...cost of the $75,000 salary offer if the management position is the best alternative to her current position. 3. A - We must give up something in order to get more of another. Note that increasing opportunity costs tells us the shape of the curve, not why we have a negative slope. 4. A 5. C 6. B - Set 6 = 10 –2×Q, solve for Q = 2. Thus ε =(1/-2)×(6/2) = |-1.5|. 7. A - Set 5 = 20 –5×Q, solve for Q = 3. Thus, TR = P×Q = 5×3 = 15. 8. C - Since a perfectly competitive firm has no control over the market price, the only decision to make is how much to produce. 9. C 10. E 11. C; that is, inelastic demand. 12. A 13. C 14. C 15. B 16. A 17. E 18. E 19. C 20. C 21. D 22. E 23. D 24. B 25. C 26. C 27. D 28. C 29. D 30. B Part B: Short-Answer Questions B1. Rational Spending Rule David has two leisure activities – riding his new Triumph “Bonneville” motorcycle and growing award-winning orchids. David estimates that an hour’s worth of riding his motorcycle costs him $15 while an hour’s worth of orchid growing costs him $5. a) Assume David spends $100.00 per month on these two activities, “consuming” them in full hours only. How many hours/month will he ride his motorcycle? How many hours/month will he grow orchids? Explain your answer. The Rational Spending Rule stipulates that spending is allocated across goods so that the marginal utility...
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...PRICES & MARKETS Tutorial Exercises and Supplementary Materials RMIT University This document has been prepared for use in the Prices & Markets course at RMIT UniA versity. The file was compiled using L TEX, an open source typesetting system, and is viewable in all standards compliant PDF viewers. The PDF has been formatted for two-sided printing. Please address any queries to: pricesandmarkets@rmit.edu.au Copyright Martin C. Byford (2012). This version compiled on Thursday 6th December, 2012. Contents Using This Volume 1 Introduction to Demand and Supply 1.1 Quiz . . . . . . . . . . . . . . . . . . 1.2 Group Exercise . . . . . . . . . . . . 1.3 Homework Questions . . . . . . . . . 1.4 Homework Solutions . . . . . . . . . 2 Elasticity 2.1 Quiz . . . . . . . . . 2.2 Group Exercise . . . 2.3 Homework Questions 2.4 Homework Solutions iii 1 1 3 4 5 9 9 11 12 13 15 15 17 18 19 25 25 27 28 29 33 33 35 36 37 39 39 41 42 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
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...Managerial Finance Important Exercises and Problems for the Final Prepared by Lody Previous Final Exam Qs BMMF Final Exam 2010 Part 1 : answer the first two questions then choose 2 only Q1 - the same as question (13-10) & (13-8) - [15 mark] Q2 - he gave us some equations and asks us to find : [10 marks] (a) the sales using 3 formulas , i think first we used Current Ration to find Total Liability , then Quick Ratio to find Inventories then Inventory turnover to get the sales (b) the DSO first we must find the Receivables = Total assets - (cash & short-term investments + inventories) then find the DSO = Receivables / sales / 365 Q3- [7.5 marks] (a) define LRP (b) similar question to 1-4 Q4- [7.5 marks] the same question as 6-1 Q5- [7.5 marks] the same question as ST-1 from chapter 10 Part 2 : answer only 2 questions Q1- what are the key features bond ? and Discuss The relationship between Coupon interest and Market interest? Q2- - What are the differences between Systematic risk and Unsystematic risk ? - Define Standard Diviation - Q3- what is the difference between Independent & Mutualy Exclusive projects , give example of each Contents Interest Rate calculation6 Problem 1-1 (Expected Rate of Interest) page 426 Another clear answer: (1-1)7 Problem (1-2) page 42, Default Risk...
