Afirm operating in a market economy has a strong incentive to be productively efficient and allocatively efficient because the former enables it to minimize production costswhile the latter ensures it of ample revenues. if a firm is productively and allocativelyefficient, it earns a profit; if it is not, it suffers a loss. would you expect the new and better machinery and equipment to be adopted more rapidly in amarket economy or in a centrally planned economy?

Find a company that has followed a strong strategic direction- state that generic strategy and the back-up points to support your position.

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x, y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.