Chapter 5 Question 6 Page 218 Q = Dresses per week L= Number of labor hours per week Q = L –L2/800 MCL=$20 P= $40= therefore MR=$40 Part A: A firm maximizes profit when it equates MRPL = (MR) *(MPL) = MCL MPL= dQ/dL =1 – L/400 Therefore (40)*(1-L/400) = 20. The solution is L = 200. In turn‚ Q = 200 – (2002/800). The solution is Q = 150. The firms profit is= PQ – (MC)L= ($40) (150) – ($20) (200) = $2‚000 Part B Price increase to $50: Q = Dresses per week L= Number of labor hours
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Team Case C. National Cranberry Cooperative Please read the course pack item “National Cranberry Cooperative”. The assignment is composed by two parts‚ which are due on different day. The following are the common assumptions for both Part I and Part II A. All the processes (including Destone‚ Dechaff‚ and Dry) start from 7am. B. On an average “busy” day‚ there are 18‚000 bbls delivered over 12-hour period (from 7am to 7pm). C. Wet berries are 70% of all berries. D. Holding bins 17-24 are
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The themes I choose to highlight is that of Dual federalism and Cooperative federalism. In dual federalism‚ “power is divided between the federal and state governments in clearly defined terms‚ with state governments exercising those powers accorded to them without interference from the federal government”. This implies that the federal and state government share sovereign power over an area of people. Cooperative federalism is defined as “one where federal‚ state and local governments are able
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Looking what I have learned in the pre-placement activities‚ it has taught me so much and will benefit me in many different ways during my Cooperative Education Placement. The activity about employability skills lets me know what skills I have and where I need to improve. They help me become a better person not only in my work force but just a better person in general. Learning about communication skills‚ responsibility skills‚ working with others and more will help me all around when working at
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Master of Business Administration- MBA Semester 1 February 2012 MB 0042: “Managerial Economics”- (4 credits) (Book ID: B1131) Assignment Set- 1 (60 Marks) ------------------------------------------------- Note: Each Question carries 10 marks. Answer all the questions. Q1. Define Managerial Economics and explain its main characteristics. Q2. State and explain the law of demand. Q3. What is Demand Forecasting? Explain in brief various methods of forecasting demand. Q4. Define
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Topic: Managerial prerogative has gone too far! Discuss. Introduction: Managerial prerogative has gone too far and can be reviewed as being a significant topic in today’s business environment. The issues pertaining to business on a global scale is the constant evolution of technology and the development this is making to the workplace. In order to meet the challenge imposed business managers need to have economic knowledge and the ability to maintain the technology advancements made. Additionally
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Trunk in a Cooperative Task” they both talk about how the elephants try to achieve a collective goal. The elephants worked with a helping trunk to test and achieve this goal and the mahouts‚ or elephant trainers would test how the elephants use their cooperative skills. Their task was to use their and rope-pulling skills and work together as a team. Overall‚ in the article “Elephants Can Lend A Helping Trunk”‚ and the passage “Elephants know When They Need A Helping Trunk in a Cooperative Task” show
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general ethics to business behavior ‚its is the extension of individual/group ethics to business situations. Source:http://www.slideshare.net/ajithsrc/hrm-ethics Managerial Ethics: 1. Managerial ethics are a set of standards that dictate the conduct of a manager operating within a workplace. Author: Alex Burke 2. Managerial Ethics: Ethical management is the knowledge of standards in both accounting and corporate governance‚ and recognition of the link between ethics and organizational
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Cooperative Federalism was that all the levels of government had to work together to achieve and solve problems. " This type of federalism was most popular in the 1930’s‚ following the Great Depression‚ and lasted up until the 1970’s"(types of federalism‚ pg 1). In this time there was many power struggles between the state and the national government. The nation needed the government to take control of what was happening. One of the struggles was the economy
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A prisoner of war can be defined as somebody who is captured or imprisoned by the enemy during an act of war. Anybody can be a prisoner of war‚ even an eight year old civilian who is simply caught in the crossfire. Both “Guantanamo Boy”‚ a novel written by Anna Perera‚ and “The Boy in the Striped Pyjamas”‚ a film directed by Mark Herman‚ revolve around two key issues relating to the main theme of Prisoners of War. The issues are Innocence of Children and Discrimination. All of the three main characters
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