=GH¢ 60‚000 (Implicit cost) TOTAL ECONOMIC COST =Total explicit cost +Total Implicit cost =1‚586‚000 + 60‚000 =GH¢1‚646‚000 B. ACCOUNTING PROFIT The Accountant takes into consideration explicit costs but does not take into consideration implicit costs: PROFIT=TOTAL REVENUE- TOTAL COST Total Revenue=GH¢1‚940‚000 Total Explicit cost=GH¢1‚586‚000 Accounting profit=Total Revenue - Total Explicit cost =1‚940‚000- 1‚586‚000 =GH¢ 354‚000 C. ECONOMIC PROFIT The Economist takes into consideration
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Annual Report of the Oncology Care Course Project HIT-225 Data Application and Healthcare Quality Instructor: Ms. Mary Bowman Sunshine Hospital Oncology Care Program INRODUCTION TO ONCOLOGY CARE PROGRAM Cancer is a group of disease that effect nearly every tissue or organ in the human body‚ and the second leading cause of death in the United States. In 2007‚ lung cancer was the leading cause of death among males and females in Marin County. Sunshine Annual
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Module II: Fundamental Concepts of Managerial Economics * Opportunity Costs‚ Incremental Principle‚ Time perspective‚ Discounting and Equi-Marginal principles. * Theory of the Firm: Firm and Industry‚ Forms of Ownership‚ Objectives of the firm‚ alternate objectives of firm. * Managerial theories: Baumol’s Model‚ Marris’s Hypothesis‚ Williamson’s Model. * Behavioral theories: Simon’s Satisficing Model‚ Cyert and March Model. * Agency theory. * Opportunity cost principle
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Managerial economics as defined by Edwin Mansfield is "concerned with application of economic concepts and economic analysis to the problems of formulating rational managerial decision."[1] It is sometimes referred to as business economics and is a branch of economics that applies microeconomicanalysis to decision methods of businesses or other management units. As such‚ it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis and correlation
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James Cash Penney opened his first store located in Kemmerer Wyoming in 1902‚ at the age of 25. The first store was opened in partnership between Penney‚ T.M Callahan and Guy Johnson as a ‘cash only’ store‚ refusing to take mining script or extend credit. Investing his entire savings of $500‚ Penney had to borrow $1‚500 and was cautioned against his ‘cash only’ policy‚ as other stores in mining towns had been failing. The store was a success in spite of bankers warnings earning $28‚898 in sales
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also strategic decisions that the company must make. Whereas ranking projects based solely on the IRR and NPV sets a short term course‚ a long term strategy must be considered. The company must decide if it wants to claim the strong hold won in the recent price wars through continued low prices and volume or if they would like to diversify further and capture unchartered markets. Rather than launching a group of disparate projects set for pure monetary growth‚ the company should be aware that an overall
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Business Economics Course Project - Part 2 Course Instructor De Cossio Prepared by Muhammad Wasiq Rashid (D03521035) Submitted on 5th February 2011 Chapter 16‚ Question 5 Why is frictional unemployment important to have in any economy? Frictional unemployment is the short-term unemployment of people who are changing jobs‚ careers‚ or locations. This category of unemployment includes the jobless who have the skills and competencies to land a job‚ and are in the process of finding
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Thriftway E-Commerce 1 Course Project MIS 535 Lynn M. Peirce LMP91357@aol.com
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Managerial Perspective ACC/561 February 10‚ 2014 Seth Jardine Activity-Based Overhead Rate R&D activities fall into four pools. The four activity pools are market analysis‚ product design‚ product development‚ and prototype testing. The annual costs are $1‚050‚000 for market analysis‚ $2‚350‚000 for product design‚ $3‚600‚000 for product development‚ and $1‚400‚000 for prototype testing. The total estimated drivers for each activity are 15
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Managerial Statistics Distinguish between primary data and secondary data? OBJECTIVE The main objective of this topic is to measure the degree of relationship between the variables under consideration.The correlation analysis refers to the techniques used in measuring the closeness of the relationship between the variables. DEFINITION Some important definitions of correlation are given below: 1. “Correlation analysis deals with the association between two or more variables”. ---- Simpson &
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