Assignment 2 (20 points) Assignment 2: Costs and Profit Instructions Save this file in your course folder‚ and name it with Assignment‚ the section number‚ and your first initial and last name. For example‚ Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day‚ be sure to save your
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Absolute values In an absolute value‚ everything with it is counted as a positive. ∣-a∣ = --a= a ∣a∣ =a In an equation‚ absolute values have two possibilities when talking about equations ∣a+b∣ =x = a+b=x = a+b= -x e.g. Solve ∣x-4∣=8 x-4=8 OR x-4= -8 x=12 x=-4 Sub both answer into the equation ∣12-4∣ =8 OR ∣-4-4∣ =8 8=8 8=8 Both solution re true so x=12 or x=-4 Absolute inequalities (method 1) If ∣a+b∣ ≤x∣a+b∣
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PROFIT MAXIMIZATION [See Chap 11] 1 Profit Maximization • A profit-maximizing firm chooses both its inputs and its outputs with the goal of achieving maximum economic profits 2 Model • Firm has inputs (z1‚z2). Prices (r1‚r2). – Price taker on input market. • Firm has output q=f(z1‚z2). Price p. – Price taker in output market. • Firm’s problem: – Choose output q and inputs (z1‚z2) to maximise profits. Where: π = pq - r1z1 – r2z2 3 1 One-Step Solution • Choose (z1
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Profits Katherine Carpenter Liberty University Econ 213 Gwartney states that profits are; “An excess of sales revenue relative to the opportunity cost of production. The cost component includes the opportunity cost of all resources‚ including those owned by the firm. Therefore‚ profit accrues only when the value of the good produced is greater than the value of the resources used for its production.” An example of a profit would be bakery offers a cheesecake for $20 and the total cost to make
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name of public speaking. Surveys show that public speaking is one of the activities that people fear most. Most teachers genuinely like their students. Why then does public speaking persist? The “You never know when . . .” Argument Most adults are called upon to speak to groups of people at least a few times in their lives. Members of wedding parties are often expected to deliver speeches. Many people have to testify in court (as witnesses‚ we hope). Employers sometimes ask veteran employees
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had the objective to find hidden profits and losses contained in their current accounting system. The old system did not fully disclose how their costs were applied to the sales accounts. The goals are very sensible as they will allow them to move forward with the proper information. 2. Why did Ridderstråle feel that the previous cost system was inadequate for the new strategy? The new strategy/system was needed “to promote high-margin products to high-profit customers.” The old system didn’t
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When it comes to for-profit colleges many students end up being in $50‚000 to even a hundred-thousand dollars in debt; making it harder by the day to find a good job-placement after becoming a graduate. The cost of attending a for-profit school is just much‚ as attending a ivy-league school‚ if not more. With most of these colleges having open enrollment‚ this allows the Government to take more/ have access to more money. In my opinion‚ it’s almost a trap in order to lure students into thinking
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Have you ever wanted your own business? What type of business partner are you looking for? According to Eric Basu there are 6 questions that should be asked before picking a business partner. First‚ one should ask whether he or she needs a business partner. Second‚ the goals of the prospective partner and the owner should either be the same or coincide with one another. Next is the designation of tasks followed by how the conflicts will be resolved. The last two focus on the future of the business
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REPUBLIC OF THE PHILIPPINES ILOCOS SUR POLYTECHNIC STATE COLLEGE COLLEGE OF BUSINESS MANAGEMENT NORTH CLUSTER STA. MARIA‚ ILOCOS SUR IN PARTIAL FULLFILLMENT TO THE REQUIREMENTS OF THE SUBJECT BUSINESS MATH PRESENTED BY: MONICA D. APALLA BSHRM 1A PRESENTED TO: MR. MARVIN GALCON SUBJECT INSTRUCTOR PROBLEM SOLVING INVOLVING INTEREST 1. You put $1000 into an investment yielding 6% annual interest; you left the money in for two years. How much interest
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name. For instance‚ the Baltimore‚ Pennsylvania‚ and the Parker are all based off the Pratt. Pratt Truss How the forces are spread out Here are two diagrams showing how the forces are spread out when the Pratt Truss is under a load. The first shows the load being applied across the entire top of the bridge. The second shows a localized load in the center of the bridge. In both cases the total load = 100. Therefore‚ you can take the numbers as a percentage of the total load. Pratt Truss
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