ECO550 Week 4 Discussion 1 and 2 Name Course University 5/3/2014 Question 1 "Production Economics" Please respond to the following: From the scenario for Katrina’s Candies‚ determine the relevant costs for the expansion decision‚ and distinguish between the short run and the long run costs. Recommend the key decision-making criteria that Katrina’s Candies should use for expansion decisions in the short run and in the long run. Provide rationale for your response. Given that Katrina’s candies
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Master Budget The master budget is a comprehensive summary of a business’ long and short-term goals. “It is a set of interrelated budgets that constitutes a plan of action for a specified time period” (Weygandt‚ Kimmel‚ & Kieso‚ 2008‚ p.4). It brings together long-range plans and short-term budgets. It provides calculated targets for sub-activities such as target sales‚ distribution‚ production‚ and finance. In addition it helps calculate any other item of financial interest to the business owner
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Question 2: Select one example of a literary work or work of visual art from the 1800s—either Romantic or Realist in style—that responds in some way to the Industrial Revolution. Identify the work and the artist or writer‚ and explain how it responds to the Industrial Revolution. Then describe one example of how either black slaves or white abolitionists used literature or the visual arts as a form of protest against slavery. Art is Reacting to Industrial Revolution Chapter 28 (pp. 920-948)
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Q1. What is an opportunity cost? How does the idea relate to the definition of economics? Which of the following decisions would entail the greater opportunity cost: Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot? Explain. LO1 A1. Opportunity cost is the value of the next best thing forgone‚ this is always present whenever a choice is made. Economics is the social science that examines
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In the file ACC 561 Week 3 Discussion Question 1 you will find right answers on the following task: "Select a costing method: process‚ job‚ or activity based. Describe the nature of your chosen method. What types of organizations should choose that method? How is this method different from the costing methods you did not choose? Use your selected costing method to create a real-life business management scenario that includes realistic numbers. What management decisions may one make based on your
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DQ 1 Anita Sabillo ECO 561 September 29‚ 2014 Dr. King DQ 1 Explain how the market economic system works to answer the fundamental economic questions. Explain how this may differ from a command economic system. Historically‚ which has worked best and why? There are three basic questions of economy and they are as follows: what to produce‚ how to produce it and who to produce it for. In a market economy‚ the organization is geared around producing or making the product and deciding what and
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How do the Responsibilities differ between health records administrators and health records technicians‚ including the need for training and job duties. The general duties for handling patient records differ between a record administrator and a records technician . A technician has to have knowledge about medical records and implement the skills that go into filling out all the documents in the files. An administrator hires and teaches medical record technicians how properly to complete medical
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ECO 365 - Week 2 Discussion Question Answers DQ 1: Why is the demand of labor a derived demand? Explain the shape of the supply of labor curve. What is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income? The concept of derived demand occurs when the demand of product exists due to demand of another product. In this case‚ demand of a labor is a form of derived demand‚ because the amount of labor hired will
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This file comprises ECO 372 Week 5 Learning Team Fiscal Policy Paper General Questions - General General Questions Discuss within your Learning Team how and why the U.S.’s deficit‚ surplus and debt have an effect on the following: · Tax payers · Future Social Security and Medicare users · Unemployed individuals · University of Phoenix student · The United State’s financial reputation on an international level · A domestic automotive manufacturing (exporter)
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Discussion Problem 1: An Australian construction company‚ A Co‚ wishes to tender for a major building project in a developing country (D Co) that is run by a military dictatorship favorably disposed towards international business. The tender is organized by the Ministry of Planning. A Co needs to undertake an expensive feasibility study to be in a position to tender. It enters into negotiations with Ministry officials both in Australia and in D Co to gain assistance in conducting the study
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