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Economics of Enterprise
Use specific examples, evaluate the difficulty of accurately eliciting people’s preferences for public goods
Economics of Enterprise
Your consulting firm was recently hired to improve the performance of Shin-Soenen Inc, which is highly profitable but has been experiencing cash shortages due to its high growth rate. As one part of your analysis, you want to determine the firm’s cash conversion cycle. Using the following information and a 365-day year, what is the firm’s present cash conversion cycle?
Economics of Enterprise
explain and show graphically how this market would be affected if there is an increase in the number of diary farmers that produce hormone-free milk and at the same time the country's consumers chose to be more healthy
Economics of Enterprise
In a country where everyone decided to be healthy, explain and show graphically how this might affect their markets
Economics of Enterprise
Explain and show graphycally how market would effected if there is an increase in the number of diary farmers that produce hormone-free milk and at the same time south african consumers chose to be more healty
Economics of Enterprise
The total utlity curve shows the relationship between _________ on the horizontal axis and ___________ on the vertical axis
Economics of Enterprise
Hormone free dairy milk has been found to be potentially more healthy. Consider the market for this product in south africa and answer the question?
explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone free milk and at the same time south african consumers chose to be more healthy
explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone free milk and at the same time south african consumers chose to be more healthy
Economics of Enterprise
If income elasticity demands for a hormone- free milk is estimate +5.0, briefly explain what this value means and what it implies about the nature of the of the product.
Economics of Enterprise
Explain and show graphically how this market would be affected if there is an increase in number of dairy farmers that produce hormone – free and at the time South African chose to be more healthy
Economics of Enterprise
From this week's 7.1 lecture, I learned that when average product (AP) reaches its maximum when it equals to marginal product (MP). MP is the slope of the Total Product (TP) vs. Labor (L) (assume we are considering short-run with capital fixed). AP is the linear slope of the line from origin to the current point of the total product curve.
From my understanding this is a strong conclusion. So I can formulate a differential equation problem to see when AP reaches maximum from the relationship of the independent variable L and the dependent variable TP:
At the maximum point of AP:
MP = AP
=> dTP/dL = TP/L
=> dTP/TP = dL/L
=> integrating both sides we can have: ln(TP) - ln(TP0) = ln(L) - ln(L0), where TP0 and L0 are the initial total product and labor. TP and L are their current values.
=> ln(TP) = ln(L) - ln(TP0/L0), TP0/L0 is the initial AP noted as AP0
=> TP = e-AP0 * L
=> TP/L = e-AP0, again AP = TP/L, which is the current AP - maximum AP
=> APmax = e-AP0
So if the total product curve is continuous and derivable, we can claim that the average product reaches its maximum when its value is the natural exponential to the power of the negative beginning AP level. Each business always require some labors to do the work, though startups might have less. So basically we can get this AP0 easily. Now here comes the question:
Does this mean that we are able to predict the maximum AP according to the beginning configuration in a short-run? (Assume capital is fixed)
From my understanding this is a strong conclusion. So I can formulate a differential equation problem to see when AP reaches maximum from the relationship of the independent variable L and the dependent variable TP:
At the maximum point of AP:
MP = AP
=> dTP/dL = TP/L
=> dTP/TP = dL/L
=> integrating both sides we can have: ln(TP) - ln(TP0) = ln(L) - ln(L0), where TP0 and L0 are the initial total product and labor. TP and L are their current values.
=> ln(TP) = ln(L) - ln(TP0/L0), TP0/L0 is the initial AP noted as AP0
=> TP = e-AP0 * L
=> TP/L = e-AP0, again AP = TP/L, which is the current AP - maximum AP
=> APmax = e-AP0
So if the total product curve is continuous and derivable, we can claim that the average product reaches its maximum when its value is the natural exponential to the power of the negative beginning AP level. Each business always require some labors to do the work, though startups might have less. So basically we can get this AP0 easily. Now here comes the question:
Does this mean that we are able to predict the maximum AP according to the beginning configuration in a short-run? (Assume capital is fixed)
