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What specific incentives are used in the workplace to promote efficiency? How can an X-inefficiency firm be motivated to increase its efficiency?

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How can technological change affect market structure? Which market structure is best suited for technological innovation? Explain.

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How does technology affect real-world competition?

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How does globalization affect real-world competition?

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Who are the winners and losers when the government imposes tariffs and quotas?

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1. Regarding utility: a. the total satisfaction one gets from one's consumption is called marginal utility. b. if you buy one Big Mac that gives you marginal utility of 400 and a second one that gives you marginal utility of 250, total utility of eating two Big Macs is 650. c. according to the law of diminishing marginal ...continues

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11. Economies of scale: a. means that per unit costs decrease as output increases in the long run. b. are caused by loss of team spirit as a firm expands in size. c. is the result of mismeasurement of opportunity costs. d. occur when per unit costs increase as one input is added to production. 12. Kellogg's, the bre ...continues

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21. The government's use of the judgment by performance criterion: a. advocates that competition is fragile and that there must be a large number of small firms selling in the market to ensure competition. b. is reflected by the idea that bigness of business does not necessarily imply the absence of market competition. c. ...continues

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5 problems for microeconomics - attached - one problem per page

I don't know where to start

1. Alex's preferences for bagels and wine can be isolated and examined. Assume that Alex's budget is $200. Bagels cost $2.00 each and wine costs $10.00 per liter. Assume that Alex spends all of his income on bagels and wine in order to maximize his total utility. a) Write the equation for his budget line. What is the slope of t ...continues