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Exercise 1) Evaluation of Inventory: A company has collected the following data from the purchase and use of heating fuel from its Business Statistics department for inventory management of the previous year: Date Amount purchased (liters) Purchase Price (EUR/liter) 12.1.2006 15000 0,80 14.2,2006 20000 0,75 25.3.2006 6000 0,81 28.6.2006 18000 0,90 29.8.2006 33000 0,76 Date Amount used/consumed (liters) 30.9.2006 7000 31.10,2006 23000 30.11.2006 9000 31.12.2006 11000 a) Calculate the cost/use of material sold for the material(energy): Based on the following evaluation methods: - FIFO - HIFO - LIFO - average price b) Book the transaction for the consumption of the fuel at the 31.12.2006 (1.1.-31.12.2006) correctly by using the FIFO-method and indicate the effect on the profit! (All the purchases of the fuel have been recorded yet!)
To what effect (income or substitution) do you attribute the change in utility levels between part a and part b?
What will price and ouput be if there is no dominant firm Now assume that there is a dominant firm, whose marginal cost is constant at $6. Derive the residualdemand curve that it faces and calculate ots profit-maximizing output and price.
Give two reasons why can't we compare people with different levels of labor market earnings to measure the income effect for retirement? Make sure to distinguish income and substitution (or price) effects.
management has recognized the effect of changes in the real-world competitive environment and government policies on
a) What is the socially efficient level of security?
dr. fine and dr. feelgood are the only two medical doctors offering immediate walk-in medical services in the town of
Choose a product you have purchased in the past month from a clothing or shoe store.
Compute the unit price if the ventor sold 200 CDs. Compute the demand curve for CD. Calculate the fixed and variable costs. Calculate the break even quantities (number of CDS).
Is there any difference between the two approaches of the Keynesian theory and the new Keynesian theory in terms of short-run implications? What are the long-run implications on price level and GDP?
Suppose you are the manager of a California winery. How would you expect the following events to affect the price you receive for a bottle of wine?
write 400-600 words that respond to the following questions with your thoughts ideas and comments. this will be the
Consider three markets: M1, M2, and M3. There are features of these markets that the Department of Justice observes and features the Department of Justice does not observe. The DOJ observes that M1, M2, and M3 have one
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