Tài liệu Microeconomics for MBAs 27 docx
Tài liệu Microeconomics for MBAs 27 docx
... There are two formulas for elasticity, one for use at specific points on the curve
and one for measuring average elasticity between two points, called arc elasticity. The
formula for point elasticity, ... prices are
not always the best policy. For example, if a firm sells fifty units of a product for $1, its
total revenue (consumers’ total expenditures) for the product will...
Tài liệu Microeconomics for MBAs 9 docx
... mathematical formula for computing the present value of future costs or benefits received one year
from now is PV = [1/(1 + r)] f, where PV stands for present value, r for the rater of interest, and f for ... benefits in a graph.
10. Henry Ford more than doubled his workers’ wages. Did worker real income double by
Ford’s pay policy? Reflecting on the general principles behind Ford’...
Tài liệu Microeconomics for MBAs 10 docx
... on that
information. People cannot assimilate all the information they need to make
rational choices, however. People do lack information, and they could make
better choices if information ... payments and fringe
benefits for unionized retirees at the same time they negotiate the pay packages for the
current workers. Even when retirement benefits are fixed for retirees’ lives, the...
Tài liệu Microeconomics for MBAs 12 docx
... concern for the poor, who
may be unable to afford the information necessary to make an informed choice. The poor
may also be the least capable of understanding technical product information, ... The market demand for information, like the market demand for protective
bumpers, will not fully reflect its social benefits. Because of external benefits, the
quantity of information produc...
Tài liệu Microeconomics for MBAs 18 docx
... tried, which forced the team members to think
competitively, had median initial effort levels on par with the initial effort levels
observed under forcing contracts. However, the effort level ... that the history of the team performance matters: the higher the
team performance at the start, the greater the team performance thereafter (although the
effort level might be declining over ......
Tài liệu Microeconomics for MBAs 22 docx
... uniform amount for each worker and in which the provision of the fringe has no
impact on worker productivity, but increases the value of work and increases the supply of
Chapter 6. Reasons for ...
percentage of monthly sales, for the right to use a brand name and/or trademark for
example, the name “McDonalds” along with the “golden arches.”
Chapter 6. Reasons for Firm Incenti...
Tài liệu Microeconomics for MBAs 25 docx
... economic cost of reducing pollution to ten units is $9,300; $1,500 for
firm A. $800 for B, $3,000 each for C and D, and $1,000 for E. This figure is
Chapter 7 Market Failures: External Costs ... a fully
informed buyer would be willing to pay for them is $3,000, with the other 25 percent
worth $5,000. This means that a buyer with no information on the condition of a car for
sa...
Tài liệu Microeconomics for MBAs 35 docx
... equity come in a variety of forms. Common and preferred stock are the two
major divisions of equity. Debt can take a form that has the “look and feel” of equity. For example, the
much-maligned ... categories of finance (subject to much greater variation
in form than we are able to consider here) available to owners. Owners need to search for
an “optimum combination,” given the feature...
Tài liệu Microeconomics for MBAs 37 docx
... profit incentive for expansion. If it expands before other firms, its lower
average total cost will allow it to make greater profits for a short period of time.
Consider Figure 11.9, for instance. ... others are going to do, for one function of the market is to
generate the pricing and output information people need to interact with one another.
In a world of imperfect informati...
Tài liệu Microeconomics for MBAs 38 docx
... same as before and
are just as willing to work as before) once the additional vacation is provided: 1) the
employer is willing to hire the same number of workers as before if the cost for each ... brackets and with greater
demand for medical care will want more of their compensation in the form of untaxed fringe
benefits such as health insurance. Therefore we can expect employers who...
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