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Economic Total Cost - 1057 Words

Review Question #3 Principles of Microeconomics Spring 2010 1. Your cousin Vinnie owns a painting company with fixed costs of $200 and the schedule for variable costs as below. What is the efficient scale of the painting company? Quantity of Houses Painted per Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Variable Costs | $10 | $20 | $40 | $80 | $160 | $320 | $640 | 2. Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. If your aunt thought she could sell $510,000 worth of merchandise in a year, should she open the store? 3. What you give up for taking†¦show more content†¦If you were Johnn’s agent, what recording fee would you advise Johnny to demand from the record company? 18. Explain why a monopolist will never produce a quantity at which the demand curve is inelastic. 19. You live in a town with 300 adults and 200 children, and you are thinking about putting on a play to entertain your neighbors and make some money. A play has a fixed cost of $2,000, but selling an extra ticket has zero marginal cost. Here are the demand schedules for your two types of customer: Price | $10 | 9 | 8 | 7 | 6 | 5 | 4 | 3 | 2 | 1 | 0 | Adults | 0 | 100 | 200 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | Children | 0 | 0 | 0 | 0 | 0 | 100 | 200 | 200 | 200 | 200 | 200 | To maximize profit, what price would you charge for an adult ticket and for a child’s ticket? What if price discrimination is not allowed? Calculate the lost incurred by the policy of not allowing price discrimination. 20. A ______ firm faces downward-sloping demand curve. Fill out the blank and explain the statement. 21. A ______ firm has marginal revenue less than price. Fill out the blank and explain the statement. 22. A ______ firm faces the entry of new firms selling similar products. Fill out the blank and explain the statement. 23. A ______ firm earns economic profit in the long run. Fill out the blank and explain the statement. 24. A ______ firm equates marginal revenue and marginal cost. Fill out the blankShow MoreRelatedBusiness Proposal1255 Words   |  6 PagesIn this present economic state maintaining competitiveness can be challenging along with the vital importance of increasing business profits in order to maintain healthy businesses. This proposal will discuss Will Bury and his privately developed technology that allows him to transform a piece of writing into a digital format for audio and or reading. This proposal will also discuss basic recommendations on how Mr. Will Bury may increase his revenues, adjust variable and fixed cost in efforts to maximizeRead MoreEssay about Marginal Cost and Correct Answer1404 Words   |  6 PagesQuestion 1 5 out of 5 points Economic profit is defined as the difference between revenue and ____. Answer Selected Answer: total economic cost Correct Answer: total economic cost Question 2 5 out of 5 points Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of anRead Moremr jorge1265 Words   |  6 Pagesï » ¿Question 1 0 out of 1 points    Root beer    Candy bars Quantity Total Marginal Quantity Total Marginal    utility utility    utility utility 0 0 0 0 0 0 1 60 60 1 80 80 2 110 50 2 150 70 3 150 40 3 200 50 4 180 30 4 230 30 5 200 20 5 240 10 Reference: Ref 6-8 (Table) In the table, the total utility from consuming three root beers and two candy bars is: Selected Answer: 310 utils. Correct Answer: 300 utils. QuestionRead MoreLearning Act 2-81271 Words   |  6 Pagesestimates that the annual rent for an office would cost him $20,000; a secretary would cost $24,000 per year. If he would rent office equipment, he would have to pay $11,000 per year. The purchase of required supplies, payment of electricity bills, water and telephone bills, would cost approximately $5,000 a year. Anthony estimates that the revenues that he would generate with consulting services would be $120,000 a year. a. Explicit cost = Accounting cost Rent $20,000 Sal. Secretary 24,000 OffRead MoreEco 561 Business Proposal V21575 Words   |  7 PagesMcKinley Introduction Within any industry the fiscal or economic goals are to increase revenue; determine the fixed and variable costs for the business; and determine how to maximize profit. In order to reach those goals an organization needs to establish the pricing structure, product differentiation, and how to minimize the costs for the product. In this proposal will layout the strategies to reach those goals in order to make a more economic successful organization. Company Background A sound predictionRead MorePoints1714 Words   |  7 PagesQuestion 1 (5 points) 1. Which of the following may lead to vertical integration? a) Technological interdependencies b) Reduced search and bargaining cost c) The hold-up problem d) All of the above Question 2 (5 points) Effective collusion generally is more difficult when a) the number of oligopolistic firms involved decreases b) the number of oligopolistic firms involved increases c) when customer orders are small, frequent, and received on a regular basis as comparedRead MoreEconomics : Economics Of Business1361 Words   |  6 PagesAccounting Economics FINAL REPORT: The Economics of Business DUE DATE: 20 May 2015 Catherine Macintosh 11006620 For the attention of Sarah Sutherland Word count: 1,243 (Excluding Acknowledgements, Abstract/Executive Summary, Terms of Reference, References Appendices TABLE OF CONTENTS Page 1.0 Costs 3 1.1 Total costs 3 1.2 Average costs Read MoreDemand Curve886 Words   |  4 PagesTELECOMMUNICATIONS COST OF PRODUCTION IORDAN ELVIS CRISTIAN 2nd YEAR, GROUP 1.1 TIMISOARA, 2013 INTRODUCTION Cost is a sacrifice of resources to obtain a benefit or any other resource. For