Managerial theories of the firm Managerial theories of the firm place emphasis on various incentive mechanisms in explaining the behaviour of managers and the implications of this conduct for their companies and the wider economy. According to traditional theories‚ the firm is controlled by its owners and thus wishes to maximise short run profits. The more contemporary managerial theories of the firm examine the possibility that the firm is controlled not by its owners‚ but by its managers‚ and
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Random Variables: Homework Exercise 1 Complete the PDF and answer the questions. |X |P(X = x) |X(P(X = x) | |0 |0.3 | | |1 |0.2 | | |2 | | | |3 |0.4 | | a. Find the probability that X = 2. b. Find the expected value. Exercise 2 Suppose that you are offered the following “deal.” You roll a die. If you roll a 6
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Introduction to Economics I Problem Set I 1. You have planned to spend 9 days in Vienna during this Christmas and New Year season. You have reserved a round-trip ticket to Vienna‚ which would cost you $8000. You have also bought the ticket to Vienna Philharmonic’s New Year Concert‚ which cost you $200. You have wanted to attend the New Year concert for a long time and you are willing to pay $1000 to see it. Tickets to the concerts are nonrefundable and you cannot resell them. You just learned
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Diversify on core to sustain competitive advantage Introduction Company urges invest in something new to achieve advantage to develop their business. However with technology improving and market becoming mutual the “pie” seems not big enough for such increasing amount of investors. Many fail to gain economies of scale. Moreover‚ in the current market company is in the competition also turns to be fiercer. An excessive investment to unrelated and “hot” may compel company neglect their existing
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CASH FLOW DIRECT/INDIRECT 1. Given the following information and using the indirect method prepare the Cash Flows from Operating Activities section of the statement of cash flows. End of Year Beginning of Year Change Cash 23‚500 37‚400 (13‚900) Accounts receivable (net)
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For my museum‚ I’ve decided that I would “rebuild” Camelot. it will have a moat surrounding the castle with a drawbridge‚ a gatehouse‚ a wall walk‚ merlons‚ courtyard‚ stables‚ tower etc… I would buy a large piece of land and have a castle built and a forest around it. I would have the museum in Glastonbury as the museum is based on the Arthurian legend and Glastonbury has many links to king Arthur (it is said that Glastonbury is Avalon‚ the resting place of king Arthur and apparently king Arthur’s
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which workers are unorganized and many firms actively compete for the services of labor. Show this situation graphically‚ using W1 to indicate the equilibrium wage rate and Q1 to show the number of workers hired by the firms as a group. Show the labor supply curve of the individual firm‚ and compare it with that of the total market. Why the differences? In the diagram representing the firm‚ identify total revenue‚ total wage cost‚ and revenue available for the payment of nonlabor resources.
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CHAPTER ONE PRINCIPLES OF PERSONNEL MANAGEMENT HUMAN RESOURCE DEPARTMENT AND ITS BASIC FUNCTIONS For any organization‚ staff or men power is the most valuable asset.. In the modern age where computers and information technology have brought revolutionary changes in the progress and performance‚ human resource factor’s importance has become imperative. Many years ago large organizations had no separate department for staff matters and Personnel & Admin Department was doing the job. But recently
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2015("U.S. Energy Information Administration”). Electric cars may be the solution for that problem‚ you don’t have to fill the tank‚ you don’t have to worry about gas mileage‚ and your gas bill will be zero. Many believe that electric cars can solve all the problems‚ and help the environment and economy in the process‚ but could electric cars have a dark side nobody thinks about? Hybrid cars require less gasoline‚ therefore using less of the fossil fuels. “The Prius often ran on battery power”(David)
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Compyer‚ Inc must decide whether to introduce a mid-priced 2 version of the firm’s DC6900 minicomputer product line-the DC6900-X minicomputer. The DC6900-X would sell for $ 3900‚ 3 with unit variable costs of $ 1‚800. Projections made by an independent marketing research firm indicate that the DC6900-X 4 would achieve a sales volume of 500‚000 units next year‚ in its first year of commercialization. One-half of the first year’s 5 volume would come from competitors
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