Assignment #4: CHAPTER 3 - Why Do Firms Cluster? 2. Labor Pooling: What’s Fixed and Variable? Consider the model of labor pooling‚ with each firm locating either in an isolated site or in a cluster with other firms. Fill the blanks with "fixed" or "variable". A. In an isolated site‚ the wage is variable and the firm’s workforce is fixed because the supply of labor is perfectly inelastic. B. In a cluster‚ the wage is fixed and the firm’s workforce is variable because the supply of labor is
Premium Supply and demand Firm Automobile
MBA 515 Practice Multiple Choice Questions 1. If the price of automobiles were to increase substantially‚ the demand curve for gasoline would most likely A) shift leftward. B) shift rightward. C) remain unchanged. D) become steeper. 2. Recently‚ many cities have attempted to pass laws taxing the sale of sugary drinks such as soda pop. If one of these laws passes‚ we would expect A) the supply curve for soda pop to shift to the right. B) the supply curve for soda pop to become more vertical
Premium Supply and demand Economics Microeconomics
1：Mercantilists believed that a nation would benefit from achieving: an even trade balance (exports equal to imports). a positive or favorable trade balance (exports larger than imports). as much self-sufficiency as possible (minimal exports and imports). a trade deficit‚ funded by loans from other nations. [我的答案] a positive or favorable trade balance (exports larger than imports). 2：Adam Smith’s theory was based on the labor theory of value‚ assuming that: the value of labor depended
Premium International trade Economics
they increase the productivity with which companies can compete. The development and upgrading of clusters is an important agenda for governments‚ companies‚ and other institutions. Cluster development initiatives are an important new direction in economic policy‚ building on earlier efforts in macroeconomic stabilization‚ privatization‚ market opening‚ and reducing the costs of doing business. Two cluster-related projects are currently underway at the Institute: the Cluster Mapping Project and the International
Premium India Cluster analysis Economic geography
1. Labor Demand curve for Perfect Competition and Labor Demand for Labor for Imperfect Competition * Table 1.1 Demand for Labor: Firm selling in a Perfectly Competitive Product Market Units of Labor | TP | MP | Product Price‚ P | Total Revenue‚ TR | MRP (TR/L) | VMP (MP*P) | 4 | 16 | | $2 | $32 | | | 5 | 28 | 12 | 2 | 56 | $24 | $24 | 6 | 37 | 9 | 2 | 74 | 18 | 18 | 7 | 43 | 6 | 2 | 86 | 12 | 12 | 8 | 46 | 3 | 2 | 92 | 6 | 6 | 9 | 48 | 2 | 2 | 96 | 4 | 4 | * X- Axis
Free Economics Perfect competition Employment
“Economics has never been a science - and it is even less now than a few years ago.”…Paul Samuelson INTRODUCTION Economics is the social science that analyzes the production‚ distribution‚ and consumption of goods and services. A focus of the subject is how economic agents behave or interact and how economies work. A given economy is the result of a process that involves its technological evolution‚ history and social organization‚ as well as its geography‚ natural resource endowment‚ and ecology
Premium Economics
Kelsea Shick Economics October 5‚ 2010 An economic system consists of production‚ distribution/consumption of goods and services of an economy (Grolier). Without any of the above an economy would not become as industrialized and successful as either the
Premium United States Mixed economy Market economy
Quiz 1 1. An increase in the imports of clothing into the U.S from India wills benefits the____________ & hurt the___________. A) U.S. clothing producers; Indian clothing producers B) Indian consumers; Indian clothing producers C) U.S consumers; Indian clothing producers D) U.S consumers; U.S clothing produces 2. Suppose Country A‚ a labor-abundant country‚ produces only wheat & cloth. The following equations illustrate the prices & costs of wheat and cloth in
Premium Economics Supply and demand International trade
Assess the view that making an oligopolistic market more contestable is the best way to improve the efficiency of that market. The theory of perfectly contestable markets was presented as a generalization of the theory of perfectly competitive markets and was presented as providing guidelines for the conduct of regulation‚ namely to allow freedom of entry and exit and to ensure equal access of competitors. An oligopolistic market is a particular market that is controlled by a small number of firms
Free Economics Perfect competition Monopoly
Economic Opportunities in India 1 Economic Opportunities in the Country of India Sean P. Horton International Business 260 Mr. Russell March 22‚ 2009 Economic Opportunities in India 2 Abstract While researching the economic opportunities in the country of India‚ we can see trends‚ such as that of calls being outsourced to India‚ signifying a vision of globalization‚ increased competition and market share. India is poised to become and remain a global competitor in
Premium India Economics Mumbai