ASSIGNMENT 1 Busn 521: Managerial Economics This assignment is due on Friday Oct 17th‚ 2014. Problem Set 2 1. Pat and Kris are roommates. They spend most of their time studying (of course)‚ but they leave some time for their favorite activities: making pizza and brewing root beer. Pat takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Kris takes 6 hours to brew a gallon of root beer and 4 hours to make a pizza. a. What is each roommate’s opportunity cost of making a pizza
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PROBLEM SET 2 Name: ___________________________________ Problem Set 2 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 4. 1. The following table presents data for wages in the market for internet security professionals. (HINT: in the labor market the roles are reversed. Those who want to hire labor are the demanders. The workers enter the work force providing labor to the market place so they are the suppliers.) Wage Quantity Demanded Quantity supplied $50‚000 20‚000 14‚000 $60
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evaluation and selection Analyse possible alternative strategies relating to substantive growth‚ limited growth‚ and Market entry strategies‚ and disinvestment strategies IKEA has marketed its products well and has dealt with all the problems easily. But there have been some constraints that came in the way of IKEA and alternative strategies have to be developed for them. These strategies are as follows: Substantive growth: In any business strategy growth is the most important factor. To achieve substantive
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Problem Set 2 Name: __________________________________________ Problem Set 2 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 4. 1. The following table presents data for wages in the market for internet security professionals. (HINT: in the labor market the roles are reversed. Those who want to hire labor are the demanders. The workers enter the work force providing labor to the market place so they are the suppliers.) Wage Quantity Demanded Quantity Supplied $50‚000
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many problems. Telstra is following Classical approach of management as it seeks to achieve effectiveness by focusing on task efficiencies i.e. focusing on their next G wireless broadband and not on external stakeholders (Schermerhorn‚ Davidson‚ Poole‚ Simon‚ Woods‚ Chau‚ 2011‚ pg. 183). Telstra needs to use more humanistic or contingency approach of planning. This report will argue the need for Telstra to use more contingency approach of planning to regain its market dominance. • Problem Identification
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Supervision costs vary with direct labor costs in each department. 1. Calculate the budgeted cost of trophies and plaques based on a single plant-wide overhead rate‚ if total overhead is allocated based on total direct costs. 2. Calculate the budgeted cost of trophies and plaques based on department overhead rates‚ where forming department overhead costs are allocated based on direct labor costs of the forming department ‚ and assembly department overhead costs
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1. Explain the events that probably gave rise to journal entries 1 through 8 of exhibit 1. a. Entry 1: Miss barbarra Thompson opened the company investing USD 65‚000.00 cash and USD 100‚000.00 from Bank Borrowings. b. Entry 2: The company paid its Rent amounting to USD 1‚485.00 c. The company bought inventory items worth USD 137‚500.00 on credit. d. The company bought Furnitures and Fixtures (10 years useable life) for cash amounting to USD 15‚500.00 e. The company
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E17.15 Spear Custom Furniture uses an activity-based cost accounting system to apply overhead to production. The company maintains four overhead cost pools. The four cost pools‚ and their budgeted amounts for the upcoming period‚ are as follows: Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40‚000 Materials handling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20‚000 Set-ups
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Problem Set 2 Complete all questions listed below. Clearly label your answers 1. What impact would a change that shifts an economy’s production possibilities curve outward have on the long run aggregate supply curve? How have improvements in computer technology affected production possibilities and the long run aggregate supply curve? Explain Answer: Growth of population and the labor-force participation rate Capital accumulation Improvements in technology 2
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CASE PROBLEM 2 MOTION PICTURE INDUSTRY: The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new motion pictures each year‚ and the financial success of each motion picture seems to vary considerably. The opening weekend gross sales‚ the total gross sales‚ the number of theaters the movie was shown in‚ and the number of weeks the motion picture was in the top 60 for gross sales are common variables used to measure the success of a motion picture
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