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How does economic profit differ from accounting profit? Have you ever considered starting a business? If you were to start your own business someday, describe the revenues and costs you would consider (make sure you are describing economic profit in your analysis).
In your own words, answer these questions about Foreign Exchange Black Market:
Average cost of producing 70 pies in batches of ten is $5.00 per pie and the average cost of producing 80 pies in batches of ten is $4.50 per pie. Elucidate the marginal cost of the 8th batch of pies.
Explain what is meant by stragetic planning. How does the SWOT analysis and the "mission statemaent" fit in the strategic plan?
(i) equilibrium quantities selected by each firm? (ii) the total output and the market price and profit for each firm?
Suppose an environmental regulation costs $400,000 today (one time payment) and would save $1 million worth of health costs 20 years from now. a) Would you recommend the program at a discount rate of 0%? 2%? 10%? b) Which discount rate would industry..
Considering companies operate in their own self interest, should cartels be legal.
The rate of stockturn for Company T in the year 2006 was 12.5. At the start of that year the company held stock to the value of $327,950, and at the end of that year the value of stock held was $300,450.
You are the head of a firm that faces an elastic demand. Illustrate the results on Total Revenue if you decrease your price.
What is your view on copy technology from others ? How shall we preserve business integrity ? What starategies may be applied to protect intellectual properties ?
Quincy lives on ding dongs and seafood salads. The price of ding dongs is 1 dollar per bag and the price of seafood salads is 4 dollars each. Quincy allows himself to spend no more than 23 dollars a day on food. He also restricts his consumption to 3..
Consider an example of a health care market and identify ways it differs from a perfectly competitive market. Do you think these deviations from a perfectly competitive market improves a consumers (ie; patients) economic standing? Why or why not?
Assume Harrison, Carla and Fred have only paintbrushes at their disposal. Illustrate what is the average labor productivity, in terms of square feet per painter-hour, for the three painters taken as a team.
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