Q = 10L – 0.5L2 Suppose that output can be sold for $10 per unit. Also assume that the firm can obtain as much of the variable input (L) as it needs at $20 per unit. a. b. c. Determine the marginal revenue product function. Determine the marginal factor cost function. Determine the optimal value of L‚ given that the objective is to maximize profits. Question: The Blair Company’s three assembly plants are located in California‚ Georgia‚ and New Jersey. Previously‚ the company purchased a major
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PESTEL FACTORS PESTEL analysis stands for "Political‚ Economic‚ Social‚ and Technological‚ Environmental and Legal analysis". It is a part of the external analysis when conducting a strategic analysis or doing market research and gives a certain overview of the different macro-environmental factors that the company has to take into consideration. Political factors or how and to what degree a government intervenes in the economy. Specifically‚ political factors include areas such as tax policy
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Lupa4eve’s Blog Just another WordPress.com site Skip to content * Home * About ← Hello world! F. W. Taylor’s Scientific Management Theory in Modern Day Workplace Posted on October 23‚ 2010 by lupa4eve Management can have the most remarkable effects on organization; that is why management has become an essential part of organization. According to Griffin (2001) Management may be defined as a set of activities (including planning‚ and decision making‚ organizing‚ leading and controlling)
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2. Why isn’t money consider a capital in economics? Capital is a physical asset‚ which can be used to produce goods and services. Money is related to capital‚ in that it can be used to purchase capital‚ but it is not itself capital. The distinction is important if you consider that money can be created or destroyed through the expansion or contraction of credit‚ but this does not create or destroy any real capital. Money is capital. Money is the most common form of capital. Raising capital money
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MakeX Natural Cosmetics Export Business Plan Mariaviola Bombagli Globalisation & Integration Prof. Westbroek Individual Assignment February 1st‚ 2011 MakeX Natural Cosmetics Export Plan Bombagli M Abstract MakeX is a natural cosmetics company that plans on expanding its market to China. As the Chinese cosmetics market is proving to be one of the fastest growing businesses‚ it appears to be a good place for the company to start expanding internationally. In order to successfully conduct
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UNIVERSITY | “MAKING DECISIONS BASED ON DEMAND AND FORECASTING” | DOMINOS PIZZA | | Althea Layne | [Pick the date] | Professor DR. Elkanah Faux ECO 550 Managerial Economics & Globalization October 27th. 2012 Domino’s pizza is considering entering the market-place in your community
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resources financially ‚ we as consumers are now faced with the choice of what to purchase and how much to purchase so that we may satisfy our appetite whilst still remaining well within our allocated budget. This scenario is basically the concept of economics’ placed into practice in one’s everyday life. To the average consumer purchasing products or goods that are relatively close to the product’s expiration date may seem risky‚ hazardous‚ life threatening to one’s health or to the more skeptical individual
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MC equals MR‚ the profit is maximized. From the above table‚ when output level is 140 minutes‚ marginal revenue equals marginal cost ($10000=$10000)‚ so the profit-maximizing level of output is 140 minutes. (d) When the industry exists positive economic profit‚ it will attract new firms to enter into the industry. However‚ no more licenses will be offered by government‚ so no any new firm entering the industry. (e)(i) Collusion is a formal or tacit agreement to limit competition by setting output
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Chapter 1 The Big Ideas in Economics Think of why some goods should be allocated by money while some not. Why demand curve is downward sloping? Two effects: 1.Substitution effect (dominent) 2.Income effect (small) The demand&supply curve can be read horizontally or vertically. You should be familiar with both ways of reading. Chapter 3 Supply&Demand Concepts: 1.A normal good: a good for which demand increases when income increases. An inferior good: a good for which demand decreases
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rise and fall? There are several factors that cause gas prices to fluctuate. One factor being the price of crude oil itself. Crude oil is used in the production of gasoline‚ so it ’s an essential component. Secondly seasonality plays a part in the pricing of gas. This means at specific times during the year gas prices may differ for various reasons. Lastly futures market influence the price of gas by changing the price of oil itself. One of the biggest factors that effects the price of gasoline
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