Chapter 1 – Applied Problem 1 § Explicit costs are monetary costs of using market-supplied resources. Explicit Costs | | Cost of Products and Services | $355‚000 | Selling Expenses | $155‚000 | Administrative Expenses | $45‚000 | Interest Expense | $45‚000 | Legal Expenses | $28‚000 | Income Taxes | $165‚000 | Total Explicit Costs | $793‚000 | § Implicit costs are non-monetary costs of using owner-supplied resources. Implicit Costs | | Forgone Salary | $175‚000
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Patricia Haro Reading 301 Cooked by Jeff Henderson In the first chapter‚ Jeff the main character‚ in this story was searching to find a job to provide for his family. He was an ex-convict which was harder for him to find a job. A lot of employers were more interested on why he was in prison than the new life he was trying to pursue. He talked about how he used to cook and sell crack cocaine for a large profit of money. However he was arrested and was sent to prison where he found
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Chapter 02 - Economists’ View Of Behavior CHAPTER 2 REVIEW QUESTIONS 2–1. Which costs are pertinent to economic decision making? Which costs are not relevant? The marginal (incremental) costs and benefits are pertinent to economic decision making. Sunk costs and benefits are not relevant. In economics‚ “bygones are forever bygones.” 2-3. The Solace Company has an inventory of steel that it originally purchased for $20‚000. It currently has an offer to sell the steel for $30‚000. Should
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The next morning‚ the boys gather on the beach to discuss what the hunters saw. Ralph tells Piggy about the creature on the mountain‚ which he describes as a beast with teeth and big black eyes. Piggy does not believe him. Jack tells the group that his hunters can defeat the beast‚ but Ralph intercut to say Jack’s group has nothing but sticks as weapons. Jack tells the other boys that the beast is a hunter‚ also telling them that Ralph thinks that the boys are weak. He continues his rant‚ claiming
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Benjamin Martin raises seven kids as a single father. His thing was building rocking chairs but he is not good at it. Then the town has a meeting. Benjamin Does not want to have war. The war goes on for two years and Gabriel write letters to his family. Then his little brother Thomas tells his dad that he wants to be in the army. His dad said two more years. He said that the war will be over by then. Outside their house gunfire is going on and Gabriel comes into the house bleeding. His dad and
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In 1929‚ Nick Carraway‚ a World War I veteran‚ is receiving treatment for alcoholism at a psychiatric hospital. He talks about Jay Gatsby‚ the most hopeful man he had ever met. Nick’s doctor suggests that he writes his thoughts down‚ since writing is Nick’s passion. In the summer of 1922‚ Nick moves from the Midwest to New York after abandoning writing. He rents a small house in the North Shore village of West Egg‚ next to the mansion of Gatsby‚ a mysterious business magnate who often holds extravagant
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2. Discuss and debate whether the often considered “benign” drug known as marijuana is or is not addictive. In your discussion/debate‚ consider the finding by the Substance Abuse and Mental Health Services Administration (SAMHSA) that in 2008 for persons age 12 or older‚ 41% (102.4 million) of illicit drug users used marijuana during their lifetime‚ and past-month users of this drug accounted for 6.1% (14.2 million) of all illicit drug users. Do you think this often-considered “benign” drug is harmless
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2-2: Chapter Questions Action Items Q/ 01 Why study operations management? Answer All businesses want to hire bright people who can make the best decisions for the business as a whole‚ not the best marketing‚ finance‚ or operations decisions. They want employees who can see the big picture of how these functional areas interact. You will severely limit your career if you take a narrow functional perspective. Every decision is cross-functional in nature2. You will be working with operations and
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scientific claims must rest on both theoretical and empirical support. 1. Ordinary human inquiry—people are naturally inquisitive‚ especially about what the future holds. Therefore‚ we often try to make predictions based on our own observations of the social world. Unfortunately‚ just because we can predict that X will cause Y‚ we may not be able to understand this relationship‚ which is a basic objective for sociologists. 2. Tradition—all cultures are infused with knowledge passed down
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Planning: 1) What would you do if you experience conflicting priorities? 2) Tell me about a time where you had several projects to handle. How did you handle it? It is common for managers to experience conflicting priorities and having several projects to do at the same time. By asking these two questions‚ the interviewer would be able to identify the interviewee’s ability to set priorities and to establish actions to achieve the goals and objectives. Communication: 1) Here is the
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