capture elements the GDP doesn’t --Genuine Progress Indicator --GPI: adds to GDP --Social indicators, economic indicators, environmental indicators --subjective values (criticism re: GPI). Human Development Index --accounts for quality of life, cost of education, Life expectancy, Challenges in Modern Market Economies --buy whatever we want --compare $ for price/value --competition --motivation to take risks/find a need Disadvantages: --too much choice, too
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Macroeconomics Final Paper Perfect Competition is a market structure of a commodity or service that has a fixed price. This market structure is designed to minimize loss and maximize revenue with a fixed cost. This fixed price may rise or fall however, no one firm or company that decides to enter this market has to be willing to accept whatever this price may be. A firm will not succeed in an attempt to make a profit by initially lower its price to out sell its competition. This strategy will
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PRACTICE QUESTIONS QUESTION 1: Consider a government that is contemplating introducing a gasoline tax to reduce gasoline consumption together with a (lump-sum) rebate to consumers to alleviate the negative e ect of the gasoline tax on their well-being. Use an indi erence curve map for two goods (gasoline and other goods) to show (a) the equilibrium if the rebate is based on the nal (post-tax) consumption of gasoline, (b) the equilibrium if the rebate is based on the original (pre-tax) consumption
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ECON 340 Mathematical Economics Fall 2002 Optional Exam 4 10 December, 2002, 1:00 PM Name Instructions This is the fourth midterm examination for Econ 340, fall 2002 semester, at George Mason University. Due to the recent class cancellation, I may not be able to require you to take this examination, therefore you may take this exam at your option. It would be to your advantage to take the exam in the sense that it allows you to spread the weight of your midterm exams over four exams as opposed
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FRE 6023 Fall 2007 Midterm Exam Polytechnic University Professor Barry Blecherman Tuesday 23 October 2007 This is an open-book, open-note, open-computer exam – there is no reason that I can anticipate that you’ll need a computer, but you may use one if you wish to. Please do not speak unless asking me a question and please keep your eyes focused on your own work. Please keep your handwriting neat, and remember that I can only give full/partial credit if I understand what you’ve written
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Ethical and Professional Standards The candidate should be able to demonstrate a thorough knowledge of the CFA Institute Code of Ethics and Standards of Professional Conduct, familiarity with the Global Investment Performance Standards, and familiarity with corporate governance issues and risks affecting companies. Study Session 1 Ethical and Professional Standards Reading Assignments 1.* “Code of Ethics and Standards of Professional Conduct” Standards of Practice Handbook, 9th edition
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agree with Senator Brown. we should agree with Senator Johnson. a good decision requires that we recognize both viewpoints. there are no tradeoffs between equity and efficiency. Save Question 2 (1 point) When you calculate your true costs of going to college, what portion of your room-and-board expenses should be included? Question 2 options: Your full room-and-board expenses should always be included. None of your room-and-board expenses should ever be included. You should
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#3.) a) Compute the marginal cost curve for Ajax Solution: The marginal cost is the first derivative of the total cost curve w.r.t. Q MC=dTC/dQ = -5000 + 2*100Q = 200Q-5000 b) Given Ajax's pricing strategy, what is the marginal revenue function for Ajax Solution: The price charged by the Ajax is taken from the market and not decided based on its supply curve so we have MR=P=$20,000 c) Compute the profit-maximizing level of output for Ajax Solution: The profit
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Review of Mathematical Concepts Used in Managerial Economics Analytical Questions 1) The demand curve is given by: QD = 5000 - 10 P Find equations for: a. Total revenue b. Marginal revenue Answer: a. TR = P*Q = (500 – 1/10 Q)Q = 500Q – 1/10 Q2 b. MR = 500 – 1/5Q 2) The demand curve is given by: QD = 5000 - 10 P Find the price and quantity at which total revenue is maximized and the maximum revenue. Answer: MR = 500 - 1/5Q 0 = 500 - 1/5Q Q = 2500 P = 250
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led to increased competition. Increased competition has and will continue to force Ryanair to reduce fare prices. · Costs: Regulation, although beneficial in some regards (cut-price deals), has also been costly for Ryanair. An unfavorable ruling by the EU in February 2004 put pressure on Ryanair's stock price and raised uncertainty among investors. Of more concern are rising costs associated with labor and fuel, which could increase fares and reduce margins and overall profitability. · Macroeconomic
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