Chapter 3 3-1. Concert Opportunity Cost You won a free ticket to see a Brice Springsteen concert ( assume the ticket has no resale value). U2 has a concert the same night‚ and this represents your next best alternative activity. Tickets to the U2 concert cost $80‚ and on any particular day‚ you would be willing to pay up to $100 to see this band. Assume that there are no additional costs of seeing either show. Based on the information presented here‚ what is the opportunity cost of seeing
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necessary for the movement of passengers of goods. Answer. . Q9. The advertisement which is used to inform customers about a new product or feature & to build primary demands is known as: Answer. . Q10. An art that predicts the livelihood of economic activity on the basis of certain assumptions. Answer. . Section A (Part-2) Q1. Write a note on importance of consumer behavior for a business firm. Answer: . Q2. Define the term “Price”. Answer: Q3. Distinguish between
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Major Assignment 1) a) Demand Function: Quantity Demanded (Qd) = a + b* Price (P) Supply Function: Quantity Supplied (Qs) = a + b* Price (P) Where: a = constant b = the change in quantity as a result to the change in price. Demand Function: Quantity Demanded (Qd) = a + b* Price (P) b = (420 – 350) / (20 – 25) = 70 / -5 = -14 Using: P = 25‚ Qd = 350 350 = a – 14 * (25) 350 = a – 350 Therefore a = 700 and the demand function would be: Qd = 700 – 14 * P Supply Function:
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MEANING OF MANAGERIAL ECONMICS (M.E) Managerial economics/applied microeconomics can be defined as the use of economic analysis to make business decisions involving the best use of organizations scarce resources/the application of economic theory and the tools of analysis of decision science to examine how an organization can achieve her objectives most efficiently. M.E may also be defined as the study of economic theories‚ logic and methodology‚ which are generally applied to seek solutions
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counterproductive and can be unhealthy. When anger is too severe‚ out of control‚ misdirected‚ and overly aggressive‚ it can lead to poor decision making and problem solving‚ create problems with relationships and at work‚ and can even affect our health. HOW WE ARE AFFECTED BY ANGER: Uncontrolled or unresolved anger can lead to emotional and mental problems‚ including: * Depression * Eating
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1 Examination-2014 Quantitative Techniques QUIZ TEST (Answer All Questions) Time – 20 mins Full Marks – 10 (10 x 1) 1. The GM of a set of five numbers is 2. The GM of a set of four numbers is 4. What is the GM of the numbers if both the sets considered together? 2. What do you mean by bi-modal incase of measures of central tendency? 3. If mean and SD are 50 and 10 then what is the value of Coefficient of Variation. 4. What is the empirical relationship between Mean‚ Median and
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Week 7 : Week 7 - Exam #1 Time Remaining: | | 1. What phrase is often used interchangeably with the phrase market capitalization? (Points : 1) Market value Open Interest Trading volume Notional value | 2. Assume that an investor lends 100 shares of Jiffy‚ Inc. common stock to a short seller. The bid-ask prices are $32.00 - $32.50. When the position is closed the bid-ask prices are $32.50 - $33.00. The commission rate is 0.5%. The market interest
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Learning activity 2 ch 3-U2 Read chapter 3‚ Demand and Supply‚ of your textbook. Answer the questions below. If a different source is used‚ identify your reference (title‚ author‚ edition‚ page‚ web page‚ date) as a footnote. Copy and paste are not allowed. Show how you obtained your final result. Take into account the due date for submitting assignments. 1. When do we say that two commodities are complements or substitutes? 2. 2. When do we classify goods as normal or inferior? According
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import charges on many of the products brought from the U.S. After the implementation of NAFTA‚ Mexico became a free trade zone. This made it possible for Wal- Mart to reduce its tariff from 10% to 3 %. This led the government to solve the logistical problem due to the fact that Mexico`s transportation system was below average. NAFTA encourages Mexico to improve the transportation system‚ which lowers the logistical cost. Additionally‚ NAFTA allows foreign investment in Mexico. As a result‚ Wal-Mart was
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QUESTION 1: Angel plc is a listed industrial business and is considering a major investment. The investment projects team needs an appropriate rate at which to discount the estimated after-tax cash flow for the investment. Following the business’s normal practice‚ this is to be based on the weighted average cost of capital (WACC). Figures‚ relating to long-term financing‚ included in the business’s most recent balance sheet are: £m Ordinary shares of £0.50 each (160 million) 80 Share
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