93‚500 6 -38‚500 44 2‚000 50 100‚000 40 100‚000 7 0 33 3‚000 45 135‚000 30 107‚500 8 27‚500 22 4‚000 40 160‚000 20 116‚000 9 44‚000 11 5‚000 35 175‚000 10 125‚500 10 49‚500 0 6‚000 30 180‚000 0 136‚000 11 44‚000 -11 7‚000 25 175‚000 -10 147‚500 12 27‚500 -22 8‚000 20 160‚000 -20 160‚000 13 0 -33 9‚000 15 135‚000 -30 173‚500 14 -38‚500 -44 10‚000 10 100‚000 -40 188‚000 15 -88‚000 -55 B. Use the spreadsheet to create a graph with TR‚ TC and π as dependent variables‚ and units of output
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P2.6 Price and Total Revenue. The Portland Sea Dogs‚ the AA affiliate of the Boston Red Sox major league baseball team‚ have enjoyed a surge in popularity. During a recent home stand‚ suppose the club offered $5 off the $12 regular price of reserved seats‚ and sales spurted from 3‚200 to 5‚200 tickets per game. A. Derive the function that describes the price/output relation with price expressed as a function of quantity (tickets sold). Also express tickets sold as a function of price
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CHAPTER 2 ECONOMISTS’ VIEW OF BEHAVIOR CHAPTER SUMMARY This chapter uses the cheating scandal at Merrill Lynch to illustrate how a manager’s view of behavior can affect decision making. It summarizes the economic view of behavior and contrasts it with other views. The chapter presents a graphical analysis of utility maximization and decision making under uncertainty. The concepts in this chapter are an important foundation for subsequent material in the book. CHAPTER OUTLINE ECONOMIC BEHAVIOR:
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project promises a profit of $75‚000 in each of the next six years. The second project should be undertaken as it has a higher Net Present Value as per the attached excel sheet analysis. 6.) Determine which if the two investment projects of problem 5 the manager should choose if the discount rate of the firm is 20 percent. The first project should be undertaken as it has a higher Net Present Value as per the attached excel sheet analysis. 9.) A woman managing a photocopying establishment
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UNIVERSITY OF GUYANA FACULTY OF SOCIAL SCIENCES DEPARTMENT OF ECONOMICS ECN 213 - MANAGERIAL ECONOMICS COURSE OUTLINE SUMMER - 2010 LECTURER: Roger Rogers E-mail: rogers.roger@gmail.com INTRODUCTION Managerial Economics provides a foundation of economic understanding for use in managerial decision-making. Both microeconomic and macroeconomic relations have implications for this decision-making process. Since the demand for a firm’s products plays a major role in determining its
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ECONOMICS FOR MANAGERS UNIT I Introduction: Economics can be divided into two broad categories: microeconomics and macroeconomics. Macroeconomics is the study of the economic system as a whole. It includes techniques for analysing changes in total output‚ total employment‚ the consumer price index‚ the unemployment rate‚ and exports and imports. Macroeconomics addresses questions about the effect of changes in investment‚ government spending‚ and tax policy on exports‚ output‚ employment and prices
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Agenda – Submit term projects to TURNITIN ASAP – Assignment #2 due April 1st 1159pm • List the coauthor’s name in the subject line. • Teaching Evaluation • Transfer pricing (cont.) – Stanco Inc. • Review chapters 11 and 12 & the practice final – Practice Q1 and Q2 • Review chapters 8 and 9 and the practice final – Practice Q3 and Q4 ACTG 2020 Week 11 1 • Online Course Evaluations (ONCE)/ & Seymour Schulich Teaching Excellence Awards (Schulich TEA) – TEA: http://schulich.yorku.ca/tea. – ONCE:
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Term- I Course Title : Managerial Economics Course Credits : 3 Course Faculty : Prof. Animesh Singh Learning Objectives At the end of this course‚ the student should be able to: • develop a basic understanding of economics as an important tool for taking effective managerial decisions; • develop the concept of managerial economics and its applications; and • to apprise how managers need to understand
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________________________ Class: ___________________ Date: __________ ID: A CH 12 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ ____ ____ ____ ____ ____ 1. The fundamental goal of a firm is a. different for each firm. b. to make a quality product. c. to maximize profit. d. to gain market share. e. decrease its employment of workers in order to cut its costs. 2. Lauren runs a chili restaurant in San Francisco. Her total revenue last year
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Chapter 1 – Applied Problem 1 § Explicit costs are monetary costs of using market-supplied resources. Explicit Costs | | Cost of Products and Services | $355‚000 | Selling Expenses | $155‚000 | Administrative Expenses | $45‚000 | Interest Expense | $45‚000 | Legal Expenses | $28‚000 | Income Taxes | $165‚000 | Total Explicit Costs | $793‚000 | § Implicit costs are non-monetary costs of using owner-supplied resources. Implicit Costs | | Forgone Salary | $175‚000
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