consideration implicit costs: PROFIT=TOTAL REVENUE- TOTAL COST Total Revenue=GH¢1‚940‚000 Total Explicit cost=GH¢1‚586‚000 Accounting profit=Total Revenue - Total Explicit cost =1‚940‚000- 1‚586‚000 =GH¢ 354‚000 C. ECONOMIC PROFIT The Economist takes into consideration both Implicit and Explicit cost: Explicit cost + Implicit cost =1‚586‚000+ 60‚000 =GH¢1‚646‚000 PROFIT=Total Revenue -Total Economic cost =1‚940‚000-1‚646‚000 =GH¢ 294‚000 D. Taking into consideration the profit
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There are many talented economist of the classical school. For example‚ Adam Smith‚ Thomas Malthus‚ David Ricardo‚ Jeremy Bentham‚ and John Mill also the outstanding member of classical school. Adam Smith’s book is the important thing for us to discuss‚ there is ‘The Theory of Moral Sentiments’ and ‘Wealth of Nations’. Thomas Malthus also one of the founder of classical school‚ Population growth and market gluts is the important work of him. David Ricardo’s work “Principle of Political Economy and
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boys‚ therefore‚ school is designed more girls than boys. In the first place‚ girls outperform boys in school. According to the weekly newspaper‚ “The Economist‚” girls read more than boys. Teachers are always mentioning how reading is important. In fact‚ neuroscientists have discovered that reading improves brain function. The author of “The Economist”
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aspects of satisfaction was measured on a scale from 0 to 100‚ with larger values indicating higher degrees of satisfaction. The data collected also showed the type of hospital employing the nurses. The complete data set is available on web. Managerial Report Use methods of descriptive statistics to summarize the data. Present the summaries that will be beneficial in communicating the results to others. Discuss your findings. Specifically‚ comment on the following questions. 1. On the basis
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------------------------------------------------- ------------------------------------------------- MG 640 Managerial Economics ------------------------------------------------- Homework Assignment | Week 1 Chapter 1: The Fundamentals of Managerial EconomicsFor this week read Chapter 1 and the Headline: Amcott Loses $3.5 Million: Manager Fired.Answer the following questions:Question 1. Page 27Levi Strauss & Co. paid $46‚532 for a 110-year-old pair of Levi’s jeans-the oldest known
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Managerial Accounting Focusing on Internal Accounting Debby L. Lenahan AIU Online ACCT310-1302A-04: Managerial Accounting interoffice memorandum to: | CEO | from: | debby lenahan | subject: | hiring new managerial accountant | date: | May 5‚ 2013 | cc: | prof. kristina unutoa | | | It is imperative that we hire another managerial accountant to focus on our internal accounting. Our internal accounting is very important because this is what sets our standards and policies.
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2a. Describe the three primary managerial attributes: technical competence‚ social and human skills and conceptual ability. Discuss how their importance varies with the type and level of manager’s job. (10m) The three primary managerial attributes were introduced by Robert L Katz. Whilst social and human skills are required through all levels of managements‚ the amount of technical competence and conceptual ability required by a manager varies at different levels of management due to the nature
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Accounting 211: Introduction to Managerial Accounting Fall 2013 Syllabus Professor Feng Gao‚ Ph.D. Phone: (312) 996 – 4438 Office Hours: Monday 1:00 – 2:00pm 2321 UH Wednesday 1:00 – 2:00pm 2321 UH Teaching Assistant Uma Mulakala Office Hours: Tuesday 1:00-3:00pm 2347 UH Thursday 1:00-3:00pm 2347 UH Anita Ivanova Office Hours/Review Sessions: TBA Course Email: actg211uic@gmail.com Class Schedule 27836 11:00-11:50 M/W/F LC A001 27837
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3. Describe what Pareto efficiency is and why economists use this criterion for comparing alternative economic systems. Use a graphic display in this essay. The term is named for an Italian economist‚ Vilfreo Pareto. A central concept in economics is Pareto efficiency. A situation is said to be Pareto efficient if there is no way to rearrange things to make at least one person better off without making anyone worse off. What makes Pareto efficiency important is that almost everyone would agree that
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CHAPTER 6 MANAGERIAL DECISION MAKING AND INFORMATION TECHNOLOGY True/False Questions *1. Because everybody makes decisions everyday‚ decision making is easy. 2. Decision making is the process of identifying problems and opportunities and then resolving them. *3. The two categories of decision processes rely on either real or imagined problems. 4. A determination made from available alternatives is called a decision. 5. Johnne Morria works for a backpack manufacturer
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