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...Introduction to Economics Course outline Instructor/ teaching assistants details Details | Instructors name | Ayesha Samie | Email address | ayesha_samie@yahoo.com | Counseling hours | | Teaching assistants name | Uroosa Jeelani | Email address | uroosaj@gmail.com | Tutorial timings and days | Thursday 12:45-13:45 | About the course. This course will teach students the basic tools of microeconomics and macroeconomics issues such as price determination, supply and demand, consumer behavior, costs of production and market structures growth, inflation, unemployment, interest rates, exchange rates, technological progress, budget and trade deficits. The course will provide a unified framework to address these issues and to study the impact of different policies, such as monetary and fiscal policies, on the aggregate behavior of individuals. Evaluation of Student Performance: | Weightage in grade | Hourlies | 30% (15% of each hourly) | Final exam | 30% | Assignments/presentations/quizzes | 25% | Class Participation | 15% | Total | 100 | Description of each component: * The term exams (hourlies) and final exam will be conducted as per the rules set by IBA. There will be no makeup exams, unless instructed. All IBA rules of examination apply to undertaking the exam * Assignments will be split in class assignments and home assignments. Class assignments must be handed over to the instructor at the end of the class (unless otherwise)...
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...Chapter 1 Introduction Multiple-Choice Questions 1) Which of the following is an example of how the question of "what goods and services to produce?" is answered by the command process? A) government subsidies for affordable housing B) laws regarding equal opportunity in employment C) government allowance for the deduction of interest payments on private mortgages D) government regulations concerning the dumping of industrial waste Answer: A 2) Opportunity cost is best defined as A) the amount given up when choosing one activity over all other alternatives. B) the amount given up when choosing one activity over the next best alternative. C) the opportunity to earn a profit that is greater than the one currently being made. D) the amount that is given up when choosing an activity that is not as good as the next best alternative. Answer: B 3) In a market economy, which of the following is the most important factor affecting scarcity? A) the needs and wants of consumers B) the price of the product C) the degree to which the government is involved in the allocation of resources. D) All of the above are equally important. Answer: A 4) Which of the following is not considered by economists to be a basic resource or factor of production? A) money B) machinery and equipment C) technology D) unskilled labor Answer: A 5) Select the group that best represents the basic factors of production...
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...QUICK REFERENCE GUIDE I) Security Sign on to computer Sign off the computer Display all work areas AMADEUS JI3115TS/SU JO* JD GALILEO SON/ZAW SOF OP/W* ABACUS / SABRE SI* SO* *S* WORLDSPAN BSI$0001XX/GS BSO$ B$ II) Information and Help Display index of information chapters Request help GGAIS HE GG* H/ or HELP F*FOX F*FOX/CAR HELP GRS HELP III) Encode and Decode City - encode City - decode Country - encode Country - decode Airline – encode Airline – decode Aircraft equipment – encode Aircraft equipment – decode City record DAN JERSEY DAC NYC DC FINLAND DC AU DNA IBERIA DNA EI DNE FOKKER DNE 744 GGAPTLHR .CE JERSEY .CD NYC .LE FINLAND .LD AU .AE IBERIA .AD EI .EE FOKKER .ED 744 .CR LHR W/-CCLONDON W/*LON HCCC/INDIA HCCC/IN W/-ALKINGFISHER W/*IT W/EQ-BOEING W/EQ*744 NA KC/JERSEY KD/JER 4C*FINLAND 4C*F KAC/IBERIA KAD/EI NOT APPICABLE HELP EQP747 NOT APPICABLE IV) Scrolling Move down Move up Move bottom Move top MD MU MB MT MD MU MB MT MD MU MB MT MD MU MB MT V) Printing Print all fields of the BF Print ticket, itinerary and MIT for all passengers Print ticket only Create electronic ticket WRA/ TTP/INV/IBPI TTP TTP/ET P-*ALL TKP TKPDTD TKPET DIT¥DPI W¥ETR¥DPE W¥DPE W¥ETR JTXXXRR/*A EZT EZEL#HV#DR#*IX EZE VI) Air Availability Display availability for today Display more availability Display availability by date & time Display availability by Airline Direct link to carrier ANZRHLON MD AN18JULZRHCPH1400...
