product. Answer: D 6. Which produces market failure problems in private markets? A) the maximization of consumer satisfaction B) spillover costs and benefits C) allocative efficiency D) productive efficiency Answer: B 7. A profit-maximizing firm’s daily total revenue is $155 with 3 workers‚ $200 with 4 workers‚ and $250 with 5 workers. The marginal cost of each worker is $60 per day. The firm should: A) hire a fifth worker. C) hire more
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DISCHARGEMENT OF CONTRACT The law of contracts forms a substantial part of our various relationships that can have some sort of influence over us on an almost daily basis – even when there is no physical contract in front of us we may still be privy to some sort of contractual obligation. Alternatively‚ if you’re a fan of social theorists such as Jean-Jacques Rousseau‚ you may argue that we’re also bound by ‘the social contract’‚ but we digress. Getting back to our original point
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A Case Study on Cost Estimation and Profitability Analysis at Continental Airlines Francisco J. Román Introduction In 2008‚ the senior management team at Continental Airlines‚ commanded by Lawrence Kellner‚ the Chairman and Chief Executive Officer‚ convened a special meeting to discuss the firm’s latest quarterly financial results. A bleak situation lay before them. Continental had incurred an operating loss of $71 million dollars—its second consecutive quarterly earnings decline that year
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manager should use only the less expensive input in this case. If the inputs are not perfect substitutes‚ the isoquants will have a convex shape. The campaign manager should then spend the campaign’s budget on the combination of the two inputs will that maximize the number of votes. 5. For each of the following examples‚ draw a representative isoquant. What can you say about the marginal rate of technical substitution in each case? a. A firm can hire only full-time employees to produce its
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To what extent does a currency forward contract need to play a formal role in multinational companies? A globalisation has risen over the last 20 years. Because of this factor‚ international markets have increased rapidly‚ therefore a large number of companies have been particularly interested in global operatings‚ such as‚ export trade‚ import trade‚ overseas sales (Moosa‚ 2003). A subsequent significant trouble looming large for
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1. Introduction There are many types of contraction contract. For example Lump Sum Contracts‚ Unit Price Contracts‚ Cost Plus Contracts‚ Design and Build Contracts & Concession Contracts. Today Concession Contracts are gaining popularity in the Malaysian construction industry. What is Concession Contracts about? It can be define as a business operated under a contract or license associated with a degree of exclusivity in business within a certain geographical area. A project based on granting by
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you recommend that G.G. Toys change its existing cost system in the Chicago plant? In the Springfield plant? Why or why not? G.G. Toys should change its existing cost accounting system from traditional costing to activity-based costing (ABC) in the Chicago plant as it is allocating its entire manufacturing overhead on the basis of just one cost driver: production run direct labor cost. Since overhead at the Chicago plant is high‚ accurate cost accounting system is required. Different types of
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Carlill v. The Carbolic Smoke Ball Company. The case of Carlill v. The Carbolic Smoke Ball Company‚ centred around an advertisement which was placed in the Pall Mall Gazette on November 13‚ 1891. The advertisement was entered by The Carbolic Smoke Ball Company and was promoting a “medical preparation”1 which the company had developed‚ called the Carbolic Smoke Ball. The advertisement clamed that “During the last epidemic of influenza many thousand carbolic smoke balls were sold as preventatives
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November 13‚ 1891‚ claiming that it would pay £100 to anyone who got sick with influenza after using its product according to the instructions provided with it. “ | £100[1] reward will be paid by the Carbolic Smoke Ball Company to any person who contracts the increasing epidemic influenza colds‚ or any disease caused by taking cold‚ after having used the ball three times daily for two weeks‚ according to the printed directions supplied with each ball.£1000 is deposited with the Alliance Bank‚ Regent
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MANAGEMENT ACCOUNTING AND CONTROL Answers: B.Campfire Outfitters Drivers Cost Centers Purchasing Cost 450 675.00 3‚600 72.00 75.00 1‚600.00 225.00 Engineering Cost 650 975.00 5‚200 104.00 125.00 3‚200.00 375.00 Backpacks Cost 800 1‚200.00 7‚200 144.00 250.00 700.00 125.00 661.75 1‚194.75 4‚275.50 625 6.84 875 6.20 Tents Cost 1‚100 1‚650.00 9‚900 198.00 200.00 700.00 75.00 926.45 1‚672.65 5‚422.10 1‚000 5.65 Sleeping Bags Cost 1‚000 1‚500.00 9‚100 182.00 150.00 750.00 100.00 1‚058.80 1‚911.60 5‚652
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