Chapter 5 Question 6 Page 218 Q = Dresses per week L= Number of labor hours per week Q = L –L2/800 MCL=$20 P= $40= therefore MR=$40 Part A: A firm maximizes profit when it equates MRPL = (MR) *(MPL) = MCL MPL= dQ/dL =1 – L/400 Therefore (40)*(1-L/400) = 20. The solution is L = 200. In turn‚ Q = 200 – (2002/800). The solution is Q = 150. The firms profit is= PQ – (MC)L= ($40) (150) – ($20) (200) = $2‚000 Part B Price increase to $50: Q = Dresses per week L= Number of labor hours
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The lives of textile workers in the Lowell Mills‚ not unlike most of the lives of mostly everyone else in America at the time‚ had many challenges. Textile workers were usually single women from age 10 to mid 40’s. The women would be sent to work at the mills to earn a little extra money for their family. Workers had to work very hard for the amount of money they were paid (anywhere from $2 to $6 per week). A textile worker would often begin work before day break and end long after sunset. This eventually
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PAPER - 2 BUS529AO2- MANAGERIAL ECONOMICS PROFESSOR: Dr. JOHN THEODORE RIVIER UNIVERSITY KARTHIK GIRIDHAVAR Problem 1 Gomez runs a small pottery firm. He hires one helper at $12‚000 per year‚ pays annual rent of $5000 for his shop‚ and spends $20‚000 per year on materials. He has $40‚000 of his own funds invested in equipment (pottery wheels‚ kilns‚ and so forth) that could earn him $4000 per year if alternatively invested. He has been offered $15‚000 per year to work as a potter for a competitor
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Managerial Accounting 10th of March Anhar Hardjakusumah Understanding Cost Concepts Cost Terminology Product (Manufacturing over(head+ direct labor and materials) and Period Cost (selling + administrative) Variable and Fixed Cost Direct and Indirect Cost Controlable and uncontrollable cost Differential (the difference between the cost of two alternative decisions) Marginal (the change in the total cost that arises when the quantity produced has an increment by unit. That is‚ it is the cost of
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The textile industry or apparel industry is primarily concerned with the production of yarn‚ and cloth and the subsequent design or manufacture of clothing and their distribution. The raw material may be natural‚ or synthetic using products of the chemical industry. Cotton is the world’s most important natural fibre. In the year 2007‚ the global yield was 25 million tons from 35 million hectares cultivated in more than 50 countries.[1] There are five stages[2] Cultivating and Harvesting Preparatory
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MANAGERIAL COMMUNICATION Managerial communication cannot exist without management. It is a major‚ fundamental component of the latter. Each evolution stage of management determined specific forms of managerial communication. Due to the fact that the manager’s attributions are varied and Managerial communication cannot complex (as administrator‚ he organizes process at an organizatorical level‚ as leader‚ makes decisions‚ as entrepreneur takes action at the right moment for
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IMPACT OF TEXTILE CLUSTER ON ENVIRONMENT: A CASE STUDY ON TIRUPUR Mr. Mervin Rajkumar‚ Student‚ Thiagarajar School of Management Pamban Swamy Nagar Thiruparankundram‚ Madurai - 625 005 Email: mervinkumar29@gmail.com Dr. Vidya Rajaram Iyer Associate Professor‚ Thiagarajar School of Management Pamban Swamy Nagar Thiruparankundram‚ Madurai - 625 005 Email: vidyarajaram@tsm.ac.in Abstract Tiruppur‚ 50kms from Coimbatore district of Tamil Nadu is one of the examples of home grown natural
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WAFEX CASE ANALYSIs INTRODUCTION Wafex is a wholly owned Australian business involved in the horticulture industry since the year 1990. The company is presently Australia’s leading exporter to flower importers and wholesalers domestically and around the world‚ with expertise in providing Australian native wildflowers both fresh and dried varieties. Wafex’s business strategy is to be proactive in selling‚ with a strong customer focus‚ and continually looking for opportunities to add value to
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Total Economic Costs = $793‚000 + $190‚000 = $983‚000 - Total accounting profit is total revenue less explicit costs. $970‚000 - $793‚000 = $177‚000 - Total economic profit is revenue less economic costs. $970‚000 - $983‚000 = <$13‚000> Prior to starting Sound Audio‚ the owner earned a salary of $175‚000 per year. In year one‚ he realized an accounting profit of $177‚000‚ which is greater than his annual salary; however‚ the economic profit
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Q1 Value: Angiomax is a blood-thinning drug‚ or anticoagulant‚ used in emergency coronary heart care. Angiomax is positioned as an alternative to heparin‚ the most commonly used anticoagulant in emergency coronary heart care‚ so to assess Angiomax value to a hospital is required to compare these two drugs. First of all is necessary to analyze the differences in effectiveness of the products in treatments. The use of heparin has associated some general disadvantages like: • Unpredictable effects:
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