example in production of a car, we sacrifice material, electricity, the value of machine s life (depreciation), and labor wages etc. Thus these are our costs. Costs are usually classified as follows: * Product cost(cost of production) * Period cost In this paper, we will analyze the cost of productionRead MoreWill Bury Business Proposal771 Words   |  4 Pagesfixed and variable costs, 3) and apply economic cost concepts in making business decisions. The group discussed these objectives and came to the following conclusions. Identifying Production Level to Maximize Profits Profit maximization is a company’s process they undergo to determine the price levels and the best output in order for them to maximize their return. Usually the company will adjust factors that are influential such as sales prices, output levels, and production costs to reach its goalRead MoreEconomic Analysis Essay851 Words   |  4 PagesRashid MBA 6008 – Global Economic Environment September 14, 2014 Unit 3 Assignment 1 Chapter 9 - Problem 3, pg. 219 Q: You are a newspaper publisher. You are in the middle of a one- year rental contract for your factory that requires you to pay $ 500,000 per month, and you have contractual labor obligations of $ 1 million per month that you can’t get out of. You also have a marginal printing cost of $ 0.35 per paper as well as a marginal delivery cost of $ 0.10 per paper.

Contemporary Issues in Business Communicatio †Free Samples

Question: Discus about the Contemporary Issues in Business Communication. Answer: Business Communication can be defined as the information exchange within or outside the organization done for the benefit of the organization. The benefit can be commercial or non-commercial in nature. The communication within the organization for discussing about the works and deliverables is also known as business communication. It is very much essential for any organizations to have an environment where effective business communication can happen. The success of the organization greatly depends on the same (Bargiela-Chiappini, 2014). The managers and the leaders of the organization should try and develop a culture where everybody learns to present themselves and discuss on all the ongoing matters by giving their valuable opinions. This will help the managers to get lot of options for any problem and from those, one can be chosen for the resolution of the problem. However, there are many issues which can hinder the effective and professional business communication in any organizati on. We will discuss the same in the below paragraphs. Before the issues, let us first consider the fundamental benefits that an organization will receive from professional business communication (Chaney, 2013). Fundamental Benefits of Professional Business Communication for a modern business There are lots of benefits for a modern-day business if they practice professional business communication in their daily operations. The main benefit will be the timely and effective flow of information to the concerned person. Let us take example of Amazon. Amazon is into e-commerce business with its business spread around all parts of the world. They provide a platform for sellers to sell their products online. They themselves have some warehouses and deliver the products to the customers. The presence of proper communication flow within various warehouses and operational offices at Amazon is highly essential for their timely fulfillment of orders to the customers. The customers will be satisfied to get on time delivery of the products offered by them. This can happen only with the presence of effective professional business communication within Amazon. As soon as the order is received by the company, the seller is notified. The seller notifies Amazon and customer as soon as it shi ps the product and then the customer can track their order till the time it gets delivered to their address. This is a great example of the flow of professional business communication. Apart from the timely flow of information, there are many more benefits of professional business communication (Cornelissen, 2014). The business process can get good feedbacks and opinions on the problems because of effective business communication. The business communication will yield lots of positive results for the organization once it takes good shape within the organization. The communication outside the organization should always be professional in nature so that the deals will happen smoothly with the third parties. The people within the organization can concentrate more on the effective communication of information to their peers and managers so that the issues can be resolved as soon as possible. The manager should communicate the tasks and expectations in the best possible way to the sub ordinates so that they can work on those without any hiccups. The flow or the exchange of information is the one thing that keeps a company alive and purely functional. The clients of the company can be bind for long term relationship with good and effective professional communication with them (Crane, 2016). This is highly essential as it will impact the commercial aspect of the company. Also, it will lead to many more processes within the company. The KPIs will be impacted and the deliverables and revenues will take a hit if any of the client leaves the company for non-professional business communication. In the following paragraphs, we will discuss the contemporary issues in professional business communication and the challenges faced by the organizations because of the same. Contemporary Issues in Professional Business Communication and Challenges Faced by Organizations There are several challenges