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...CHAPTER SIX Coordinate Geometry Coordinate geometry is geometry done in the number plane, using algebra. • Points are represented by pairs of numbers, and lines by linear equations. • Circles, parabolas and other curves are represented by non-linear equations. Points, lines and intervals are the main topics of this chapter. 6 A Lengths and Midpoints of Intervals An interval is completely determined by its two endpoints. There are simple formulae for the length of an interval and for the midpoint of an interval. The Distance Formula: The formula for the length of an inter- y val P Q is just Pythagoras’ theorem in different notation. Let P (x1 , y1 ) and Q(x2 , y2 ) be two points in the plane. Construct the right-angled triangle P QA, where A(x2 , y1 ) lies level with P and vertically above or below Q. Then P A = |x2 − x1 | and QA = |y2 − y1 |, and so by Pythagoras’ theorem in P QA, Q(x2,y2) y2 y1 P(x1,y1) x1 A x2 x P Q2 = (x2 − x1 )2 + (y2 − y1 )2 . DISTANCE FORMULA: Let P (x1 , y1 ) and Q(x2 , y2 ) be two points in the plane. Then 1 P Q2 = (x2 − x1 )2 + (y2 − y1 )2 . • First find the square P Q2 of the distance. • Then take the square root to find the distance P Q. WORKED EXERCISE: Find the lengths of the sides AB and AC of the triangle with vertices A(1, −2), B(−4, 2), and C(5, −7), and hence show that ABC is isosceles. SOLUTION: First, AB 2 = (x2 − x1 )2 + (y2 − y1 )2 2 so = − 4 − 1 + 2 − (−2) = (−5)2 +...
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...The Food Crises: A quantitative model of food prices including speculators and ethanol conversion Marco Lagi, Yavni Bar-Yam, Karla Z. Bertrand and Yaneer Bar-Yam New England Complex Systems Institute 238 Main St. Suite 319 Cambridge MA 02142, USA reviewed by: C. Peter Timmer - Cabot Professor of Development Studies emeritus. Harvard University Jeffrey C. Fuhrer - Executive Vice President and Senior Policy Advisor. Federal Reserve Bank of Boston Richard N. Cooper - Maurits C. Boas Professor of International Economics. Harvard University Thomas C. Schelling - Distinguished Professor of Economics emeritus. University of Maryland (Dated: September 21, 2011) Abstract Recent increases in basic food prices are severely impacting vulnerable populations worldwide. Proposed causes such as shortages of grain due to adverse weather, increasing meat consumption in China and India, conversion of corn to ethanol in the US, and investor speculation on commodity markets lead to widely differing implications for policy. A lack of clarity about which factors are responsible reinforces policy inaction. Here, for the first time, we construct a dynamic model that quantitatively agrees with food prices. The results show that the dominant causes of price increases are investor speculation and ethanol conversion. Models that just treat supply and demand are not consistent with the actual price dynamics. The two sharp peaks in 2007/2008 and 2010/2011 are specifically due to investor...
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...Vector Space and Linear Transformation Determinant, Inverse Matrix, and Cramer’s rule Differential Calculus and Comparative Statics Comparative Statics – Economic applications Optimization Optimization–multivariate case Optimization with equality constraints and Nonlinear Programming General Equilibrium and Game Theory 1 5 10 16 25 36 44 61 74 89 1 1 Static Economic Models and The Concept of Equilibrium Here we use three elementary examples to illustrate the general structure of an economic model. 1.1 Partial market equilibrium model A partial market equilibrium model is constructed to explain the determination of the price of a certain commodity. The abstract form of the model is as follows. Qd = D(P ; a) Qd : Qs : P: a: Qs = S(P ; a) Qd = Qs , quantity demanded of the commodity quantity supplied to the market market price of the commodity a factor that affects demand and supply D(P ; a): demand function S(P ; a): supply function Equilibrium: A particular state that can be maintained. Equilibrium conditions: Balance of forces prevailing in the model. Substituting the demand and supply functions, we have D(P ; a) = S(P ; a). For a given a, we can solve this last equation to obtain the equilibrium price P ∗ as a function of a. Then we can study how a affects the market equilibrium price by inspecting the function. Example: D(P ; a) = a2 /P , S(P ) = 0.25P . a2 /P ∗ = 0.25P ∗ ⇒ P ∗ = 2a, Q∗ = Q∗ = s d 0.5a. 1.2 General equilibrium model Usually, markets for...
