Assignment 1 Economics for Management – GSB728 Due on: 07/06/2010 University of New England Victor M. Ayala Lancheros Student # 220070594 Word Count: 1,152 Economics for Management – GSB728 PART 1 Question # 1 Demand for Bus Services: D1 = 3,500 – 350P1 + 25P2 + 2Y Supply for Bus Services: S1 = 100P1 The market equilibrium point is obtained where S1 = D1 therefore, 100P1 = 3,500 – 350P1 + 25P2 + 2Y Substituting for Price of Taxi trips (P2 = $1,000) and Income (Y=$50,000), then: 450P1 = 3,500
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Company XYZ produces bottled water. Internal consultants estimate the company’s production function to be Q = 300L2K, where Q is the number of bottles of water produced each week, L is the hours of labor per week, and K is the number of machine hours per week. Each machine can operate 100 hours a week. Labor costs $20/hour, and each machine costs $1000 per week. Suppose the firm has 20 machines and is producing its current output using an optimal K/L ratio. How many people does the firm employ?
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internationalized operations and 65% of collective revenues were expected to come from outside India 1. Tata Consultancy ServicesWhy TCS, the group’s tech and consulting giant underwent its evolution at a much faster rate than the other Tata companies, in a sense became more global. And they perceived more growth in the foreign market and had to expand globally, TCS accounted for $27.8 billion of Tata’s $59.5 billion market capitalization as of August 2007 2. TitanExpanded globally but suffered high
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1 τ τ – HDB3 HDB 0.5 0 3 ) fS ________________________________________________________________________________________ -1- τ = 0.5 TS Ps (f ) = 2f s p(1 − p) | G(f ) |2 +f s | PG (o) |2 δ (f ) 2 + 2f s2 ∑ | PG ( mf s ) |2δ (f − mf s ) m =1 ∞ fS = G(f) 1 TS P 1 τ = 0.5 TS πf 1 sa ( ) G (f ) = 2fs 2f S 1 π 1 2 = 1 sa ( ) = ⋅ 2f S 2 2f S π / 2 π f S 2p 2 sin π Θ G (f S ) = S) = ∴ P (f S π2 δ (f − f S ) 0.5 0.5 0 AMI HDB fS 0 1 0 3 0
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an industry with a dominant firm and 100 firms that make up the competitive fringe. The 100 firms have identical cost curves. The industry demand curve is given by P = 1000 - .005Q. The total cost curve of each of the competitive fringe firms is TC = 600q + q2. 1. Find residual demand curve - dom firm. 2. MC of each comp fringe = 600+2q, firms produce so P=600=2q, 100 identical firms so q=.01Q substitute so P=600+2(.01Q) 3. Subtract CF supply from market demand to get res demand curve
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EGT1 – TASK GUIDE INTRODUCTION: As you work on each of the Tasks please make use of the various resources posted and updated within the Business Undergraduate Economics Learning Community Task 1 Recorded Webinar TASK 1: MARGINAL ANALYSIS This Task centers on the competency of marginal analysis with two structured objectives. First is the requirement to describe the relationship between marginal revenue (MR) and marginal cost (MC) at the point of profit maximization. Second is the requirement
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MOS 3330: Solutions for Lecture Note Numerical Examples Version: Fall 2012 INVENTORY MANAGEMENT 1a) TC = CO((# orders) + CH((avg. inventory) = 500(12 + 0.4((36000/12)(1/2) = 6000 + 600 = $6600 1b) TC = 500((36000/6000) + 0.4((6000/2) = 3000 + 1200 = $4200 1c) Q* = [2DCO/CH]½ = [2(36000)(500)/0.4]½ = 9486.83 TC = CO(D/Q) + CH(Q/2) = 500((36000/9486.83) + 0.4((9486.83/2) = 1897.37 + 1897.37 = $3794.74 2) Order Size Discount
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TEORI BIAYA Teori biaya atau cost memegang peranan yang cukup penting didalam kita menganalisa perilaku produsen karena kita tahu bahwa produsen yang rasional pada umumnya akan berproduksi pada biaya yang minimal .Sebelum kita membahas teori ongkos sebaiknya kita mengerti dulu konsep-konsep yang ada kaitannya denga pembahasannya nanti. Paling tidak ada tiga konsep penting tentang ongkos yang dapat dibedakan yaitu : 1. Ongkos alternative ( oppurtunity cost ) 2. Ongkos akuntansi ( accounting
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results 2.1 Case Study Storage Solutions is a small manufacturing company producing a variety of storage cabinets. It's most popular CD cabinet is shown in figure 1. The CD cabinet comes in two sizes, a Standard Cabinet (SC) and a Tall Cabinet (TC). Figure 1 CD Cabinet 2.1.1 Material Dimensions Standard Bottom 0.3m strip metal * 0.2m long Top 0.3m strip metal * 0.2m long Side 0.3m strip metal * 0.5m long Tall Bottom 0.3m strip metal *
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CHAPTER 7 THE COST OF PRODUCTION QUESTIONS FOR REVIEW 1. A firm pays its accountant an annual retainer of $10,000. Is this an economic cost? Explicit costs are actual outlays. They include all costs that involve a monetary transaction. An implicit cost is an economic cost that does not necessarily involve a monetary transaction, but still involves the use of resources. When a firm pays an annual retainer of $10,000, there is a monetary transaction. The accountant trades his
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