and issues that companies face due to ineffective and professional business communication. The business can face lot of financial problems when exposed with non-efficacy in business communication (DesJardins, 2014). There are many contemporary issues in professional business communication. Some of the major issues in this are Ethnicity issues in communication, Gender issues in communication, Communicating with People with Disabilities etc. These issues can bring the organizations down in the industry. We will discuss about these issues in the below paragraphs. The people within the organization will always try to perform effective business communication. However, there might come some lag in which the companies will face issues from within. The people in the world are of different racial and ethnic backgrounds. This happens in every country. There are various languages in which people speak with each other. In any organization, as well, there are people from various backgrounds. They work together (Grunig, 2013). However, the language issue might come up sometime and this can lead to dissatisfaction in employees and will harm the company. In Amazon, there are certain warehouses located at remote areas. These locations have workforce who generally know the regional language. The regional language of the country is spoken by all but a few of the employees will suffer due to the same. This will develop ineffective business communication in the company. The company will have lots of issues like this and they must face it and resolve it soon. The modern businesses hire people from all races. This is an opportunity for them with different minds working together (Zikmund, 2013). Also, this is a challenge for them when these mi nds do not get synched with one another. These creates lots of operational and financial issues for the business. The gender issue has now become one of the major differentiating factor in most of the companies. These companies are focusing on streamlining all the gender related issues so that the financials do not have an impact because of the issues. The main problem behind implementation of strategies for reducing the gap in the field of gender is the thinking of people. The people need to think about the ways in which the gender differences will not become a problem for the companies. Companies can suggest ways to closer the gap and employee ratio between boys and girls. The gender discrimination is highly illegal and nobody should practice such an act (Fleischmann, 2014). The people of the company will have no say in this issue. It should not exist at the first place. The business communication gets affected a lot because of this issue. Employees go into a mode in which they will not talk with each other. This will impact the revenues of the company. The communication with differently abled people does not create any issues in normal scenarios. However, during any conversation, if the topic comes up then it takes a wrong turn and lot of bad thing can happen. In any organization, differently abled people should be given extra care. In Amazon, such people are provided with extra facilities which can help them to complete their work despite their disabilities. The culture of the organization should be such that it can be set as an example. The people have lot of expectations, however not all expectations come true. Same is the case for the organizations management. The management tries to focus on bringing synergy between everyone so that the business communication is not impacted. The business will suffer due to any miscommunication between the employees. The modern businesses cannot survive such hindrances where the businesses suffer losses due to non-professional business communication activities. There are many other issues and challenges in front of the companies which they face day to day to achieve professional business communication. These needs to be well thought of by the organizations so that they can reach to a point of sustainability in the business. The sustainability is one of the primary goal of modern business. In the above sections, we discussed about the managers and the leaders of the organization and their role to try and develop a culture where everybody learns to present themselves and discuss on all the ongoing matters by giving their valuable opinions (Crane, 2016). This will help the managers to get lot of options for any problem and from those, one can be chosen for the resolution of the problem. However, there are many issues which can hinder the effective and professional business communication in any organization. We discussed the same in the above paragraphs. We also noticed that there are several contemporary issues in business communication. Howev er, there are fundamental opportunities as well. References Bargiela-Chiappini, F. and Nickerson, C.R., 2014. Writing business: Genres, media and discourses. Routledge. Chaney, L. and Martin, J., 2013. Intercultural business communication. Pearson Higher Ed. Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press. Cornelissen, J., 2014. Corporate communication: A guide to theory and practice. Sage. DesJardins, J.R. and McCall, J.J., 2014. Contemporary issues in business ethics. Cengage Learning. Fleischmann, A., Schmidt, W., Stary, C., Obermeier, S. and Brger, E., 2014. Subject-oriented business process management. Springer Publishing Company, Incorporated. Grunig, J.E., 2013. Excellence in public relations and communication management. Routledge. Shaw, W.H. and Barry, V., 2015. Moral issues in business. Cengage Learning. Zikmund, W.G., Babin, B.J., Carr, J.C. and Griffin, M., 2013. Business research methods. Cengage Learning.

