a number of years. Financially shaky firms in highly unstable markets are going to be reluctant to pay for the cost of their workers’ MBAs. Credit will, for them, be hard ... income in deferred forms and will not likely have strong expectations of a long career with their companies, factors that reinforce the tendency of workers to pay for their own MBAs. All in all,...
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Tài liệu Microeconomics for MBAs 24 pptx

Tài liệu Microeconomics for MBAs 24 pptx

... A, for example, must pay $100 to eliminate the first unit of sulfur dioxide and $200 to eliminate the second. Firm B must pay $200 for the first unit and $600 for the second. Although the information ... people pay for them every year shows that there is a demand, illustrated by curve D1 in Figure 7.3. In getting shots for themselves, however, people also provide external benefits for others. ... without paying for its use. Costs that are not borne by users, of course, are passed on to others as external costs. When public land was open to grazing in the West 150 years ago, for instance,...
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