1. Gregorowicz and Hegji (1998).
2.For a more thorough critique of the managerial economics curriculum, see Marburger (2011).
2.U.S. Food and Drug Administration (2009).
1.Energy Information Administration (2011).
4.Economists often use regression analysis to statistically estimate a demand curve. When estimated accurately, it allows for a more precise measurement of the elasticity coefficient.
1.For simplicity’s sake, this analysis admittedly omits the opportunity cost of Wendy’s time. If the price is not high enough, she may opt for leisure time.
1.Converting the example to reflect manufacturing is straightforward. Instead of making production ...