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Có 20+ tài liệu thuộc chủ đề "managerial economics"

Lecture Managerial Economics and Business Strategy - Chapter 1: The Fundamentals of Managerial Economics

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Recognize the Time Value of Money – Use Marginal Analysis. Price/Value of Substitute Products or Services. •Price/Value of Surrogate Products or Services. •Price/Value of Complementary Products or Services. The Time Value of Money. Present value (PV) of a future value (FV) lump-sum amount to be received at the end of “n” periods in the future when the per-period interest rate...

Lecture Managerial economics: Chapter 1 - Mark Hirschey

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MANAGERIAL ECONOMICS. Nature and Scope of Managerial Economics. How Is Managerial Economics Useful?. Theory of the Firm. Why Do Profits Vary among Firms?. Role of Business in Society. managerial economics. theory of the firm. expected value maximization. value of the firm. business profit. economic profit. Managerial economics helps meet management objectives efficiently.. Managerial economics shows the logic of consumer, and...

Lecture Managerial economics: Chapter 2 - Mark Hirschey

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Economic Optimization. Economic Optimization Process. marginal revenue. revenue maximization. short-run cost functions. long-run cost functions. short run. long run. marginal cost. average cost. average cost minimization. total profit. marginal profit. profit maximization rule. incremental profit. Self-indulgence leads to failure.. Customer focus leads to mutual benefit.. Price and Total Revenue. Total Revenue = Price  Quantity.. Marginal Revenue. Change in total...

Lecture Managerial economics: Chapter 3 - Mark Hirschey

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Demand Curve. Supply Curve. demand curve. supply curve. Demand Curve Determination. Demand curve shows price and quantity relation holding everything else constant.. Change in non-price variables will define a new demand curve.. Relation Between the Demand Curve and Demand Function. Movements Along Demand Curve. A rise in price causes upward movement along a given demand curve.. A price decline causes...

Lecture Managerial economics: Chapter 4 - Mark Hirschey

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0 if │ε P │<. Independent goods have ε PX = 0.. Normal goods have ε I >. Noncyclical normal goods have 0 <. Cyclical normal goods have ε I >. Inferior goods have ε I <

Lecture Managerial economics: Chapter 5 - Mark Hirschey

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Demand Estimation. Simple Demand Curve Estimation. Simple Market Demand Curve Estimation. Identification Problem. Regression Analysis. Measuring Regression Model Significance. Measures of Individual Variable Significance. market demand curve. identification problem. market experiments. regression analysis. deterministic relation. statistical relation. simple regression model. multiple regression model. standard error of the estimate (SEE). coefficient of determination. corrected coefficient of determination. two-tail t tests. one-tail...

Lecture Managerial economics: Chapter 7 - Mark Hirschey

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Law of Diminishing Returns to a Factor. Returns to Scale. returns to scale. returns to a factor. constant returns to scale. increasing returns to scale. decreasing returns to scale. Returns to Scale and Returns to a Factor. Returns to scale measure output effect of increasing all inputs.. Returns to a factor measure output effect of increasing one input.. Returns to...

Lecture Managerial economics: Chapter 8 - Mark Hirschey

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Short-run Cost Curves. Long-run Cost Curves. short-run cost functions. long-run cost functions. short run. long run. short-run cost curve. long-run cost curve. economies of scale. Short Run Versus Long Run. At least one input is fixed in the short run.. All inputs are variable in the long run.. Fixed cost is a short-run concept.. All costs are variable in the...

Lecture Managerial economics: Chapter 9 - Mark Hirschey

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Linear Programming. Graphic Specification and Solution. Algebraic Specification and Solution. Dual in Linear Programming. Dual Specification. Solving the Dual Problem. linear programming. feasible space. objective function. corner point. slack variables. shadow prices. Resource constraints limit usage to ≤ some fixed amount.. Output quantity or quality constraints limit production to ≥ some fixed amount.. Least-cost input combination is on feasible isocost...

Lecture Managerial economics: Chapter 10 - Mark Hirschey

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Competitive Markets. Competitive Environment. Factors That Shape the Competitive Environment. Competitive Market Characteristics. Profit Maximization in Competitive Markets. Marginal Cost and Firm Supply. Competitive Market Supply Curve. Competitive Market Equilibrium. market structure. product differentiation. competitive markets. barrier to entry. normal profit. marginal analysis. competitive firm short-run supply curve. competitive firm long-run supply curve.. What is Market Structure?. Market structure describes...

