Managerial economics theory and practice phần 3 pps

... ----66 662 3 66 4444 22222 10 6486622122666622 3 13 23 13 13 13 13 3 13 13 13 13 ,Using Elasticities in Managerial Decision Making 181dQdP P P22222 3 2 3 2 500 1 0000=()=>,dQdPP22225000=- ... 482$$$$eeppPP=()=-ÊËˆ¯=-=-=()=-ÊËˆ¯=-=-$.$. 43 4 13 12 13 0 9 23 33 3169160 5 63 ep=ÊËˆ¯ÊËˆ¯dQdPPQEp=-()+()-()+()=()-()=ÊËˆ¯-ÊËˆ¯=-16 13 13 16 34 43 32917 3 29710 724.QQ1225 3 4 25 ... tothe system of Equations (3A .3) may be written as(3A.4a)(3A.4b)(3A.4c)Note that the parameters in Equations (3A.4) are prices and moneyincome. Equations (3A.4a) and (3A.4b) indicate the consumption...

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Managerial economics theory and practice phần 4 ppsx

... (6.17),b. The ﬁrst unit will require $5,000/$15 = 33 3 .33 labor hours.When 120 unitsare produced, the per-unit labor requirement is $1, 037 /$15 = 69. 13 laborhours.LONG-RUN COSTIn the long run all ... 4,900.008 7,290.00 5,120.00 3, 430 .0016 6,561.00 4,096.00 2,401.00 32 5,904.90 3, 276.80 1,680.7064 5 ,31 4.41 2,621.44 1,176.49128 4,782.97 2,097.15 8 23. 54256 4 ,34 0.67 1,677.72 576.48tively. ... McGraw-Hill,1980.Henderson, J. M., and R. E. Quandt. Microeconomic Theory: A Mathematical Approach, 3rded. New York: McGraw-Hill, 1980.Maxwell, W. D. Production Theory and Cost Curves. Applied Economics, 1, August...

Managerial economics theory and practice phần 1 ppt

... IntroductionContents1IntroductionWhat is Economics 1Opportunity Cost 3 Macroeconomics Versus Microeconomics 3 What is Managerial Economics 4Theories and Models 5Descriptive Versus Prescriptive Managerial Economics 8Quantitive ... 44 2 10 2 236 3 112 1 149 79 95205 03 02 .Q =()()()=()()()=10 3 5 50 2 10 1 871 3 233 1 14969 50205 03 02. . million gallonsQKLM= 1005 03 02 .The Role of Proﬁt 17 3 This is ... protection, and govern-mental regulation. Microeconomics is the study of the behavior of individ-Chapter Review 33 Managerial Economics Theory and Practice managers who fail to maximize earnings and...

Managerial economics theory and practice phần 2 doc

... aaabbbPDDD,, ,1 231 231 23 ++=++()+++()QabPD ,3 3 3 =+QabPD,2 2 2=+QabPD,1 1 1=+the market demand curve 1 03 PPPPQ1Ј QMarket demandQ2Ј Q 3 Ј QЈPЈFIGURE 3. 2 The market demand curve is ... demand curve.Summing together Equations (3. 2) we get (3. 3)or (3. 4)where a = a1+ a2+ a 3 and b = b1+ b2+ b 3 . In general, for the n-consumercase (3. 5)where QD, Mis market demand. ... include corned beef and cabbage, tea and lemon,coffee and cream, peanut butter and jelly, tennis rackets and tennis balls,ski boots and skis, and kites and kite string.If goods X and Y are complements,...

Managerial economics theory and practice phần 5 pptx

... 5002QPA=-ÊËˆ¯+ÊËˆ¯20 3 1 3 10 3 TR =-()([]=-()=()=20 3 2 2 20 6 2 14 2 28$TR Q Q=-()=-()[]=-()=20 3 20 3 3 33 3 3 333 20 10 3 333 33 33 3 .$.Constrained Optimization: ... proﬁt maximization.dTRdQQQQ=- ===20 6 0620 3 333 *.TR PQ Q Q== -20 3 2P =-()=-=20 3 2 20 6 14ARTRQQQQQP==-=- =20 3 20 3 2p=()-()=-=20 2 5 2 40 20 202ddQ2210 0p=- ... Structure: Perfect Competition and Monopolyb. Q = 10(14.29)0.6(6 .35 )0.4= 1 03. 31500 5 7 5 4 9500 35 14 294 9 14 29 6 35 =+()===()( )=LLLLK.*.* Appendix 7A 31 1Subtracting the supply...

