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Questions for Critical Thinking 1

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Questions for Critical Thinking 1
—From the end-of-chapter discussion questions (DQ) and problems (P)

Salvatore’s Chapter 1:

a. Discussion Questions: 9. How is the concept of a normal return on investment related to the distinction between business and economic profit?

b. Problems: 6, 9, and spreadsheet problem (p. 37).

6. Deterimine which of the two investemtn projects of problem 5 the manager should choose if the discount rate of the firm is 20%.

9. A woman managing a photocopying establishment for $25000 per year decides to open her own duplicating plance. Her revenue during the first year of operation is $120000 and her expences are as follows:

Calculate (a) the explicit costs, (b) the implicit cost, (c) the business profit, (d) the econiomic profit, and (e) the normal return on investment in this business.

Note: 1. P9(e): the normal return on investment equals the implicit cost. 2. The spreadsheet problem (b): for both variables, Time and Age.

Froeb et al.’s Chapter 3:

a. Individual problems: 3-1and 3-3.

Salvatore’s Chapter 3:

a. Discussion Questions: 9. Pg.91 How would you react to a sales manager’s announcement that he or she has in place a marketing proram to maximize sales?

The way that I would react to a sales manager’s manager’s announcement that he or she has in place a marketing proram to maximize sales depends on how I am involved in this decision. If I was his or her’s manager I would be a little upsent that they did not come to me for either approval or looking over. If I was the employee of that manager, I would try to look upon this marketing program as a possible way to improve my sales, along with suggesting to the manager orther ideas that they could incouroprate within the program.

b. Problems: 1(a), 7, and 9.


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