Q: Learning how to use software takes time. So once customers have
Learning how to use software takes time. So once customers have learned to use a particular software package, it is easier to sell them software upgrades than to convince them to switch to new softwar...
See AnswerQ: To save money, some fast food chains are now having their
To save money, some fast food chains are now having their customers place their orders at computer kiosks. Will the kiosks necessarily reduce the total number of workers employed in the fast food indu...
See AnswerQ: A software company in Silicon Valley uses programmers (labor) and
A software company in Silicon Valley uses programmers (labor) and computers (capital) to produce apps for mobile devices. The firm estimates that when it comes to labor, MPL = 5 apps per month while P...
See AnswerQ: Have you ever worked for the minimum wage? If so,
Have you ever worked for the minimum wage? If so, for how long? Would you favor increasing the minimum wage by a dollar? By two dollars? By five dollars? Explain your reasoning.
See AnswerQ: Suppose that the United States has a Gini ratio of 0.
Suppose that the United States has a Gini ratio of 0.41 while Sweden has a Gini ratio of 0.31. Which country has a more equal distribution of income? a. The United States. b. Sweden. c. They are actu...
See AnswerQ: Manny owns a local fast-food franchise. Angel runs it
Manny owns a local fast-food franchise. Angel runs it for him. So in this situation, Manny is the ____________ and Angel is the ________________. a. Free rider; entrepreneur. b. Agent; principal. c....
See AnswerQ: Here is the deal: You can pay your college tuition at
Here is the deal: You can pay your college tuition at the beginning of the academic year or the same amount at the end of the academic year. You either already have the money in an interest-bearing ac...
See AnswerQ: Entrepreneurs are the residual claimants at their respective firms. This means
Entrepreneurs are the residual claimants at their respective firms. This means that they: a. Only get paid if there is any money left over after all the other factors of production have been paid. b....
See AnswerQ: Recall the model of nonrenewable resource extraction presented in Figure 19.
Recall the model of nonrenewable resource extraction presented in Figure 19.7. Suppose that a technological breakthrough means that extraction costs will fall in the future (but not in the present). W...
See AnswerQ: How do the top two categories of federal employment differ from the
How do the top two categories of federal employment differ from the top two categories of local and state employment?
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