Happyland Construction Maulik Patel Maulik.patel@westburne.ca Module – 2 Happyland Construction Inc. is an engineering firm involved in design and construction of oil shale plants. It is building a plant in Blissful Valley‚ which is part of Mirth County‚ in the Province of Giggle. Happyland is a world leader in designing shale oil plants and has about 100 employees working on site. Happyland has been advised that a new crane has to be used on the site – the GargantuLift 6000 by Mega Corporation
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To what extent do subsidies might encourage the consumption of a good that generates positive externalities such as pu’er tea? A positive externality occurs when a benefit accrues to someone outside of the production or consumption of a good. Goods which contain significant positive externalities are known as merit goods. However‚ without intervention these goods and services do not respond well to price signals and would be under consumed at market price‚ because they are expensive and not wanted
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Chapter 6 Perfectly Competitive Markets 1. A firm sells a product in a perfectly competitive market‚ at a price of $50. The firm has a fixed cost of $30. Fill in the following table and indicate the level of output that maximizes profit. How would the profit-maximizing choice of output change if the fixed cost increased from $40 to $60? More generally‚ explain how the level of fixed cost affects the choice of output. The table is as follows: Output (Units) Total Revenue ($/unit) Total Cost ($/unit)
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ASSIGNMENT QUESTION PAPER DRIVE PROGRAM SEMESTER FALL 2014 MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2 1 SUBJECT CODE & NAME BK ID CREDIT & MARKS MB0042- MANAGERIAL ECONOMICS B1625 4 Credits‚ 60 marks Q.No 1 Questions Marks Total Marks Inflation is a global Phenomenon which is associated with high price causes decline in the value for money. It exists when the amount of money in the country is in excess of the physical volume of goods and services. Explain the reasons for this monetary phenomenon
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University of XXXBUS 500B Fall 2014 Homework 2.2 Due Date: Sunday 09/28 Instructor: KittiTrade 1. Nation A’s production in 1 day Nation B’s production in 1 day Computers 100 Software 140 Computers 120 Software 150 Two nations can produce computers and software in the amounts given in the table above. Using the same amount of resources to produce two goods. Draw PPF curve and explain the reason of each question. a. Does either nation have an absolute advantage in producing
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ECON EXAM 3 QUESTIONS Competitive Supply A perfectly competitive firm maximizes profit by producing the quantity at which: MR = MC. Consider a perfectly competitive firm in the short run. Assume the firm produces the profit-maximizing output and that it earns economic profits. At the profit-maximizing output‚ all of the following are correct except: price is equal to average total cost. People in the eastern part of Beirut are prevented by border guards from traveling to the western part of
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Raven Design is a website design and consulting firm. The firm uses a job cost system‚ in which each client is a different job. Raven Design traces direct labor‚ licensing costs‚ and travel costs directly to each job (client). It allocates indirect costs to jobs based on a pre-determined indirect cost allocation rate computed as a percentage of direct labor costs. At the beginning of the current year‚ managing partner Jill Herbert prepared the following budget: Direct labor hours (professional).
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Advantages: 1)Take all cost elements into consideration‚ because it extends the procurement to the whole life cycle of product within a firm. 2)Reflects the real cost of the purchasing rather than the pure acquisition. 3)It helps to define a rational purchasing policy for the buyer‚ for instance‚ how to allocate the purchasing volume‚ and to whom‚ and etc. 4)It can be a tool to evaluate outsourcing deals. 5)Can be used in negotiations with suppliers‚ by making visible some of the committed costs
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Objectives of Firms Introduction to Business Objectives Standard theory assumes that businesses have sufficient information‚ market power and (importantly) motivation to set prices for their products that maximise profits This assumption is now heavily criticised by economists who have studied the organisation and objectives of modern-day corporations. Not only do most businesses frequently move away from pure profit-seeking behaviour‚ many are organised and operated in a way where profit is not the
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QUIZ 2 Post Graduate Programme in Management (Section ‘E’) 2009-10 Time 1 hour Instructions Total Marks 40 1. Exam is closed book 2. All questions in Part A and in Part B
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