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...MIcroeconomics: Markets, Methods & Models Douglas Curtis and Ian Irvine | Version 2014/2015 $ ADAPTED OPEN TEXT FORMATIVE ONLINE ASSESSMENT COURSE SUPPLEMENTS COURSE LOGISTICS & SUPPORT a d v a n c i n g l e a r n i n g www.lyryx.com Copyright This work is licensed under a Creative Commons AttributionNonCommercial-NoDerivs 3.0 Unported License. http://creativecommons.org/licenses/by-nc-nd/3.0/deed.en_GB Douglas Curtis and Ian Irvine Edition 1.11 This edition is differentiated from the first edition solely by minor editorial adjustments. Content has not been altered. Microeconomics: Markets, Methods and Models About the Authors Doug Curtis is a specialist in macroeconomics. He is the author of twenty research papers on fiscal policy, monetary policy, and economic growth and structural change. He has also prepared research reports for Canadian industry and government agencies and authored numerous working papers. He completed his PhD at McGill University, and has held visiting appointments at the University of Cambridge and the University of York in the United Kingdom. His current research interests are monetary and fiscal policy rules, and the relationship between economic growth and structural change. He is Professor Emeritus of Economics at Trent University in Peterborough, Ontario, and Sessional Adjunct Professor at Queen’s University in Kingston, Ontario Ian Irvine is a specialist in microeconomics, public economics, economic inequality...
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...This page intentionally left blank Managerial Economics Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. This textbook covers all the main aspects of managerial economics: the theory of the firm; demand theory and estimation; production and cost theory and estimation; market structure and pricing; game theory; investment analysis and government policy. It includes numerous and extensive case studies, as well as review questions and problem-solving sections at the end of each chapter. Nick Wilkinson adopts a user-friendly problem-solving approach which takes the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, providing an understanding of how the relevant principles can be applied to real-life situations involving managerial decision-making. This book will be invaluable to business and economics students at both undergraduate and graduate levels who have a basic training in calculus and quantitative methods. N I C K W I L K I N S O N is Associate Professor in Economics at Richmond, The American International University in London. He has taught business and economics in various international institutions in the UK and USA, as well as working in business management in both countries. Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo Cambridge...
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...This page intentionally left blank SEVENTH EDITION Fundamentals of Heat and Mass Transfer THEODORE L. BERGMAN Department of Mechanical Engineering University of Connecticut ADRIENNE S. LAVINE Mechanical and Aerospace Engineering Department University of California, Los Angeles FRANK P. INCROPERA College of Engineering University of Notre Dame DAVID P. DEWITT School of Mechanical Engineering Purdue University JOHN WILEY & SONS VICE PRESIDENT & PUBLISHER EXECUTIVE EDITOR EDITORIAL ASSISTANT MARKETING MANAGER PRODUCTION MANAGER PRODUCTION EDITOR DESIGNER EXECUTIVE MEDIA EDITOR PRODUCTION MANAGEMENT SERVICES Don Fowley Linda Ratts Renata Marchione Christopher Ruel Dorothy Sinclair Sandra Dumas Wendy Lai Thomas Kulesa MPS Ltd. This book was typeset in 10.5/12 Times Roman by MPS Limited, a Macmillan Company and printed and bound by R. R. Donnelley (Jefferson City). The cover was printed by R. R. Donnelley (Jefferson City). Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our company is built on a foundation of principles that include responsibility to the communities we serve and where we live and work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address the environmental, social, economic, and ethical challenges we face in our business. Among the issues we are addressing...
