1Would you say that Google and Yahoo are direct or indirect competitors? What about McDonalds and Macaroni Grill? Explain why? Indeed Google and yahoo are both direct competitors because the both provide the same services such as : email ‚ search ‚chatting groups ‚ blogs ‚for McDonalds and Macaroni they are indirect since both provide food but of different types which make them compete for different products . - 2 . Given the example of Atari and Nintendo games‚ which one was the first
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N.‚ (2012). Principles of Microeconomics (6th ed.) . Cengage Learning McGuigan‚ J. R.‚ Moyer‚ R. C.‚ & Harris‚ F. H. deB. (2014). Managerial economics: applications‚ strategies and tactics (13th ed.). Stamford‚ CT: Cengage Learning Nicholson‚ W. (2012). Microeconomic Theory: Basic Principles and Extensions (11th ed.). USA: Cengage Learning. Samuelson F. W. & Marks‚ G.S. (2012). Managerial Economics (7th ed.). Wiley Varian‚ H. R. (2011). Intermediate Microeconomics: A Modern Approach (8th ed
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Important Microeconomic Formulas Total Product = Quantity (Q) Average Product (AP) = Total Product (Q) / Labour (L) Marginal Product (MP) = Change in Total Product / Change in Labour Profit = Total Revenue (TR) – Total Costs (TC) Profit = (Average Revenue – Average Cost) x Quantity Total Revenue (TR) = Price (P) x Quantity (Q) Total Costs (TC) = Total Fixed Costs (TFC) + Total Variable Costs (TVC) Total Cost (TC) = Average Cost (AC) x Quantity (Q) Average Cost (AC) = Total Costs (TC) /
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Aqsa Kiran Prof. Moinul Islam 7th Feb‚ 2015 Intermediate Microeconomics PPE-3100 Home Work -1 1. Suppose a teenager has $20 and likes both rap music (R) and country music (C) with a set of preferences so that U = C1/2R1/2. Suppose that the iTunes price of a rap music song is and the price of a country music song is. Find optimum levels of R and C. What is the greatest level of affordable utility (Use Lagrange method)? U = C^1/2 R ^1/2 Constrain = Pc +PR = 20 Applying Lagrange Method
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Considering the elements of microeconomics‚ create a list of three (3) best practices that would benefit any small business or start-up. Explain your rationale. The element of microeconomics is every business endeavor is an exchange between a buyer and a seller. Understanding the factors that determine demand and supply is the first best practice that would benefit a small business startup. The demand reflects the willingness and ability of buyers to purchase goods and services at different prices
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Gujarat University‚ Ahmedabad – MBA Programme Details of the Courses Offered Annexure E Course Code: C101 Economics for Managers (EFM) 1. Course Objective This course is designed to impart knowledge of the concepts and principles of Economics‚ which govern the functioning of a firm/organisation under different market conditions. It further aims at enhancing the understanding capabilities of students about macro–economic principles and decision making by business and government. 2. Course Duration
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Microeconomic and Tourism I. Introduction …………………………………………………………………………. II. The significance of tourism to economic. ………………………………………… III. The impact of tourism on local society. …………………………………………... IV. The effects of tourism on microeconomics……………………………………….. V. UAE as an example for the subject. ………………………………………………. VI. Clusters and competitiveness of the UAE. ……………………………................ VII. Conclusion. ………………………………………………………………………… VIII. List of figures. ………………………………………………………………………
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Quality Indicators (how will it be graded; what constitutes a good assignment): The following are indicators of quality expected:• Depth of research• Feasibility of the project• Ability to use economics to assess strategic opportunities• Macro- and Microeconomic determinants capacity building through critical analysis• Real life value (more will be disclosed) | 1. Model – Rudy * What are Green Roofs * Why it exists – scientific viability: energy saving ‚ water saving‚ thermal insulation
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BD103 Microeconomics TUTORIAL Questions on Market Structure Section A – Multiple Choice Q1 Which market model has the least number of firms? (a) Monopolistic competition (b) Perfect competition (c) Monopoly (d) Oligopoly Q2 Perfect competitive firms maximize: (a) Total profits by producing where price exceeds average total cost by the greatest amount (b) Per unit profits by producing where marginal revenue equals marginal cost (c) Total profits by producing where price equals marginal cost (why
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Opportunity cost of an activity (or goods) is equal to the best next alternative foregone. Although opportunity cost can be hard to quantify‚ the effect of opportunity cost is universal and very real on the individual level. In fact‚ this principle applies to all decisions‚ not just economic ones. Since the work of the Austrian economist Friedrich von Wieser‚ opportunity cost has been seen as the foundation of the marginal theory of value[citation needed]. Opportunity cost is one way to measure
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