economic profits in the long run. In a monopoly‚ the firm typically earns a positive economic profit. Why is there this difference? The lack of barriers to entry will allow competitors to enter the market unil economic profit is zero. These firms are price takers‚ and they cannot affect prices because their demand curve is horizontal. (4 marks) 2. Assume that a single firm in a pure competitive industry has a fixed cost of $6500 and variable costs as indicated in the table below. a. Calculate
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coffee? If one pound produces 50 cups of coffee‚ would the price of a cup of coffee rising by $0.01? Explain. Price of the product comes from the production of the goods all the way till it hits the market shelf. So when the price of the product like coffee increases during the productivity of the product then the end cost could increase too. Changes of the productivity can increase by changes in technology and human capital. This allows the production of the products to become better managed by managers
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provide accurate costing information to managers to allocate activity costs to products and services by applying cost drivers [8]. Academics who advocate ABC‚ such as‚ Cooper and Kaplan [9]‚ and Swenson [10] argue that it provides more accurate cost data needed to make appropriate strategic decisions about product mix‚ sourcing‚ pricing‚ process improvement‚ and evaluation of business process performance. These claims have led many firms to adopt ABC systems [8]. The benefits of ABC and its positive impact
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“The Way” By: Ariana Grande Featuring Mac Miller American singer-songwriter and actress Ariana Grande featuring rapper Mac Miller recorded the song “The Way” and was released on March 26‚ 2013 by Republic Records and as the lead single from her album Daydreamin’. This song was written by Mac Miller himself‚ Harmony Samuels‚ Jordin Sparks‚ All Sherrod Lambert‚ and Sevyn Streeter. “The Way” is a pop genre song whose melody is directly from the R&B 1998 hit “Still Not a Player‚” originally recorded
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reasons why our health is so expensive. Administrative Costs The number one reason our healthcare costs are so high‚ says Harvard economist David Cutler‚ is that “the administrative costs of running our healthcare system are astronomical. About one quarter of healthcare cost is associated with administration‚ which is far higher than in any other
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George knew of it? The water tower has been on George’s property ever since before he was born. When George was a little child he used to try to climb up the tower‚ but he could never do it because it is not easy to climb without a ladder or some kind of equipment. Therefore‚ George is aware of the fact that there is an attractive nuisance around‚ which children as Adam‚ who is six years old‚ were likely to trespass because George himself as a child also tried to do. Thirdly‚ does George
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Lakeland Wonders will have to expand its manufacturing from U.S.-only to overseas companies. This has the potential to cause a customer backlash as well as union problems. Hailstrom’s managers are cautious; Hailstrom wonders if she shouldn’t bring in some new blood. Previous CEO Walter Swensen suggests Hailstrom move more slowly and think about the implications of her actions. Hailstrom‚ not wanting to face a showdown‚ asks for his support and confidence in her. Is Cheryl Hailstrom pushing for
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Jessica Dirkson Professor Hoey HIS330 March 8‚ 2013 Unsuccessful Attempts of International Order in East-Asia In the beginning of the Meiji Era (1868 - 1912)‚ Western attempts to create a stable international order in East Asia increased tremendously. During this time period‚ Japan experienced fundamental changes in its view and interactions with the Western Powers. Previously‚ the Japanese did not have any interest in adopting the international order of the West‚ and continued on a path of
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The Cost of Absenteeism Any company’s successful operation depends in large part on the attendance of its employees. Unnecessary or unexcused absences affect company operations. Some absences are unavoidable. Others are worth taking steps to control. Absenteeism costs companies more money every year. Can you figure out what absenteeism costs your company in any given month? Can you multiply that by 12 to see what it costs in a year? Remember‚ this isn’t taking into account the cost of replacing
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Case Study: Transforming Carlsberg into a Cosmopolitan Firm Building Strategy Process Capabilities Table of Contents TOC \o "1-3" \h \z \u 1.Introduction PAGEREF _Toc389678389 \h 32.What are the challenges Carlsberg faces in its attempt to align strategy process on a group level? PAGEREF _Toc389678390 \h 42.1.Integration as Main Challenge PAGEREF _Toc389678391 \h 42.2.Formulating a Mutual Strategy PAGEREF _Toc389678392 \h 42.3.Seeking the perfect Balance between Global and Local PAGEREF _Toc389678393
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