ECON 600 Lecture 3: Profit Maximization I. The Concept of Profit Maximization Profit is defined as total revenue minus total cost. Π = TR – TC (We use Π to stand for profit because we use P for something else: price.) Total revenue simply means the total amount of money that the firm receives from sales of its product or other sources. Total cost means the cost of all factors of production. But – and this is crucial – we have to think in terms of opportunity cost‚ not just explicit
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DISTRIBUTION DEFINITION A distribution channel is a set of independent organizations involved in the process of making a product or service available to the consumer or a business user. IMPORTANCE OF DISTRIBUTION CHANNELS The main function of a distribution channel is to provide a link between production and consumption. Organisations that form any particular distribution channel perform many key functions: Information Gathering and distributing market research and intelligence - important
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Session 2 : Principles of Accounting and Financial Reporting - Chapter Two Quiz 1. Which of the following is a difference between financial reporting for internal service and enterprise funds? (Points : 10) Internal service funds are reported in the governmental fund financial statements. Internal service funds are reported in the proprietary fund financial statements. Internal service funds are generally
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reinforces does Salatino use to motivate his sales people? Salatino uses every ones favorite reinforcements‚ money! Money is considered a secondary motivator because its not considered a basic human need. Saltaino uses commissions ranging between 5% and 12% as an incentive motivate his employees to make sales. This secondary motivator is a positive motivator because money is why people have jobs and careers. 2. What kind of reinforcement schedule is used by Great Northern American to pay
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Petrie’s Electronic Case‚ Chapter 5 Chapter 5 1. What do you think are the sources of the information Jim and his team collected? They conducted interviews with key stakeholders inside the company and also worked with the marketing group to put together some focus groups made up of loyal customers. The intent was to get some ideas about what would be valued in a customer loyalty program. Jim also spent time studying programs from other retail chains and those in other industries as well
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Fauzias Mat Nor DIVIDEND POLICY AND STOCK REPURCHASES TEAM MEMBERS: NO. NAME I.C. NO. STUDENT NO. 1. Mohd Hatta Ahmad 641225-05-5601 ZP00664 2. Azizul Azrin Mahmor 761117-04-5189 ZP00580 3. Hazri Zan Abu Kassim ZP00398 4. Fazriman Fazli Othman ZP00665 Date: 10.10.11 INTRODUCTION Dividends and stock repurchases are firm’s payout policy where a firm pay cash to shareholders Dividend Policy Dividend policy is a decision to pay out earnings versus retaining them. Dividend policy issues include
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Earning management is good or not? Introdcution This essay is to examine whether earning management is it good or bad. Though there is so many debate about whether it should be accepted to be good rather than bad‚ however‚ this essay will explain the both side of earnings management. Earnings management reduces the quality of financial reporting‚ it can interfere with the resource allocation in the economy and can bring adverse consequences to the financial market. This essay analyses both‚ causes
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CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS OUTLINE |Number |Topic |Type/Task |Status | | | | |(re: 14/e) | |Questions: | |
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LEARNING OBJECTIVE: Understand and perform an integrated order-to-cash cycle .The goal of SAP Sales and Distribution (also referred to as SAP Supply Chain Management-Order Fulfillment) is to provide with a complete knowledge of the Sales Cycle implementation using SAP. Project Management and some background of the SAP Transportation System is also part of the case study. The basic learning is to perform the functional duties of a SAP SD Consultant and develop a strong conceptual and practical knowledge
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In chapter 5‚ I learned that an adult human contains ten times as many foreign microbial cells as mammalian cells. I also learned a lot about host manipulation in animals from spiders to humans. I found it really intriguing that the cold virus actually triggers your sneezing reflex so that it can infect others around you. Other viruses‚ such as cholera and some STDs‚ also use various degrees of host manipulation to find transmission channels. I also found it interesting that our sense of disgust
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