"Recession" refers to a period when real GDP in the economy
A) declines for at least six months. B) grows rapidly.
C) experiences a rise in living standards. D) suffers due to political instability.
A
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A manufacturer of industrial paper shredders can make its machines safer by adding a laser-sensored kill switch to its products. Adding the kill switch costs $17 per machine
The manufacturer estimates that this will prevent 50 injuries for every 30,000 paper shredders sold and that, on average, each injury causes $5,500 of harm. What is the injury cost per paper shredder? Explain whether the manufacturer should or should not add the kill switch to the paper shredder.
Supplier power tends to be low when
a. The supplier provides critical inputs b. The supplier provides homogenous inputs c. Both A&B d. None of the above