Opportunity cost F. Models are simplified versions of reality 1. Making some unrealistic assumption II. PPF Model A. Only 2 goods: computers and cars (don’t care about the cost yet) B. Resources and technological levels are constant C. Downward slope D. Moving to the right‚ more cars‚ less computers 1. Scarcity: more for one good‚ less for the other 2. Tradeoffs: not both‚ only either or E. Efficiency: using all resources → on the curve 1. Little inefficiency is living “inside the curve” – reality
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CLICK TO DOWNLOAD MGMT 520 MIDTERM EXAM 1. (TCO B). Infuriated when Harry Reid is re-elected during the 2010 fall election‚ the Republican National Committee decides to take matters into its own hands. In 2011‚ the House of Representatives passes a new "Freedom isn’t Free Act" that requires that anyone who wants to vote in the 2012 presidential election must prove that they paid at least $200 in federal income tax in the past year‚ including people aged 18 (who typically are deducted on their
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Chapter 1 Cost Accounting: Information for Decision Making Solutions to Review Questions 1-1. Financial accounting is designed to provide information about the firm to external users. External users include investors‚ creditors‚ government authorities‚ regulators‚ customers‚ competitors‚ suppliers‚ labor unions‚ and so on. Cost accounting systems are designed to provide information to internal users (managers). This difference is important‚ because it affects the design of the systems. Financial
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Center Study Guide‚ First Midterm Examination The first midterm exam‚ which counts for 20% of your course grade‚ will be on Thursday‚ October 2‚ in class. Blue books are not necessary; there is no need to bring a blue book to class on exam day. You will be asked to complete the exam on the bubble sheet (provided) and on the exam. This is a closed book exam – consultation of notes and books is not permitted during the exam. You are responsible on this exam both for material presented
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____________________________ CHEM 420 Exam 1 Fall 2013 Dr. David Hodapp Read and sign the CRC Honor Code on the next page before starting the exam. Answer all essay questions using complete sentences and proper spelling‚ punctuation‚ and grammar. Points Multiple Choice 34 Matching 12 Fill-In 14 Problems/Essay Questions 90 Total 150 o G = -RT(lnK ) = -2.303RT(log K ) 10 eq k r Ae eq Ea / RT 1 Cosumnes River College Honor Code* Approved
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1. A patient with poorly controlled Type I diabetes has blood drawn and finds that the pH of his blood is 7.1. The normal pH of blood is 7.4. The patient’s blood [H+] is A) one fourth normal B) one third normal C) half normal D) twice normal E) three times normal 2. The Henderson-Hasselbalch equation: A) allows the graphic determination of the molecular weight of a weak acid from its pH alone. B) does not explain the behavior of di- or tri-basic weak acids C) employs
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Laura Marie PHI 104-51 MIDTERM MIDTERM EXAM INSTRUCTIONS: Please answer the following questions with a few sentences or a paragraph. 1. Define Ethics: Ethics are principles of right conduct that serve as rules for people. It is the understanding of what is right and wrong‚ and choosing to do what is right. 2. What are the 5 Steps to Making an Ethical Decision? The first step in making an Ethical decision is to recognize a moral issue. The second step
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1 STAT 1770 MIDTERM-2 Date: March 19‚ 2010 Time: 12 30- 14 30 Instructions 1. This is a closed book exam. Name: _______________ I.D. #: _______________ 2. You are permitted to use a non programmable calculator approved by the instructor. 3. There are 31 multiple-choice questions in the part A of this exam. For each question exactly one of four answers provided is correct. For each multiple-choice question‚ circle one of the letters (a)-(d) corresponding to your chosen answer and record
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Lesson 1. What is Operations Management –Management of the conversion process which transforms inputs such as raw material and labor into outputs in the form of finished goods and services. Historical Development of O.M • Prior to 1900 –Cottage industry produced custom-made goods. –Watt’s steam engine in 1785. –Whitney’s standardized gun parts in 1801. –Industrial Revolution began at mid-century. • Scientific Management (Frederick W. Taylor) –Systematic approach to increasing worker productivity
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CHAPTER 4 JOB COSTING 4-1 Cost pool––a grouping of individual indirect cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to cost objects. 4-2 In a job-costing system‚ costs are assigned to a distinct unit‚ batch‚ or lot of a product or service. In a process-costing system
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