sellers interact strategically with each other. Each player tries to guess which the competitor is trying to do. There are usually a small amount of large firms and they usually control the market. Competitive firms will use the firms marginal cost to produce the price. The price of the good must be lower than the cost to produce it. To maximize the profits is when the price is equal to the marginal cost of production. The competitive firm must be producing at the point where price equals marginal
Premium Economics Monopoly Perfect competition
(section 1) Module 1 E 1-1 1 a 2 c 3 d 4 c 5 b 6 c 7 d 8 a 9 b 10 c P 1-1 a. Wages Interest Add Equip 6‚000‚000 500‚000 900‚000 7‚400‚000 b. Wages Interest 6‚000‚000 500‚000 6‚500‚000 c. Bonds Wages Interest 6‚000‚000 500‚000 10‚000‚000 16‚500‚000 E 1-2 b b d b b c c b a b d. The cash basis of accounting requires the company to expense the entire $10 million of equipment in year ten. The taxpayers of the tenth year incur the entire expense rather than depreciating $1 million per year. P 1-2 1. The
Premium Generally Accepted Accounting Principles Finance
A01 Profit and loss account: A profit and loss account calculates the amount of gross and net profit that a business takes on an annual basis; it also outlines the loss which has occurred through the business‚ through necessary overheads. There are many aspects included within a profit and loss account‚ all of which I am going to briefly explain. It is important to have a profit and loss account within a business to enforce correct usage of the money. The company will be able to see where the business
Premium Generally Accepted Accounting Principles
minimum efficient scale (MES)The minimum efficient scale (MES) is the output for a business in the long run where the internal economies of scale have been fully exploited. It corresponds to the lowest point on the long run average total cost curve and is also known as the output of long run productive efficiency. The MES is rarely a single output - more likely it is a range of output levels where average cost is minimized where the firm achieves constant returns to scale. The MES will vary from
Premium Economics Average cost Cost
The monthly giving programs have become very popular among non-profits because of their potential for long term financial commitments. This recurring giving is a monthly donation that happens automatically using a process that’s referred to as E.M.T (Electronic Money Transfer.) This valuable program provides a predictable source of income that a non-profit can depend on every month without question. Recruiting monthly donors is inexpensive and affordable. Once set up‚ the donation process is electronic
Premium Non-profit organization Giving Gift
------------------------------------------------- The Rebellion of Satan in John Milton’s Paradise Lost Paradise Lost is the famous epic by 17th-century English poet John Milton. The poem concerns the Biblical story of the Man: the story of the fallen angel Satan‚ head of the rebellious angels who have just fallen from Heaven along with the rest of the rebel angels and how he tempted Adam and Eve to eat of the forbidden fruit and fall from grace. As the poem’s antagonist‚ Satan is the originator
Premium Paradise Lost Adam and Eve Hell
Economic Profit and Accounting Profit When it comes to business decisions‚ there are many ways to analysis the financial status of a firm. What guidelines determine profit margin? Who uses these guidelines? How is profit used to analysis a firm and its business decisions? This paper will discuss two terms that are used to define profit: accounting profit and economic profit. The first term is called accounting profit which uses the equa-tion. The second term for profit is economic profit. Economic
Premium Profit Marketing
Cited: Holy Bible‚ new revised standard version. New York: Oxford University Press‚ Inc. 1977. Shelley‚ Mary. Frankenstein: The Presence of Others. Boston: Bedford/St. Martin’s. 2000. Bishop‚ J. Michael. Enemies of Promise: The Presence of Others. Boston: Bedford/St. Martin’s
Premium Garden of Eden God Adam and Eve
Homework Should be Reduced Homework has been around for as long as there have been tax paying schools. The first person to create homework was Robert Nevilis from Italy in 1905 (Roberto). Over the years that homework has been around‚ people have gotten different impressions and opinions on the topic. Most students believe it is way too much and unnecessary. Teachers believe that homework is very useful and beneficial for the students. While other faculty members believe it is a waste of time. Teachers
Premium Education High school School
Is Integrity Lost? Critics today are worrying if students are receiving their actual earned grades in highschool and in college. Based on Stuart Rojstaczer and Christopher Healy’s research‚ along with many others‚ grade inflation is a legitimate problem occurring in the United States. According to this research‚ grading inflation has been on the rise since the 1960’s. In Arthur Levine and Diane Dean’s article‚ ‘Why Grade Inflation (even at Harvard) Is a Big Problem’‚ they state that‚ "In
Premium Education Grade University