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...TeAM YYeP BUSINESS G Digitally signed by TeAM YYePG DN: cn=TeAM YYePG, c=US, o=TeAM YYePG, ou=TeAM YYePG, email=yyepg@msn.com Reason: I attest to the accuracy and integrity of this document Date: 2005.04.20 19:31:36 +08'00' ECONOMICS AND MANAGERIAL DECISION MAKING Trefor Jones Manchester School of Management UMIST 4 PART I g CORPORATE GOVERNANCE AND BUSINESS OBJECTIVES INTRODUCTION Firms are major economic institutions in market economies. They come in all shapes and sizes, but have the following common characteristics: g g g g g g Owners. Managers. Objectives. A pool of resources (labour, physical capital, ¢nancial capital and learned skills and competences) to be allocated roles by managers. Administrative or organizational structures through which production is organized. Performance assessment by owners, managers and other stakeholders. Whatever its size, a ¢rm is owned by someone or some group of individuals or organizations. These are termed shareholders and they are able to determine the objectives and activities of the ¢rm. They also appoint the senior managers who will make day-to-day decisions. The owners bear the risks associated with operating the ¢rm and have the right to receive the residual income or pro¢ts. Where ownership rights are dispersed, control of the ¢rm may not lie with the shareholders but with senior managers. This divorce between ownership and control and its implication for the operation and performance of the ¢rm is...
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...SECOND EDITION ELECTROCHEMICAL METHODS Fundamentals and Applications Allen J. Bard Larry R. Faulkner Department of Chemistry and Biochemistry University of Texas at Austin JOHN WILEY & SONS, INC. New Yorke Chichester • Weinheim Brisbane e Singapore e Toronto Acquisitions Editor David Harris Senior Production Editor Elizabeth Swain Senior Marketing Manager Charity Robey Illustration Editor Eugene Aiello This book was set in 10/12 Times Roman by University Graphics and printed and bound by Hamilton. The cover was printed by Phoenix. This book is printed on acid-free paper, oo Copyright 2001 © John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 605 Third Avenue, New York, NY 10158-0012, (212) 850-6011, fax (212) 850-6008, E-Mail: PERMREQ@WILEY.COM. To order books or for customer service, call 1 (800)-CALL-WILEY (225-5945). Library of Congress Cataloging...
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...756 Maths In Focus Mathematics Extension 1 Preliminary Course Answers 8. o oo oo o (a) 0.83 (b) 0.07 (c) 0.13 (d) 0.16 o oo o or 0. 142857 (h) 1.18 (g) 0.142857 9. (a) 8 9 (h) Chapter 1: Basic arithmetic 13 60 Problem 5 Exercises 1.1 1. 2. (a) Rational (b) Rational (e) Rational (f) Irrational (i) Rational (j) Irrational (e) - 4.3 (a) 18 (b) 11 (c) 6 (d) 11 (h) 1 3. (c) Rational (g) Irrational 19 20 (i) 2 (j) 3 (d) Irrational (h) Rational (f) −1 (g) 2 7 15 1 3 (f) 0.17 (g) 0.36 (h) 1.20 (i) - 4.27 1300 8. 5. 950 600 16. 1.7 6. 3000 (j) 8.16 1. 7. 11 000 8. 17. 79 cents 18. 2.73 19. 1.1 20. 3.6 m 21. $281.93 22. 1.8 g (b) 2 3 20 (d) 12. 0.73 13. 33 14. 3.248 15. 4.21 Exercises 1.2 6. - 1.2 10. - 2 15. 5 3. - 56 4. 10 (a) 7. - 7.51 8. - 35.52 11. - 7 12. −23 13. 10 (b) 17. 1 14. 1 18. 60 19. −20 20. 9 51 1000 (c) 5 1 20 (d) 11 7 20 3 (e) 5 (a) 4. 7 18 (d) 2 6 11 (g) 7 45 oo (e) 1.72 4 45 (e) 14. 17.5% 3 28 17 20 3. (a) 15. 41.7% (b) 7 10 (c) 1 7. $65 179 cm 9. (a) 11.9 (b) 5.3 (c) 19 (d) 3.2 (e) 3.5 (f) 0.24 (g) 0.000 18 (h) 5720 (i) 0.0874 (j) 0.376 15. 402.5 g 19. 573 12. 1152.125 g 16. 41.175 m 13. $10.71 17. $30.92 20. $2898 5 minutes after 1 o’clock. 11 Exercises 1.5 1 ...
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