Managerial economics theory and practice phần 6 pptx

... +()=200 232 67 32 67 6 932 pp1222196 32 67 2 32 67 2 32 67 32 67 2 134 196 32 67 2 32 67 2 32 67 32 67 2 134 *. . $,*. . $,=()-()-()()==()-()-()()=QQ1265 34 **.==QQ12 32 67**.==QQQQ122149 ... QB11/2Q*01/2Q*21/2Q*1/4Q* 3 /4Q* 3 3/8Q*1/4Q*5/8Q*4 3 /8Q*5/16Q*11/16Q*511/ 32 Q*5/16Q*21/ 32 Q*ӇӇӇӇi1/ 3 Q*1/ 3 Q*2/ 3 Q*ABCDEIHGFQ2Q11/ 3 Q*1/ 3 Q*0R1R21/2Q*1/2Q*FIGURE ... Monopolistically Competitive Equilibrium 36 9BC20$05QMCATCQ =35 /3 P /3 MR 35 FIGURE 9.5 Diagrammaticsolution to problem 9.1 part e.industry is Q = 35 /3 - P /3. Assuming no change in the ﬁrm’s...

Managerial economics theory and practice phần 7 docx

... W. J., and J. I. Yellen. “Commodity Bundling and the Burden of Monopoly.” QuarterlyJournal of Economics, 90 (August 1976), pp. 475–498.Baye, M. R., and R. O. Beil. Managerial Economics and Business ... other, that is,(11 .39 )where the constant k > 0. Solving Equation (11 .33 ) for P1 and P2yields(11.40a)(11.40b)Substituting Equation (11 .39 ) into Equations (11. 13) and (11.40b) yields(11.41)(11.42)Substituting ... the demand functions for two goods produced jointly aregiven as Equations (11 .33 ). The total cost equation is given as Equation(11. 13) .(11. 13) The analysis differs, however, in that Q1 and Q2are...

Managerial economics theory and practice phần 8 doc

... Projects 531 TABLE 12. 13 Net Present Value Proﬁlefor Project Ak NPV0.00 -$1,000.000.25 -40.000.27 0.000.50 33 3 .33 1.00 500.001.50 440.002.00 33 3 .33 2.50 224.49 3. 00 125.00 3. 50 37 .04 3. 76 ... 519+Ϫ1 234 5 tYTM = 0.08678910 11 12$100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100$1,000$100$92. 539 85. 733 79 .38 3 73. 5 03 68.058 63. 01758 .34 954.02750.02546 .31 942.888 39 .711 39 7.114$1,150.720 ... 2, 3, 4, 5, 6 $850 $695 $191.44 $886.44B 1, 3, 4, 5, 6 950 795 63. 81 858.81C 1, 2, 5, 6 900 665 127. 63 792. 63 D 1, 2, 3, 5 1,000 675 0.00 675.00E 1, 2, 3, 6 1,000 670 0.00 670.00F 1, 2, 3...

Managerial economics theory and practice phần 9 potx

... $95. 83 $45. 83 $4.17ӇӇ Ӈ Ӈ Ӈ5 Buyer4 Seller $84.91 $34 .91 $15.09 3 Buyer $ 83. 16 $33 .16 $16.842 Seller $84.84 $34 .84 $15.161 Buyer $ 83. 10 $33 .10 $16.90worker performance or they can trust employees ... Adam should accept. Adam’s and Andrew’s gainsfrom trade are $26 .33 and $ 23. 67, respectively. The reader might suspectthat if this process is continued, eventually Andrew and Adam will evenlydivide ... Evi-()[]{}=ÊËˆ¯-()[]==ÊËˆ¯-()[]+-()[]++-()[]{=ÊËˆ¯-()+-()+-()+-=ÆÂ212221222622221116 135 235 33 5 4s 33 5 535 635 1625 15 05 05 15 2516625 225 025 025 225 62516222222222. ()[+-()+-()]=ÊËˆ¯-()+-()+-()+()+-()+-()[]=ÊËˆ¯+++++[]=ÊÊËˆ¯()=17...

Managerial economics theory and practice phần 10 pot

... FHE12 33 8 50 250 39 6 30 7 50 3 916 125 $,.Area GHE =-()-()=()()=12 32 0 8 250 39 6 30 7 501270 8 88 5 3 132 90 $,.Area FGE =-()-()=12 33 8 50 32 0 80 39 6 30 7 50 7 83 225 .$.Q = 30 7 ... performance and has determined that thestandard deviation of returns is $3. 50 per share. Mat’s investment utilityequation iswhere kp and spare the portfolio’s expected return and standard deviation,respectively. ... $6,000 0.15$8,000 0 .30 $8,000 0 .35 $11,000 0 .30 $10,000 0 .35 $14,000 0.20 $12,000 0.15INSURANCE PREMIUMSThe state preferences model just presented can be used to analyze thedemand for insurance....

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