Lecture Managerial economics: Chapter 11 - Mark Hirschey

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Performance and Strategy in Competitive Markets. Competitive Market Efficiency. Market Failure. Subsidy and Tax Policy. Tax Incidence and Burden. Business Profit Rates. Market Structure and Profit Rates. Competitive Market Strategy. social welfare. deadweight loss problem. market power. market failure. failure by market structure. failure by incentive. consumer sovereignty. limit concentration. subsidy policy. tradable emission permits deadweight loss of taxation. tax...

Lecture Managerial economics: Chapter 12 - Mark Hirschey

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Monopoly Market Characteristics. Profit Maximization in Monopoly Markets. Social Costs of Monopoly. Social Benefits of Monopoly. Competitive Strategy in Monopoly Markets. deadweight loss from monopoly problem. wealth transfer problem. natural monopoly. bilateral monopoly. market niche. Opportunity for long-run economic profits.. Examples of Monopoly. A monopoly firm is the market.. Market and firm demand curve slope downward.. Set Mπ = MR...

Lecture Managerial economics: Chapter 13 - Mark Hirschey

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Monopolistic Competition and Oligopoly. Contrast Between Monopolistic Competition and Oligopoly. Monopolistic Competition. Monopolistic Competition Process. Oligopoly Output-Setting Models. Oligopoly Price-Setting Models. Market Structure Measurement. monopolistic competition. high-price/low-output equilibrium. low-price/high-output equilibrium. Cournot model. output-reaction curve. Stackelberg model. first-mover advantage. price signaling. price leadership. barometric price leadership. Bertrand model. price-reaction curve. Sweezy model. kinked demand curve. economic census. North American Industry. Classification...

Lecture Managerial economics: Chapter 14 - Mark Hirschey

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Game Theory and. Competitive Strategy. Game Theory Basics. Nash Equilibrium. Infinitely Repeated Games. Finitely Repeated Games. Game Theory and Auction Strategy. Non-price Competition. game theory. zero-sum game. positive-sum game. negative-sum game. simultaneous-move game. game-theory strategy. one-shot game. repeated game. dominant strategy. secure strategy. Nash equilibrium. Nash bargaining. infinitely repeated game. finitely repeated game. end-of-game problem. first-mover advantage. English auction. winner’s...

Lecture Managerial economics: Chapter 15 - Mark Hirschey

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Markup Pricing And Profit Maximization. Price Discrimination. markup on cost. optimal markup on cost. markup on price. optimal markup on price. price discrimination. Profit maximization always requires setting Mπ. MR - MC = 0, or MR=MC, to maximize profits.. In competitive markets, P=MR, so profit maximization requires setting P=MR= MC.. MR, so profit maximization requires setting MR=MC.. Markup Pricing and...

Lecture Managerial economics: Chapter 16 - Mark Hirschey

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Risk Analysis. Utility Theory and Risk Analysis. Adjusting the Valuation Model for Risk. Decision Trees and Computer Simulation. economic risk. business risk. market risk. probability distribution. payoff matrix. expected value. absolute risk. relative risk. normal distribution. risk aversion. risk neutrality. risk seeking. certainty equivalent. certainty equivalent adjustment factor, ". risk-adjusted valuation model. risk-adjusted discount rate. computer simulation. Economic Risk and...

Lecture Managerial economics: Chapter 17 - Mark Hirschey

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Capital Budgeting. Cost of Capital. capital budgeting. cost of capital. component cost of debt. component cost of equity. weighted average cost of capital. marginal cost of capital. Component Cost of Debt Financing. After-tax cost of debt, k d = (Interest Rate. Component Cost of Equity Financing. Cost of equity is a risk-free rate, R F , plus a risk premium,...

Lecture Managerial economics: Chapter 18 - Mark Hirschey

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Organization Structure and Corporate Governance. Corporate Governance. Ownership Structure as a Corporate Governance Mechanism. corporate governance. ownership structure. Corporate Governance Inside the Firm. Organization design is an essential corporate governance mechanism.. Corporate Governance Mechanism