The article “You’ve Got to Find What You Love‚” by Steve Jobs‚ was originally presented to the 2005 graduating class of Stanford University as their commencement speech. As we look back at his speech‚ after more than a decade has passed‚ it is clear that the main purpose of it is to promote and persuade individuals to do what you love‚ or DWYL. Although Jobs may seem inspiring because he commands the reader’s attention with great authority‚ he only uses his own life experiences as evidence for his
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CHAPTER 6 COST BEHAVIOR TYPES OF COST BEHAVIOR PATTERNS 1. Variable Cost 2. Fixed Cost 3. Mixed / Semi-variable Cost Cost Structure – the relative proportion of fixed‚ variable‚ and mixed costs found within an organization or firm. 1. Variable Cost - its total dollar amount varies in direct proportion to changes in the activity level. Example: Number of Trucks Radiator Cost per Total Radiator
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utility that Steve receives from consuming oranges at 50 cents apiece. What is the marginal utility of increasing consumption from 2 to 3 oranges? [pic] A. 3 B. 6 C. 5 D. 12 3. Suppose that if you buy one Big Mac that gives you marginal utility of 500 and a second Big Mac that gives you marginal utility of 200‚ total utility of buying (and eating) two Big Macs is: A. 200. B. 300. C. 500. D. 700. 4. When marginal utility is zero‚ total utility is: A. increasing. B. decreasing
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Opportunity costs The first opportunity cost that I made was choosing to enroll in a university that offers online courses or going to a traditional university that only has classroom style learning. The pros of attending online for me included not having to commute back and forth 40 additional miles per day‚ not having to hire a babysitter for my child‚ and I’d be in the comfort of my own home or environment to my liking when I studied. The cons included‚ not having that social connection to my
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resulting line‚ give an algebraic representation of the line‚ and explain what the slope means. Answer: Find the slope of the line (call it m). Let Y = enrollment in econ courses; Let X = total enrollments. The slope is the rise over run‚ or‚ in this case‚ 1/4. Find the equation of the line in slope-intercept form: take any point (we’ll take (3200‚ 350) and use the formula Y = mX + b; and you found the slope (1/4) in the previous part of the problem. Therefore‚ 350=(1/4)*3200 + b‚ which implies b
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Cost Scenario University of Phoenix ECO 561PR October 22‚ 2012 Professor Adelaida Torres Dilan Cost Scenario The San Juan Cell Phones Scenario Summary talk about this company that manufacture cell phones where Maria Perez‚ a business development specialist‚ secured an order of 100‚000 units with this major chain‚ which is an opportunity to the company to increase their production and their profit. Cell phones are very important to the community these days for business
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CHAPTER 3 ACTIVITY COST BEHAVIOR LEARNING OBJECTIVES AFTER STUDYING THIS CHAPTER‚ YOU SHOULD BE ABLE TO: 1. Define and describe fixed‚ variable‚ and mixed costs. 2. Explain the use of the resources and activities and their relationship to cost behavior. 3. Separate mixed costs into their fixed and variable components using the high-low method‚ the scatterplot method‚ and the method of least squares. 4. Evaluate the reliability of the cost formula. 5. Explain how multiple regression
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credit is available for multiple choice questions. Be sure to put your answers to the multiple choice questions on your Scantron form. The exam is closed book. A calculator is permitted. GOOD LUCK. Please circle the best answer and fill-in the corresponding circle on your Scantron sheet. Only answers on the Scantron will be scored. PART I: Multiple Choice. Please circle the best answer and fill-in the corresponding circle on your Scantron sheet. Only answers on the Scantron will be scored.
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Chapter Six Businesses and Their Costs Study Questions: 1. Explain the difference between a plant‚ a firm‚ and an industry. Plant – establishments such as a factory‚ farm‚ mine or store. Firm – an organization that employs resources to produce goods/services for profit. Industry – group of firms that produce the same or similar products. 2. State the advantages and disadvantages of the corporate form of business. Advantages – most effective form of
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Agency Costs of Free Cash Flow‚ Corporate Finance‚ and Takeovers Michael C. Jensen Harvard Business School MJensen@hbs.edu Abstract The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than profitable investment opportunities. The theory developed here explains 1) the benefits of debt in reducing agency
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