The price elasticity of demand measure is generally stated as an absolute value
a. True
b. False
Indicate whether the statement is true or false
True
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A corporate executive makes the following statement – "The company must keep hiring more workers up to the point where the marginal productivity of the last worker we hire is zero. This way we can maximize the total productivity of the firm
" Critically evaluate this statement. Also comment on whether this is the correct objective function for the firm.
The landmark antitrust case which established that size alone is not sufficient to prove an antitrust violation is the:
A. U.S. Steel case. B. Brown Shoe case. C. Von's Grocery case. D. ALCOA case.
Many professors have a policy that punishes individuals if they don't come to class. Instead of punishing students who don't attend class, what could the professor do to provide a positive incentive to come to class?
What will be an ideal response?
Donnie's Donuts incurs $450,000 per year in explicit costs and $200,000 in implicit costs. The bakery earns $800,000 in revenues and has $2 million in net worth. Based on this information, what is the economic profit for Donnie's Donuts?
A) $150,000 B) $350,000 C) $600,000 D) $1.2 million