A competitive firm produces output y. Some of its output is defective and cannot be sold. That is, only a fraction θ E (0, 1) can be sold in the market at unit price p. Let the cost function be c(y), with (y) 0 and c"() >0. Suppose that with experience, the share of good output θ increases. Does the firm compensate for the increased yield by reducing production, or will it instead increase production?

If you were running a company, what are at least two things you could do to improve its productivity.

“strategy, plans, and budgets are unrelated to one another.” do you agree? explain. explain how the manager’s choice of the type of responsibility center (cost, revenue, profit, or investment) affects the behavior of other employees.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively