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Chapter 7 – 1, 6, 8 and 9 1. In the Deep Creek Mining Company example described in this chapter (Table 7.1), suppose again that labor is the variable input and capital is the fixed input. Specifically, assume that the firm owns a piece of equipment having a 500-bhp rating. a. Complete the following table: LABOR INPUT L (NO. OF WORKERS) | TOTAL PRODUCT TPL (= Q) | MARGINAL PRODUCT MPL | AVERAGE PRODUCT APL | 1 | 3 | - | 3 | 2 | 6 | 3 | 2 | 3 | 16 | 10 | 5.33 | 4 | 29 | 13 | 7.25 | 5 | 43 | 14 | 8.6 | 6 | 55 | 12 | 9.16 | 7 | 58 | 3 | 8.28 | 8 | 60 | 2 | 7.5 | 9 | 59 | -1 | 6.5 | 10 | 56 | -3 | 5.6 | b. Plot the (i) total product, (ii) marginal product, and (iii) average product functions.

c. Determine the boundaries of the three stages of production. In Stage 1, both AP and MP are rising. MP Reaches its maximum point and starts falling. The point to note is that MP is always greater than AP in this stage. In stage 2, AP reaches its maximum point and starts falling. MP also falls and becomes zero. Here MP is always less than AP. In stage 3, MP becomes negative and AP decreases but remains positive.

6. Consider the following short-run production function (where L = variable input, Q = output): Q = 10L – 0.5L2 Suppose that output can be sold for $10 per unit. Also assume that the firm can obtain as much of the variable input (L) as it needs at $20 per unit. a. Determine the marginal revenue product function. MRPL = MPL x MR given P = AR = MR = 10 given MPL = dQ dL MPL = 10 – L MRPL = 100 – 10L b. Determine the marginal factor cost function. $20 c. Determine the optimal value of L, given that the objective is to maximize profits. MRPL = MFC...

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...PARKLAND COLLEGE FINANCIAL ACCOUNTING ACC 101(Fall 2015) TENTATIVE SYLLABUS Instructor: Nancy Schrumpf, CPA Office Hours: Office: B120 MW 8-9 a.m. Phone: 351.2576 MW11 a.m.-12:30 p.m. Secretary/Mailbox: 351.2213, B116 or by appointment Email: nschrumpf@parkland.edu[->0] . Course Web Site: http://my.parkland.edu Login using your Parkland College student email account username and password. You should find a link to “Cobra Learning” on the page which will take you to your course schedule. Select this course to access course materials. You can also access the course from Cobra.parkland.edu. COURSE COMMUNICATION: All course email will be using your CobraLearning account, so please check it regularly. I will generally check my email daily Monday through Friday. COURSE DESCRIPTION: Financial Accounting: (IAI BUS 904) Financial statements as related to investors, creditors and managers, includes cash, receivables, inventory, noncurrent assets, investments, liabilities and equities. F,S,Su COURSE OBJECTIVES: Construct, interpret and analyze the income statement, balance sheet, stockholder’s equity statement and cash flow statement for service business and merchandising business Construct, interpret and analyze period-end adjustments (accruals and deferrals), periodic and perpetual inventory methods, receivables, cash, long-term assets, liabilities (short-term, long-term and contingent), stockholder’s equity and various financial......

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...College of Business Administration ACCY 1-11 – Fundamentals of Financial Accounting SYLLABUS / Fall 2015 PROFESSOR: Behrooz Amini, MBA, MA, CPA OFFICE: TAH-2121 OFFICE HOURS: T/R: 10:45 to 11:30 am, and by appointment OFFICE PHONE: 916-278-7154 (No voice mail available) E-MAIL: amini@csus.edu The most effective and efficient way to communicate. Class Days, Time, and Room T / R, 9-10:15 am, Amador Hall - 152 Course Description: Accounting as the basis of an information system with emphasis on concepts and assumptions underlying data accumulation for financial reports. It includes the concepts of income determination, cash flow position, financial position, and accounting for various types of ownership equities ( a corporation emphasis). Course Objectives: After successfully completing ACCY 1, you should have the basic knowledge and understanding of a company’s (a corporation emphasis) financial and economic resources. You should also be able to analyze and interpret the results of operations, cash flow situation, and the financial position. Prerequisite: Entry Level Math (ELM) test of at least 36, and fair knowledge of Excel. Required Textbook: Financial Accounting, 3nd Edition, Spiceland / Publisher: McGraw Hill (Loose-leaf pages) with Connect+ Access /ISBN#: 9781259757099 • Connect log-in: http://connect.mheducation.com/class/b-amini-accy-1-11_-9-to-1015-am Other free......

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