Chapter One Technical Problem 2 a) Implicit Costs: Opportunity cost = $500‚000 x 14% = $70‚000 Explicit Costs: What is paid for products/services = $80‚000 Total Economic Costs: Implicit Costs + Explicit Costs = $70‚000 + $80‚000 = $150‚000 b) Economic Profit: Total Revenues – Total Economic Cost = $175‚000 - $150‚000 = $25‚000 c) Accounting Profit: Total Revenues – Explicit Costs = $175‚000 - $80‚000 = $95‚000 d) New Implicit Costs = $500‚000 x 20% = $100‚000 Economic Profit: $175‚000 –
Premium Economic cost Opportunity cost Supply and demand
ECM002 Business Economics Instructions: Please answer four out of the following six following questions: Question 1. Suppose Cola- Sol and Miniranda are the only two companies producing a particular type of cola drink in the soft drink industry. Both companies are considering launching a new drink with a light lemon twist. They can launch their products either at a low price or at a high price. The expected net payoffs are the following: If both companies choose a high price strategy‚ Cola-
Premium Economics Consumer theory Game theory
1. In the table below‚ the random variable x represents the number of cups or cans of caffeinated beverages consumed by Americans each day‚ based on data from the National Sleep Foundation. Determine whether or not the data represent a probability distribution. *If the data represent a probability distribution‚ find its mean and standard deviation. * If the data don’t represent a probability distribution‚ identify the requirement(s) for a probability distribution that is not satisfied.
Free Random variable Standard deviation
BUSINESS STATISTICS Agenda Introduction Descriptive Statistics One–Tailed Test About a Population Mean t-Test Using Two Independent Samples t-Test For Paired Samples Analysis of Variance (ANOVA) Regression Analysis U.S. Patent and Trademark Office (PT0) Descriptive Statistics Frequency Vs Total Provisional Filings One–Tailed Test About a Population Mean Selected a small sample of 12 months’ provisional application filings for large US entities (for fiscal year 1996) 1. Determine the Hypotheses
Premium Statistics
CHAPTER 5 ACTIVITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT 5-16 (20 min.) Cost hierarchy. 1. a. Indirect manufacturing labor costs of $1‚450‚000 support direct manufacturing labor and are output unit-level costs. Direct manufacturing labor generally increases with output units‚ and so will the indirect costs to support it. b. Batch-level costs are costs of activities that are related to a group of units of a product rather than each individual unit of a product. Purchase order-related
Premium Costs Variable cost Cost accounting
Assignment on Micro-Economics Submitted To: Md. Ridwan Reza Lecturer Department of Business Administration Leading University‚Sylhet. Submitted By: Rahat Sarwat Md. Sal Sabil ID: 1001010143 Md. Saddam Hussain ID: 1001010101 Adnan Islam ID: 1001010144 Syed Shaker Ahmed ID: 1001010125 Md. Lahinur Rahman ID: 1001010129
Premium Economics Good
Statistic Report for UNITE AUTOMOBILE ENTERPRISE Lecturer:- Dr Haslindar Ibrahim Prepared by:- Zalifah Che Embee (DL1010195) Habibah Kadir (DL1013072) Zahari Sehak (DL1016065) Mohd Aswad Abd Karim (DL1018773) Shahrul Asmadi Shahmarudin(DL1010501) Introduction Unite Automobile Enterprise was established in January 2009. The company is involved in selling various types of domestic and import cars. Unite Automobile Enterprise sales have been particularly slow this past year. Unite
Premium Statistical hypothesis testing Null hypothesis
Management Unit Title: Economics for Business Submitted by: B. M. Akhtaruzzaman London Guildhall College ATHE Level 6 Diploma in Management Unit Title: Economics for Business Submitted by: B. M. Akhtaruzzaman Table of Contents Introduction 2 Task 1 - Understanding of the Micro-Economic Business Environment 3 1.1: The Importance of the Micro-Economic Environment to Business Organisations 3 1.2: An Analysis of Business Objectives and Business Behaviour in the Economic Context 4 1
Free Economics
INTRODUCTION Statistics and mathematics are everything to economics. infact statistics and Mathematics‚ the economic field wouldn’t even exist. Economist need statistics to represent data‚ to track and store information‚ to identify trends‚ to attribute value and mathematics to calculate those figures.The way to look at the relationship between statistics and economics is that economics is essentially the study of human decisions and trends‚ and how these have a financial impact. Economists
Premium Statistics Statistical significance Statistical hypothesis testing
CHAPTER 1 1. Internal expansion involves a normal increase in business resulting from increased demand for products and services‚ achieved without acquisition of preexisting firms. Some companies expand internally by undertaking new product research to expand their total market‚ or by attempting to obtain a greater share of a given market through advertising and other promotional activities. Marketing can also be expanded into new geographical areas. External expansion is the bringing together
Premium Generally Accepted Accounting Principles Economics Balance sheet