NAME- JACOBS OPEYEMI APRIL 01‚ 2013 MBA 640 TOPIC –OBESITY AND EFFECTS ON ECONOMIC PRODUCTION INTRODUCTION This study aimed to estimate the health burden and the direct as well as indirect costs of morbidity and mortality attributable to obesity and overweight to the national economy and recovery process. Simply stated‚ Obesity occurs when a person consumes more calories than he or she burns. Obesity is a condition defined by a person ’s weight. Although genetics may increase the risk of obesity
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THE COSTS OF PRODUCTION 5080260350 Chapter in a Nutshell 00 Chapter in a Nutshell In general‚ a firm’s production may take place in the short-run or the long-run period. The short run is a period in which the quantity of at least one input is fixed and we can vary the quantities of the other inputs. The long run is a time in which all inputs are considered to be variable in amount. The relationship between physical output and the quantity of resources used in the production process is called
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ECON 232 Homework (Essay) 10.25.2014 1) A production point beyond the production possibilities frontier represents what? Points outside the frontier are unattainable. These points describe wants that can’t be satisfied. 2) Explain how the production possibilities frontier illustrates scarcity. The production possibilities frontier illustrates scarcity through showing us that if there is a production point beyond the PPF then‚ it is unattainable. Meaning‚ we can’t make
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it wants at a price of $1.50 per pencil. At some production levels‚ its average variable costs are less than $1.50‚ but there is not production level where its average total cost is equal or less than $1.50. What would be your recommendation to the pencil manufacturer? a) Increase production to decrease fixed costs per unit. b) Exit the business immediately. c) Continue production in both the short and long runs. d) Continue production in the short run‚ but exit the business in the long
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marginal revenue of $10 for the last unit produced and sold. What is the average revenue per unit‚ and how many units were sold? a. $5 and 50 b. $5 and 100 c. $10 and 50 d. $10 and 100 When a profit-maximizing firm in a competitive market has zero economic profit‚ accounting profit a. is negative (accounting losses). b. is positive. c. is also zero. d. could be positive‚ negative or zero. When a competitive firm triples the amount of output it sells‚ a. its total revenue triples. b. its average revenue
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Economics Chapter 7 Analysis of Costs Costs affect input choices‚ investment decisions‚ and even the decision of whether to stay in business. A. Economics analysis of costs 1. Total cost: fixed and variable (1) Total cost represents the lowest total dollar expense needed to produce each level of output q. TC rises as q rises. (2) Fixed cost represents the total dollar expense that is paid out even when no output is produced. FC is unaffected by any variation in the quantity of output. (3)
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THEORY Overview of Huxley Maquiladora Huxley Manufacturing Company‚ a large firm in the defense industry‚ is considering a strategic move to shift production from its California plant to Mexico. Tariff reductions made possible by the North American Free Trade Agreement (NAFTA) opened up the potential to enjoy significant cost savings by shifting production south of the Mexican border. Huxley is considering three options. The simplest option is to negotiate a subcontracting arrangement in which a
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idea to expense it’s business with a skirt collection. To advise Cottontex the best as possible we first had to investigate if it would be realistic to expend the business of Cottontex. We had to set up a new production facility‚ which includes issues related to the expansion of the production facility. We also had to calculate what the cost will be for Cottontex‚ if they would expand their business. Summary The starting point of the project is the product. The required product is a straight cotton
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THEORY OF COST Cost minimisation in the long run Long-run average cost Productive efficiency References John Sloman‚ Economics William A. McEachern‚ Economics Richard G. Lipsey and K. Alec Chrystal‚ Positive Economics G. F. Stanlake and Susan Grant‚ Introductory Economics Michael Parkin‚ Economics David Begg‚ Stanley Fischer and Rudiger Dornbusch‚ Economics © 2011 Economics Cafe All rights reserved. Page 1 Written by: Edmund Quek 1 INTRODUCTION Explicit costs are costs that involve
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CFA® Level I – Economics Demand and Supply Analysis: The Firm www.irfanullah.co Graphs‚ charts‚ tables‚ examples‚ and figures are copyright 2012‚ CFA Institute. Reproduced and republished with permission from CFA Institute. All rights reserved. 1 Contents and Introduction 1. Introduction 2. Objectives of the Firm 3. Analysis of Revenue‚ Costs and Profits www.irfanullah.co 2 2. Objectives of the Firm • The objective of the firm should be to maximize shareholder value • This reading assumes
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