One reason that organizations need performance measures is to drive strategies
and organizational change.
Data and measurement are equivalent.
Information is derived from the
Price Elasticity of Demand (
In Figure 4.1(a), an increase in supply brings
A large fall in price
A small increase in the quantity demanded
Price Elasticity of Demand
In Figure 4.1(b), an i
ncrease in supply bri
A small fall in price
A large in
HW2 Due 11/29/2016 Tuesday in the beginning of class
1. Please show that when imposing A Tax on Buyers:
Perfectly inelastic demand: Buyers pay the entire tax.
Perfectly elastic demand: Sellers pay the entire tax.
Perfectly inelastic supply: Sellers
List some examples of the scarcity that you face.
: 50 50 50
2. Apple Inc. decides to make iTunes freely available in unlimited quantities.
a. Does Apples decision change the incentives that people face?
b. Is Apples dec
HW1 Due 10/18/2016 Tuesday in the beginning of class
1. List some examples of the scarcity that you face.
Examples of scarcity common to students include not enough income to
afford both tuition and a nice car, not enough learning capacity to study
Department of Political Science Chap.5 Economics Name
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) If the marginal cost of producing hair styling decreases, then the efficient quantity of hair s
Long-Run Effects of Money on
Real GDP and the Price Level
In the long run, real GDP equals potential GDP.
An increase in the quantity of money at full employment
increases real GDP and raises the price level.
The money wage rate rises, which decreases sho
Classical Growth Theory ( )
Classical growth theory is the view that real GDP growth
is temporary and that when real GDP per person rises
above the subsistence ( ) level, a population explosion
brings real GDP per
Marginal Utility and
After studying this chapter you will be able to
Explain the connection between utility and indifference
Explain why maximizing utility is the same as choosing
the best affordable point