Download and read “The Social Responsibility of Business is to Increase its Profits” by Milton Friedman which is the basis for the ‘shareholder value theory’ that would dominate business and business school thinking from the 1970s into the new century. Do you think that Friedman’s argument is valid? Some things to consider: What is the […]
Category Archives: Economics
Explain From the table can we obtain a long run perfectly competitive equilibrium price and quantity?
Find the MR and MC for different quantities of production and enter your answers on the table. Find the monopolist’s equilibrium quantity and price. iii. Explain From the table can we obtain a long run perfectly competitive equilibrium price and quantity? Explain why or why not. (HINT: In long run perfect competition leads to zero […]
What is the rate of growth and which formula is used to calculate it?
Task One Calculate the rate of growth of the exchange rates between two currencies using exchange rate data on your selected countries. Before doing so, answer the following question. What is the rate of growth and which formula is used to calculate it? Display the rates of growth of the exchange rates between the two […]
Explain inflation. Is zero inflation good target?
12.1 Learning Outcomes: Recognize fiscal policy as an important tool of government intervention in a market economy. Recognize monetary policy as an important tool of government intervention in a market economy. Evaluate effects of changes in a tax policy. 12.2 Action Required: Watch the video using the following link: (908) Introduction to inflation | Inflation […]
What combinations of robot and worker hours must they use to minimize costs?
Problem 1: Short-Run Profit Maximization [10 points] Consider a firm that uses both capital (K) and labour (L) to produce a final product (Q) that it sells at the market price $5. The firm buys Labour at a cost of $4 per unit and capital at a cost of $10 per unit. The firm is […]
What is the marginal product, in terms of wedding cakes, of the ninth employee?
1-Explain the difference between the price effect and the output effect when a new firm enters a market. 2-Lola is the owner of a bakery that earns 0 (zero) economic profit. Last year, her total revenue was $165,000, her rent was $10,000, her labor costs were $85,000, and her overhead expenses were $11,000. What were […]
Define and summarize what financial inclusion entails (i.e. the overall goal and individual products / interventions under consideration)
Read the following pieces on “financial inclusion”: https://www.worldbank.org/en/topic/financialinclusion/overview https://blogs.worldbank.org/allaboutfinance/what-do-we-know-about-link-between-financial- inclusion-and-inclusive-growth https://www.vox.com/future-perfect/2019/1/15/18182167/microcredit-microfinance-poverty- grameen-bank-yunus Using these resources and the evidence covered in lectures please i) Define and summarize what financial inclusion entails (i.e. the overall goal and individual products / interventions under consideration) ii) Review evidence for the effectiveness of the individual financial products (i.e. what do […]
Describe the role government should play in correcting for market failures.
Describe the role government should play in correcting for market failures. Make sure to apply Saint Leo’s Core Values to your analysis, remembering that responsible stewardship calls on us to be ‘resourceful’. You should cite specific examples and applications, and take a clear stand on whether you believe the actions of government work towards resolving […]
Discuss the argument that the FDIC may not have been needed as a deterrent to bank failures.
Read and respond to the article “Depression Era Bank Failures: The Great Contagion or the Great Shakeout?” by John R. Walter. Discuss the argument that the FDIC may not have been needed as a deterrent to bank failures.
Choose company and calculate the cost of production with Two Outputs
Choose company and calculate the cost of production with Two Outputs: • Cost in the Short Run, • Cost in the Long Run, • Long-Run versus Short-Run Cost Curves, Production with Two Outputs Economies of Scope
