Economics ECO 204 2010 - 2011 Sayed Ajaz Hussain Lecture 1 Ajaz Hussain. Department of Economics. University of Toronto (St. George) 1 Today About ECO 204 (Single-Variable) Functions (Single-Variable) Calculus (Single-Variable) Unconstrained Optimization (Single-Variable) Concave and Convex Functions Ajaz Hussain. Department of Economics. University of Toronto (St. George) 2 Instructor: Office Room 212‚ Economics Department 150 St. George Street Office hours Thursdays 1 – 3 pm
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CONSULTING PROJECT Estimation and Analysis of Demand for Fast Food Meals You work for PriceWatermanCoopers as a market analyst. PWC has been hired by the owner of two Burger King restaurants located in a suburban Atlanta market area to study the demand for its basic hamburger meal package–referred to as “Combination 1" on its menus. The two restaurants face competition in the Atlanta suburb from five other hamburger restaurants (three MacDonald’s and two Wendy’s restaurants) and three other restaurants
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Sciences. In partial Fulfilment on ECONS 801 (MANAGERIAL ECONOMICS) Taught by Associate Prof. Didia P. O November‚ 2011 Introduction In order to maximize profits or shareholder wealth‚ managers must use the information that they have relating to demand and costs in order to determine strategy regarding price and output‚ and other variables. However‚ managers must also be aware of the type of market structure in which they operate‚ since this has important implications for strategy; this applies
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DEPARTMENT OF HUMAN RESOURCE MANAGEMENT ANDHRA UNIVERSITY II-Mid Semester Examination October‚ 2010 Industrial and Managerial Economics Time: ½ hour Marks : 15 Answer all Questions 1. Among the following factors‚ what are the factors that determine the optimum size of the firm A (i) Technical forces. B (ii) Managerial factor. C (iii) Financial factor. D (IV) Marketing factor. (v) Factor
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University of Toronto Department of Economics (STG) ECO 204 2011 - 2012 Sayed Ajaz Hussain Lecture 1 © Sayed Ajaz Hussain‚ Department of Economics‚ University of Toronto‚ STG 1 Today About ECO 204 Motivational Example HBS Case: The Prestige Telephone Company Types of Optimization Methods in ECO 204 Unconstrained Optimization Evaluating change in optimal solution due to a small increase in a parameter Feedback? economics204@gmail.com © Sayed Ajaz Hussain‚ Department of Economics
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to compute the firm’s value. c. the price for which the firm can be sold minus the present value of the expected future profits. d. both b and c 2 A price-taking firm can exert no control over price because a. the firm’s demand curve is downward sloping. b. of a lack of substitutes for the product. c. the firm’s individual production is insignificant relative to production in the industry. d. many other firms produce a product that is nearly identical
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impact of a stadium on a local economy is insignificant compared to the costs of the stadium. However‚ the literature has ignored the welfare gain generated by a stadium. The annual consumer surplus generated by a stadium is calculated from a simple demand curve for baseball games using 1972 to 1991 data on ticket prices and attendance. Estimates of the consumer surplus are in the range of $2.2 million to $54.1 million per season. Further‚ the annual net benefit of a stadium exclusive of any induced
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Time Series Analysis: The Multiplicative Decomposition Method Table of Contents Page Abstract………………………………………………………………………………………………………………………………………….3 Introduction………………………………………………………………………………………………………………………...…4-5 Methodology: Multiplicative Decomposition……………………………………………….…5-7 Advantages/Disadvantages of Multiplicative Method………………………………7-8 Conclusion…………………………………………………………………………………………………………………………………..8 Abstract One of the most essential pieces
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STRUCTURED HOMEWORK ASSIGNMENT 3 PART 1 Question 1 (A) First‚ invert the demand function QD= 8‚300 - 2.1P into the price function‚ so that price is on the left hand side on its own. QD= 8‚300 - 2.1P → 1QD/2.1 = 8‚300/2.1 – 2.1P/2.1 0.5QD = 3‚952.4 – P → P = 3‚952.40 – 0.5QD TR = P*Q → TR = (3‚952.40 – 0.5Q) *Q → TR = 3‚952.40Q – 0.5Q^2 MR = 3‚952.40 – Q (B) Profit = TR – TC Profit = 3‚952.40Q – 0.5Q^2 – (2‚200 + 480Q + 20Q^2) Profit = -2‚200 + 3‚472.40Q – 20.5Q^2 Marginal Profit = 3‚472
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Indian customers visiting Shoppers’ Stop any different from customers developed western counties? 4) How should Shoppers’ Stop develop its demand forecasts? Caselet -2 5) Considering the concept of product life cycle‚ where would you put video games in their life cycles? 6) Should video games companies continue to alter their products to include other functions‚ such a e-mail? B-105 (Organizational Behavior) Caselet -1 1) How would you examine if there is any merit in the remarks of various functional
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