part-time employer. For a product of your choice: 1. Clearly explain the main cost elements and the nature of those costs – define and give relevant examples of variable‚ fixed‚ semi-variable‚ direct and indirect costs 2. Suggest the weekly production level and a breakdown of costs for one product from your chosen business. Then calculate the marginal and absorption costs per unit. 3. Describe at least 2 methods of setting the price‚ including cost-plus pricing. Then suggest which method is best
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reduction in income will result. If you can sell the inventory in a foreign market‚ legally‚ there will be no write-down and no income reduction. A reduction of that magnitude would substantially lower share market price‚ which in i=turn would lead your large your large‚ institutional shareholders to demand explanations and possibly seek changes in your company’s board of directors. In short‚ the write-down would set off a wave of events that would change the structure and stability of your firm
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different b) will want to trade if they are on the contract curve c) will not want to trade if their consumption bundles are not Pareto-efficient d) will only want to trade if they are not at their endowment e) may want to trade if the price ratio is not equal to one answer a If MRSA is not equal to MRSB‚ the two consumers will be able to arrange a mutually beneficial trade. Mutually beneficial trade will not occur only when the allocation of resources among A and B is already efficient
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Factory conditions were harsh in the 1800’s because they had to worked a lot‚ factories had no heating or cooling systems‚ and there were a lot of rapidly movings machines which workers‚ especially children‚ were often hurt by the machines. There were a lot of other things that were bad about this and these are just a few. Factory conditions were harsh in the 1800’s. One reason was that they had to work a lot. Back then the average workday was 11.4 hours and this caused the workers to get tired
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I will identify the structure of markets within the economy and explain how they deviate from the model of perfect competition. I will also expand on which market forces dominate the market place‚ identifying the organisational responses to demand including the adoption of competitive strategies within the free market. Finally I will explain the role of the competition commission and regulatory bodies. Market Types The most important factor within any market is the number of rivals competing
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Explain how animals in art can reflect cultural values. Throughout the centuries‚ animals have appeared in works of art. The animals are often linked to cultural values. Cultural values are what is accepted or believed to be right in a culture. Cultural values differ between places and times‚ for example the Old Stone Age cave paintings at Lascaux in France(15 000-10 000 BC)‚ give us an insight into the importance of the animals to the existence of the people at that time. While in Surprise‚ painted
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Demand‚ Supply and Market Price Determination Consumer behaviour Utility is the economist’s term for the satisfaction a customer derives from the goods that they buy. Marginal utility is the increase in total utility arising from an increase in consumption by one more. For example‚ suppose I like eating bananas‚ and I have already eaten one banana; then the satisfaction I get from consuming a second banana is called by economists the marginal utility. Marginal utility is the utility gain from
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Bloom ’s: Knowledge Difficulty: Easy Learning Objective: 1 2. Inflation is assumed to be a temporary problem that does not affect financial decisions. FALSE Bloom ’s: Understanding Difficulty: Easy Learning Objective: 1 3. Financial Capital is composed of long-term plant and equipment‚ as well as other tangible investments. FALSE Bloom ’s: Knowledge Difficulty: Easy Learning Objective: 1 4. Real Capital is composed of long-term plant and equipment. TRUE Bloom ’s: Knowledge
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The Law of One Price in Financial Markets Owen A. Lamont and Richard H. Thaler The Law of One Price is an economic way of rational perspective to explain the expectation of price uniformity of a particular commodity or say any economics goods across national boundaries. The law tries to explain what a market price condition of a given goods should be‚ all things being equal‚ across global boundaries. This law will hold where every variable that has a causality effect on price variation are held
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An efficient capital market is one in which stock prices fully reflect available information. Professor Andrei Shleifer has suggested three conditions lead to market efficiency. (1)rationality‚ (2)independent deviations from rationality‚ and (3)arbitrage. This essay will examine investors’ behavioral biases and then discuss the behavioral and empirical challenges to market efficiency. In the attached article‚ James Montier suggested three behavioral biases that investors had. (1) illusion of control
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