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Explain the difference between economics and capitalism

Explain the difference between:

Economics and Capitalism

Government and Democracy

Economics and Socialism

Government and Totalitarianism.

e difference between fixed costs in the short-run and fixed costs in the long-run

Explain why the rental rate of capital reflects the opportunity cost regardless of whether the firm rents its capital or owns it.

1. What is the difference between fixed costs in the short-run and fixed costs in the long-run?
2. If the cost function for a firm is C = 25q2 + 15q
   1. Calculate the average cost.
   2. Calculate the marginal cost.
   3. Does this cost function exhibit any fixed costs?
3. Why does the marginal cost curve intersect the average total cost curve at the minimum of average total cost?
4. Ifw=10andr=2

a. Draw the isocost line for C = 100.

b. Draw the isocost line for C = 100 if the wage is now w=5.

1. A firm’s production function is q = K1/2L1/2, the wage is w = 25 and the rental rate of capital is r = 16. Find the optimal amount of K and L if the firm produces 20 units of output.
2. A firm’s production function is q = KL, the wage is w = 25 and the rental rate of capital is r = 9. Find the optimal amount of K and L if the firm produces 100 units of output.

Difference between non-cooperative and coordination games

Write a One Page write up with single space about the difference between Non-Cooperative and Coordination Games. What is the benefit of coordination between players.Stick to the outcome, not to the definition.

Compute a schedule of operating cash flows

BioCom, Inc. is weighing a proposal to manufacture and market a fiber-optic device that will continuously monitor blood pressure during cardiovascular surgery and other medical procedures in which precise, real-time measurements are critical. The device will continuously transmit information to a computer via a thin fiber-optic cable and display measurements on several large monitors in view of operating room personnel. It will also store the data and display it graphically for review during or after procedures. BioCom will market various versions of the device, but manufacture all of them in the same facility using the same equipment. The versions will have similar markups and cost structures. If management decides to bring this device to market, BioCom will stop selling an earlier, less sophisticated version of the monitor. The product that BioCom will discontinue now contributes about $1,650,000 per year to operating cash flow, and projected sales are flat. BioCom focuses exclusively on cutting-edge applications, so it expects to discontinue the new monitor after five years. At that time, it will sell the technology and used manufacturing equipment to a foreign company for an estimated $2,400,000.

Cost analysts have collected the following figures and submitted them to the treasurer’s office for additional study and a final decision on whether to proceed. You, as assistant to the treasurer, must compute and evaluate the basic capital budgeting criteria. The project will initially increase working capital by $480,000, which the company will recover at the end of the project when it sells remaining inventory and collects accounts receivable. The analysts are not quite sure if they should include $450,000 that the company already spent on research and development for the new product. They also disagree about whether the effect of the discontinued monitor on the company’s overall operating cash flows is relevant to the decision on the new product line, so you must decide how to deal with these two items.

Cost of new plant and equipment   $24,000,000

Designs and prototypes $ 450,000

Estimated salvage value of technology and equipment, end of year 5 $ 2,400,000

First-year sales forecast $16,500,000

Projected annual rate of sales increases    6%

Cost of goods sold      40% of sales

Selling, general, and administrative expenses   5% of sales

Annual fixed cost                                                $600,000

Operating cash flow from current desk sales           $1,650,000

Economic life of the project             5 years

Initial change in net working capital           $480,000

Depreciation        5-year MACRS

Tax rate                               34%

Discount rate = cost of capital    9%

QUESTION: Compute a schedule of operating cash flows for BioCom’s new product.

The concept of value-based management

Explain Economics and Entrepreneurship in Social Change
Explain how economics and entrepreneurship may be effectively and creatively employed as tools of social change in the service of a topic or cause that is important to you.

Prepare a manufacturing overhead budget report for january

Speier Company estimates that 240,000 direct labor hours will be worked during the coming year, 2014, in the Assembly Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.

Variable Overhead Costs

Fixed Overhead Costs

Indirect labor

$72,000

$0.30

Supervision

$75,600

$6,300

Indirect materials

48,000

$0.20

Depreciation

30,000

$2,500

Repairs

36,000

$0.15

Insurance

12,000

$1,000

Utilities

24,000

$0.10

Rent

9,600

$800

Lubricants

12,000

$0.05

Property taxes

6,000

$500

$192,000

$0.80

$133,200

 

It is estimated that direct labor hours worked each month will range from 18,000 to 24,000 hours.

Variable Overhead Costs

Fixed Overhead Costs

Indirect labor

$6,200

Supervision

$6,300

Indirect materials

3,600

Depreciation

2,500

Repairs

2,300

Insurance

1,000

Utilities

1,700

Rent

850

Lubricants

1,050

Property taxes

500

$14,850

$11,150

Instructions:

a. Prepare a monthly flexible manufacturing overhead budget for each increment of 2,000 direct labor hours over the relevant range for the year ending December 31, 2014.

b. Prepare a manufacturing overhead budget report for January.

c. Comment on management’s efficiency in controlling manufacturing overhead costs in January.

The Sarbanes-Oxley Act

In the past decade, actions to protect consumers have increased. For example, the Sarbanes-Oxley Act of 2002 rose out of the Enron debacle; Edward Snowden, an ex-CIA computer technician, became a high profile “whistleblower” reporting U.S. surveillance abuses. However, advertising has been largely unaffected by legal scrutiny. The most criticized of all marketing activities, advertising is frequently annoying, sometimes misleading and often ineffective.

Many students maintain that advertising is a waste of money, that it doesn’t sway them toward purchase at all. Is that true?

Based on what you’ve learned from your readings this week, what is your opinion?

Would you argue that advertising is pointless, that products should be able to compete without advertising standing on their own merit?

Would you argue that there is redeeming value to advertising?

Substantiate your opinion with an example that supports your point of view.

Conflict between ethical behavior and the pursuit of profit

Is there an inherent conflict between ethical behavior and the pursuit of profit? What criteria do you consider when you make this judgment? Is the term business ethics an oxymoron?

Contrast the four types of discretionary benefits

Compare and contrast the 4 types of discretionary benefits. What factors influence the types of employee benefits employees want/need? Use a minimum of 2 credible sources (including the article linked above) to support your explanation. Cite your sources in APA format

Describe a project selection process

Describe a project selection process from either the literature or an organization of your choice. If it’s from the literature, please submit the article; if it’s an organization, please include the website. Include a figure showing the process if possible.