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According to its annual report, as of January 31, 2012, Target's borrowing costs averaged 4.6 percent, and its tax rate was 34.27 percent. A research report estimated Target's cost of capital at 10.5 percent. The firm had interest-bearing debt of $17,483. Moreover, Target's stock was trading at $50.81 per share, and there were 679.1 million shares outstanding. Now, let's assume Target's amount of debt is also a market value estimate of the debt. Let's also assume the current debt and equity values are at Target's optimal capital structure. 1. Based on market value estimates, what is Target's cost of capital?
Burger King and Wendy’s are engaging into the following one-shot game: if Burger King advertises and Wendy’s does not, Burger King will make $20 million in profits and Wendy’s will make $6 million. Write the payoff matrix for the above game. Does Bur..
Some people seem to believe that there are goods for which the law of demand is irrelevant, goods that people just “can’t do without.” Why do economists believe that the law of demand applies to all goods.
The owner of a baseball team and local stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 - 0.2Q, where P is the price of a ticket and Q represents the number of seats (expressed in thous..
What common assumptions guide the Thucydides and Procopius readings regarding how a historian should chronicle a plague? What different assumptions do they possess about both human behavior and the role divine forces play in human history? How do bot..
What is the required endowment if the university will earn 6% interest on the funds?
The firm's average variable costs and average fixed costs per month are R200-00 and R500-00, respectively.
What is the cross price elasticity with respect to good x? What does the sign of the coefficient tell us? Interpret your results.
According to a study, the price elasticity of clothing in the United States is 0.6, and the income elasticity is 1.4. Would you suggest that the ABC clothing company cut its price to increase its revenue?
Some people believe that monetary policy should be made by rule rather than by discretion.
A monopoly is a market in which one firm sells a good or service that has no close substitutes and a barrier blocks the entry of new firms. In addition, as noted in “Are Microsoft’s Prices Too High?", Microsoft’s prices are too high in the sense that..
On each of the following grounds, briefly rationalize an economist's objection to the term "behavioural economics":
Offshore production is a trend of assembly of a good in another country and then shipping it back to the US (or the primary sales market). Offshoring became popular in the late 1970s and was an issue in the recent presidential elections. Say you have..
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