Career development interventions 5th by spence niles and bowlsbey chapter 02

... technology generations and architectures and its influence on silo environment • Know what systems integration is and why it is important for organizations • Understand the role of Enterprise Resource ... Implications for Management (Cont’d) • Systems integration raises many new ethical issues – Possibility of some employees exploiting information for personal advantage a...

Ngày tải lên: 10/08/2017, 10:49

... Produce – From Chapter 7: to maximize profit find q where MR(q)=MC(q) – A competitive firm has a horizontal demand, so MR=p – A profit-maximizing competitive firm produces the amount of output, ... Entry and Exit – The ability of firms to enter and exit a market freely in the long run leads to a large number of firms in a market and promotes price taking • Example: The Chicago Com...

Ngày tải lên: 10/08/2017, 12:28

... Contents • 9. 1 Monopoly Profit Maximization • 9. 2 Market Power • 9. 3 Market Failure & Monopoly Pricing • 9. 4 Causes of Monopoly • 9. 5 Advertising • 9. 6 Networks & Behavioral Economics 9- 2 © 2014 ... demand curve 9- 9 © 2014 Pearson Education, Inc All rights reserved 9. 1 Monopoly Profit Maximization Figure 9. 3 Maximizing Profit 9- 10 © 2014 Pearson Education, Inc...

Ngày tải lên: 10/08/2017, 12:28

... We have assumed so far firms have complete information: know all strategies and payoffs However, in more complex games firms have incomplete information – Incomplete information may occur because ... Examples: Bertrand and Cournot models, all games played so far • Multiple Nash Equilibria – Many oligopoly games have more than one Nash equilibrium – To predict the likely outcome of multipl...

Ngày tải lên: 10/08/2017, 12:28

... with GM (car maker) and Fisher Body (parts manufacturer) below • The Five Strategies and Examples – Contracts: The 2nd-mover firm guarantees the 1st-mover firm that it will not be exploited, GM gave ... offer is almost never made When made, it is rejected Offers under $2 are relatively rare When made, rejected half of the time Most common offers between $3 and $4—above the “rational”...

Ngày tải lên: 10/08/2017, 12:28

... earnings from the many stores he owns Amy, like most people, is risk averse We know an efficient contract requires Amy to bear no risk, but the outcome depends on symmetric and asymmetric information ... reserved 15. 3 Moral Hazard Table 15. 2 Ice Cream Shop Outcomes 15- 18 © 2014 Pearson Education, Inc All rights reserved 15. 3 Moral Hazard • Ice Cream Shop Inefficient Contract &...

Ngày tải lên: 10/08/2017, 12:28

... (horizontal demand for the monopolist) and the regulated monopolist maximizes profit at eo, where MRr = MC The monopolist sells units at the maximum price allowed of $16 – This is an optimal price ... the government may not have full information to set the correct emission standard, or may have limited monitoring and enforcing resources • Emission Fees – In the paper mill case, if the...

Ngày tải lên: 10/08/2017, 12:28

... the movement of comets and meteors – Economists use economic models to explain how managers and other decision-makers make decisions and to explain the resulting market outcomes • Models, Economists ... Rational Maximizers and Behavioral Economics – To understand how others make economic decisions, most economic analysis assumes those ‘others’ are maximizers: they the best they can...

Ngày tải lên: 10/08/2017, 12:28

... Contents • 2. 1 Demand • 2. 2 Supply • 2. 3 Market Equilibrium • 2. 4 Shocks to the Equilibrium • 2. 5 Effects of Government Interventions • 2. 6 When to Use the Supply -and- Demand Model 2- 2 © 20 14 Pearson ... avocados 2- 12 © 20 14 Pearson Education, Inc All rights reserved 2. 1 Demand Summing Demand Curves • The overall demand for avocados is composed of the de...

Ngày tải lên: 10/08/2017, 12:28

... quantity demanded will fall? • Solution Approach – Managers can use empirical methods to analyze economic relationships that affect a firm’s demand • Empirical Methods – – – 3- 3 Elasticity measures ... with time trend and dummy seasonal variables However, revenue is determined in large part by the consumers’ demand curve, and the demand is affected by variables such as inc...

Ngày tải lên: 10/08/2017, 12:28

... 4. 4 Constrained Consumer Choice Figure 4. 8 Consumer Maximization, Interior Solution 4- 19 © 20 14 Pearson Education, Inc All rights reserved 4. 4 Constrained Consumer Choice Figure 4. 9 Consumer ... Contents • • • • • • 4- 2 4. 1 Consumer Preferences 4. 2 Utility 4. 3 The Budget Constraint 4. 4 Constrained Consumer Choice 4. 5 Deriving Demand Curves 4. 6 Behav...

Ngày tải lên: 10/08/2017, 12:28

... Table of Contents • 5. 1 Production Functions • 5. 2 Short-Run Production • 5. 3 Long-Run Production • 5. 4 Returns to Scale • 5. 5 Productivity and Technology Change 5- 2 © 2014 Pearson Education, ... and β are all positive constants – The marginal product of labor is MPL = αq/L = αAPL and α = MPL/APL – The marginal product of capital is MPK = βq/K = βAPK, and β = MPK/APK...

Ngày tải lên: 10/08/2017, 12:28

... is also economically efficient (minimum cost) By minimizing costs, a firm can increase its profit • Empirical Methods – When considering costs, a good manager includes opportunity costs or foregone ... – Value of Manager’s Time example: Maoyong owns and manages a firm He pays himself only $1k per month but could work for another firm and make $11k per month Working for another firm...

Ngày tải lên: 10/08/2017, 12:28

... to market it Or it may produce some inputs itself and buy others from the market – Some firms buy from a small number of suppliers or sell through a small number of distributors These firms often ... Table of Contents • 7. 1 Ownership & Governance of Firms • 7. 2 Profit Maximization • 7. 3 Owner’s vs Manager’s Objectives • 7. 4 The Make or Buy Decision • 7. 5 Market Structure...

Ngày tải lên: 10/08/2017, 12:28

... and the U.K is not possible (different DVD formats) and the common constant MC = m = $1 – Warner acts as a traditional monopoly in each country U.S market: MRA=1, QA=5.8, pA=$29 U.K market: MRB=1, ... derivatives equal to zero • American Market: ∂π(QA, QB) /∂QA= – ∂π(QA, QB) /∂QA= dRA(QA)/dQA – m = – The monopoly sets MR = MC in this market, so MRA = dRA(QA)/dQA = m • British M...

Ngày tải lên: 10/08/2017, 12:28