Microeconomics for MBAs pptx
Microeconomics for MBAs pptx
... 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, ... Indians hunted animals for their skins, the demand and, therefore, the price of animal skins increased. This provided an incentive for the Indians to hunt beyond their demand for meat. Under communal ... 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 West” when formally...
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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 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 ... 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, ... 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)...
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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
... 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 ... the rope, the individual effort averaged 84 percent of the effort expended by one worker. With eight workers pulling, the average individual effort was one-half the effort of the one worker.10 ... 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,...
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Tài liệu Microeconomics for MBAs 23 pptx
... 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, ... up a lot for it. The problem is that the cost may be greater than the benefit. If workers are forced to take a fringe because it is “important,” then they could be forced to pay more for something...
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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 ... enactment and enforcement of law. The justification for all collective action, for government, lies in its ability to make men better off. This is where any discussion of the bases for collective ... much or for long if the incentives are not right. In their effort to get incentives right, it is altogether understandable why some firms will cover the cost of the MBA degree program for some...
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Tài liệu Microeconomics for MBAs 30 pptx
... your recruiting efforts on the candidate with the smallest house. Why? You can get that candidate for a lower salary, everything else equal. He or she has a low preference for housing, as revealed ... applications will write for an operating system with a very limited number of users, given the prospects of few sales for their applications. However, the applications written for the operating system ... Jolla on a one-tenth of an acre lot, for example, sells for about $500,000. Approximately the same house can be bought in Six Mile (with much more land) for $100,000. The engineer you are...
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Tài liệu Microeconomics for MBAs 31 pptx
... marginal cost of a bushel of tomatoes will decline from $10 for the first bushel to $5 for the second before rising to $10 again for the third bushel. That is, increasing marginal costs (or ... Obviously the demand for property is much higher in La Jolla than in Six Mile, which implies that a lot of people must see some added benefits for being in La Jolla. This implies that for a lot of ... are not compensated for in Six Mile. The first rule of management (and other disciplines) has sometimes been stated as, “Different Strokes for Different Folks.” In our foregoing discussion,...
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Tài liệu Microeconomics for MBAs 32 pptx
... than costs for Chapter 9 Production Costs and Business Decisions 14 a particular service – healthcare responding to the market forces of supply and demand. Unfortunately, the forces have ... Therefore Gary will catch no more than five fish. From the positions of the two curves, we can see that Gary will catch up to five fish before he packs up his rod and heads for home. ... the cost of the one before. Gary will confront an upward-sloping marginal cost curve like the one in Figure 9.3. Gary’s demand curve for fishing will slope downward, for as the cost of catching...
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