WordPerfect Essays - User Interface Techniques, Double-click

WordPerfect Using Tables in WordPerfect As most of you know, WordPerfect 6.0A for Windows allows you to do simple word processing pretty easily. My intention in this session is to look at tables fairly comprehensively so that you can see how to use this feature a little more fully. In addition, we'll use data from other applications , including text data and a Harvard Presentation graphics chart in WordPerfect. Seeing how tables are used within WordPerfect templates As you may already be aware, WordPerfect comes with a number of premade templates. We're going to look at one that uses a table within it, the calendar, so you can see how the feature can be used. Click on file Click on template Slide the up arrow up to cal_side Click on the words: Note description Click on the opposite facing up/down arrows for month and select July for month Click on the opposite facing up/down arrows for year and select 1995 for year The calendar will then auto fill in the appropriate days and dates and then poof! disappear. Click on Window (at the top table, window, help) This will bring up a list of documents. Note: You can have a number of documents open concurrently. This is practically limited by the amount of memory and speed of your machine as it relates to the complexity of documents. On my fairly sophisticated machine I've found six text mostly documents are about as much as I can handle the performance of. Click on the last numbered document (most likely document 2) This is a fairly complex table. If you need to make changes in it, you can do so with the table menu. To make a fairly simple change in the calendar, Click on any of the squares Click on table Click on Lines/Fill Click on the table radio button Click on Fill Radio Button Click on drop down box Click on the words 10% fill Click OK You'll see the changes reflected. Bringing your own data into a table Most of the time you'll have your own data that you want to bring in, either in the format of a spreadsheet or a ASCII file. A table handles this kind of data especially well. To bring in a text file (ASCII delimited in this case) and translate it to a table Click on File Click on Open Open File... Automatically it will detect it's an ASCII text file Select entire area of file Click on table create Choose tabular format Choose OK This will convert your text to a table with strange formatting. There are two ways to change this formatting. If you just want something that looks normal, you can click and drag the column lines easily. We'll do this with the day column Bring your mouse to the line between the two columns... You'll see a crosshatch arrow Click and drag out Your column will be resized automatically. Note, though, there is a limited width to the page, so you can not size columns larger than they can print. More frequently, you'll want an exact column width. In this case, we'll do this with the number columns. To do this: Select the columns you want to set the width for by clicking and dragging over them Click on Table Click on Format Select the column radio button Check the check box for fixed width (lower right hand corner) Select in the lower left hand corner the button for column width Select .600 in the box Your columns will be the exact same size now. They will not be aligned completely correctly though. If you want a simple right or left justification: Select the cells (the numbered cells) you want to justify within the table Click on the justification icon 8 over from the left Choose Right justification This will align your cells automatically to the right. More frequently with decimal numbers you'll want a decimal align, that is for the numbers to line up along the decimal point. Select the text you want decimal aligned Click on the justification icon Choose decimal align You can do any formatting within a table that you can do with normal text. We'll bold, italicize and underline some of our fine text. Double click on the word Monday. This