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List as many cost concepts as you recall and explain each one and the purpose and justification for it.
Mark the three stages of production in the previous table based on the elasticity values.
Total revenue (TR) and total cost (TC). Marginal revenue (MR) and marginal cost (MC). Show the maximum profit and the optimal production.
What is the production function? List and explain its various types. Also, explain its significance in the managerial decision making context.
Explain the concepts of short run and long run in production. What is the significance of this type of term variability in production?
Explain the rate of returns required by each method of financing. What are implications of multiple ways of financing for firm each with its own rate of return?
Explain the purpose and basic principle of capital budgeting and how it works to serve the business?
Explain the pricing strategy for firms producing joint products and give examples of both the case of fixed proportions and the case of variable proportions.
What is the major strategy for firms on multiproduct pricing? How would a firm producing many products ensure its ultimate goal of maximizing profits?
What would be the market price for the product and the equilibrium output for the industry? Calculate the marginal cost for each firm in the industry.
A competitive firm sells its product for $50.00. If it has the following cost function, what would be its equilibrium output and how much profit can it make?
What is the Hefindahl index? What is it meant for and how significant is it to understand the business market?
Explain the circumstances under which a competitive firm would rather shut down. Support your explanation with a graph.
Explain why equilibrium of supply and demand is desirable. Explain the following concepts using the concept of consumer and producer surplus.
Can you change prices in such a way that the entire demand response is due to income effect?
Find the probability of a good macroeconomy given that the forecast is for a good macroeconomy and the probability of a bad macroeconomy given/
Discuss how information can be measured as bits. Give an interpretation of the expected value of perfect information.
Compare the diversifiable and nondiversifiable risks. How would each of them be measured? What is portfolio risk, CAPM, and market beta?
How do people generally deal with risk? What are the types of attitudes toward risk? What attitude do business managers usually exhibit toward business risk?
What is risk and what is uncertainty? How would each and both affect the managerial decision making and what are the sources of risk?
A 20-year corporate bond of $2000 is issued at 8 ½% coupon rate and is sold at 2 ¾% discount with a flotation cost of 1 ¾%. What would be the cost of capital?
how you think their behavior would differ in this worst-case scenario of complete selfishness, relative to that of the average person in their position today.
What potential problem with conventional arbitration is resolved by final offer arbitration?