Assignment 1 Altha R. Maclin Odul Slonaker Strayer University 10-30-2011 1. You own a local sub shop in a college town. You primarily serve two groups of people: local residents (both students and other local residents) and visitors to your town. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy. At my sub shop I would cater more to
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Michael Jordan was a champion, the greatest basketball player to ever play the game. After winning his third championship with the Chicago Bulls there no was no doubt that Michael was the best. Jordan did something unheard of in today’s world of sports and decided to walk away. Too often superstars today milk as much fame and money out of their careers in professional sports. For Michael he knew there was more to life than just basketball. In the prime of his career Jordan was hit with the hardest
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Business Economics Contributors: Prof. Dr. S.S Haridas Prof. Bidhan Datta Prof. Kavita Ingale Prof. Neelkanth Athalye Prof. Dr. Manasi Gore Session Plan SR. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Business Economics (102) Topic Thinking like an Economist & Ten Principles of Economics Circular Flow, National Income, Measurement Identities Business cycle, Indian & Global Experience Types of Inflation (Demand Pull & Cost Push) Inflation & Unemployment
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will eventually be a decreasing marginal and then average total cost. That means that the MC falls due to difficulty to increase productivity when one unit is fixed. However if the marginal cost increase there will be average total cost wich will continue to fall until the point where the rise in average variable cost equates with the fall in average fixed cost. 2. Question 2 The Long Run Average Cost, LRAC, curve of a firm shows the lowest average total cost at which a firm can produce any level
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External and Internal Analysis of Foxconn Introduction Foxconn, or Hon Hai Precision Industry Co, was founded 37 years ago in Taiwan by Terry Gou. The company initially started as a local computer component manufacturer. Over the past decades, Foxconn had been continuously growing to become the world’s largest electronic components manufacturers with the consolidated revenue of 59.32 billion US dollars in 2010. As the largest electronic manufactures, Foxconn provides electronic components to
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Quantitative Methods for Business Page 51-57. Problems: 2 (a,b,c), 5 (a,b), 9,10,17 (a,b,c,d,e),21 (a,b,c),23 (a,b) Case Problem: pg 61, College Softball Recruiting 2. a. define experiment: choose a person at random, and have them taste the different blends of coffee and state a preference. b. ¼ per blend, classical method c. P1(.20), P2(.30), P3(.35), P4(.15)= Σ Pᵢ =1.00 5. a. Not valid, Σ Pᵢ must equal 1 and they do not. b. Increase the probability values to equal 1. 9.
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whereby long-run average total costs falls as the quantity of output increases 6. : total revenue minus total cost, including both explicit and implicit costs. Multiple Choice 1. The average total cost of producing 30,000 yards of fabric in a textile factory you manage is $7.60. Your crack team of economists have determined that the marginal cost of producing one more yard of fabric is $7.60. If you decide to expand production by a little bit: a. average cost will rise.
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Question 1. How does the theory of the firm provide an integrated framework for the analysis of managerial decision making across the functional areas of business? Discuss. Answer. Contribution of theories of the firm to the concept of the business model The advantage of the Chesbrough and Rosenbloom approach to the business model concept is that its functions or components provide a comprehensive structure by which to analyse different sources of value in firms. Compared for instance with Amit
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at Taylor High School, where he pitched a one-hitter as a freshman. He went to The Bolles School as a sophomore, where he was a two-way player. He chalked up a 6-3 record with 87 strikeouts and a 1.89 ERA as a pitcher while hitting a .391 batting average with seven home runs, earning First Team All-State honors. In 1989, he played football and baseball, winning First Team All-State honors in both sports and winning a state championship in baseball. He also notched the Tournament MVP honors and held
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Question 1 of 30 Score: 8 (of possible 8 points) Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was _________ and eight years later was _________. | A. | $2 million; $2 million | | B. | $50,000; $2 million | | C. | $50,000; $50,000 | | D. | $2
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