Economic Analysis of the Firm
Economic Analysis of the Firm ECO 6115
University of Central Florida
Popular in Course
Popular in Economcs
This 1 page Class Notes was uploaded by Toy Kertzmann on Thursday October 22, 2015. The Class Notes belongs to ECO 6115 at University of Central Florida taught by Robert Pennington in Fall. Since its upload, it has received 78 views. For similar materials see /class/227634/eco-6115-university-of-central-florida in Economcs at University of Central Florida.
Reviews for Economic Analysis of the Firm
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 10/22/15
Errata items in Managerial Economics by Thomas and Maurice 8m Edition Chapter 6 Elasticity and Demand 0 Page 243 Applied Problem 2 b should read The absolute value of the percentage change in the price of plastic surgery is less than the absolute value of the percentage change in the quantity demanded Chaper 11 Managerial Decisions in Competitive Markets 0 Page 430 line 11 should read tottal revenue will not be enough even to cover all variable costs so the rm would lose Answers to Technical Problems 0 Page 665 Chapter 1 Technical Problem 2 b delete 70000 b 25000 W Errata items in Student Workbook to A Mana 39 39 7 39 bv Thomas and Maurice 8m Edition Mathematical Review 0 Page 18 answer to 12 b should read steeper not atter Chapter 1 Managers Pro ts and Markets 0 Page 28 Answer to 1 e 72000 Total revenue 7 explicit costs 210000 7 138000 Chapter 6 Elasticity and Demand 0 Page 137 answer to Matching De nition number 1 should be 1 price elasticity of demand instead of demand elasticity o Page 137 answer to Study Problem 2 should be 2 a Ecrease g Note thatE 05 AQ 12 Solve for AQ to get 6 b decrease 12 Note that E 05 6 AP Solve for AP to get Page 139 answer to 13 a should be E Page 140 answer to 13 k is missing It should be Total revenue is 4375 and price is 25 so 175 units 437525 must be the quantity at point k Chaper 11 Managerial Decisions in Competitive Markets 0 Page 243 Study Problem 9 a should read a What is average xed cost at 250 units At g units What is total xed cost at 250 units At g units Using these values explain how AFC and TF C are related to increases in Q o Page 253 answer to Problem 9 a Change 650 to g two times once in line one and once in line two of the answer Chaper 13 Strategic Decision Making in Oligopoly Markets 0 Page 298 gure for answer to 5 d and e Zenith s best decision when Sony chooses Beta should be Beta not Alpha which should be shown by an arrowhead on the Beta branch of the game tree instead of the arrowhead on the Alpha branch of the game tree You can con rm this correction by noting that Zenith makes 15 billion by choosing Beta and only 8 billion by choosing Alpha Thus the diagram is incorrect in this regard The answer however remains correct Sony chooses Alpha and Zenith chooses Alpha Page 303 the titles of the game trees should be reversed to match the order given by the question In other words the top game tree should be titled St Petersburg Times goes rst and the bottom game tree should be titled Tampa Tribune goes rst
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'