Is behavioral economics more or less applicable in public policy than in private, for-profit business settings?
What will be an ideal response?
Ans: Good answers should highlight two key issues: (1) the danger of governments deciding what is socially beneficial and (2) the danger of companies using behavioral economics to mislead consumers in the private sector.
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Anna operates a consignment shop where she sells clothes for women and children. The average number of consignments sold per month is 1,000. The average material cost and the selling price of each consignment are $8 and $20, respectively. The monthly fixed costs to run this business are given below: Rental cost: $750Utilities: $150Advertising: $35Insurance: $100Labor cost: $4,000 a. Build an influence diagram that illustrates how to calculate profit.b. Using mathematical notation, give a mathematical model for calculating profit.c. Implement your model from part (b) in Excel using the principles of good spreadsheet design.
What will be an ideal response?
Most companies prohibit the use of wikis among employees as a form of internal communication
Indicate whether the statement is true or false
Assuming concurrent jurisdiction, which of the following is not an example of when federal preemption exists?
a. The federal government establishes a comprehensive scheme to regulate the area. b. Congress expressly preempts the area through legislation. c. The federal government regulates the area before the state. d. State law is inconsistent with federal law.
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year:Raw MaterialsBeg Bal5150? 9300? 5350? Work in ProcessBeg Bal4250? 22,350? 6350? 8650? 8450? Finished GoodsBeg Bal2350? 20,550? 22,350? Manufacturing Overhead 2950? 8450? 3650? 3350? Wages & Salaries Payable 20,550?Beg Bal2650? 12,300? Cost of Goods SoldBeg Bal20,550? The manufacturing overhead was:
A. $1500 underapplied B. $3350 overapplied C. $3350 underapplied D. $1500 overapplied