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- Define the statement. Whether correct or incorrect. The production of a firm is diminishing due to the poor technology. This is macroeconomic issue.You are required to consider the impact of the macro‐environment to the business prior to the launch of your product. Discuss any four variables in the macro‐environment you believe to have the most impact on the CBD oil market.In the short‑run specific‑factors model, consider a decrease in the stock of land. For example, suppose a natural disaster decreases the quantity of arable land used for planting crops. Round values to the nearest one-half unit. a. Demonstrate a change in the supply of land on the accompanying graph. b. New equilibrium wage is? c. New quantity of agricultural labor is?
- How does the supply side of the market relate to the real world of business in relation to managerial economics?Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier respective impacts on the rate of the nation's economic growth b) the effect of government regulations on car emissions c) the decision by Mc Donalds to hire fewer workers becuase of an increase in the minimum wage d) the stock market plunges by 1000 points due to uncertaintyManagerial economic is the integration of economic theory with business practice for purposes of facilitating decision-making and forward planning by management. Along this line, outline the nature of managerial economics. Business cycle or trade cycle refers to the fluctuations in economic activity and understanding of this is very important for managers to make the right decision for his organization. Discuss the random and cyclical fluctuations as well as the sequence of changes in business cycle. The demand and supply of a commodity are always affected by the change in price of the commodity. Related to this, what are the factors that affect price decisions of management in an organization. Discuss in these factors that influence managerial decision in pricing of their products.
- What is the difference between factor cost and market price? According to macro economics?Economics Modify the Lewis model and assume that there is a strictly positive marginal product of labor in the traditional sector. Use figures with production functions in the traditional and the modern sectors to show what the equilibrium is when no one wants to move away from agriculture. What assumptions do you have to make about production functions to arrive at the conclusion that fewer people will end up in agriculture? Use the same starting point as in the above question. Derive the demand for labor in the traditional and in the modern sectors. Show graphically what the characteristics of the equilibrium would look like when no one wants to change sectors.What does it mean if a shadow price is negative? Select one: a. It means the model is implemented incorrectly b. It means that by increasing the resource, cost will increase c. It means that we must decrease the minimum requirement of a resource to increase more profit d. Shadow price can never be negative e. It means that by increasing the resource amount we will earn more profit